Bitcoin is on a stunning run, smashing through record after record and showing no signs of slowing down.
Over the past two days, BTC has surged around 6%, reaching six consecutive all-time highs. On July 11, Bitcoin hit a new milestone, climbing to $118,668, according to data from crypto.news. That’s up about 6.8% as it soared past the previous resistance levels around $110,000 and then $113,800.
Just a day earlier, on July 10, Bitcoin had already set a fresh all-time high, topping $113,800, fueled by strong institutional buying and a broadly positive mood in risk markets. Before that, BTC faced significant resistance near $111,250, which it ultimately smashed through during a bullish burst.
Analysts Predict Even Higher Highs
The ongoing rally seems to be playing out just as some analysts predicted. Matrixport, a well-known on-chain analysis firm, recently forecast that Bitcoin could reach at least $116,000 in July, citing historical trends that show July is often a strong month for BTC.
“If historical seasonality holds, Bitcoin could be poised for another move higher — potentially reaching $116,000 in the coming weeks,” Matrixport noted in its report.
Now that BTC has blown past that level, the conversation is turning toward the next big milestones.
Why Bitcoin Keeps Climbing
Several factors are driving this explosive price action:
- Expectations of Fed rate cuts, which tend to boost risk assets like crypto.
- Growing inflows into spot Bitcoin ETFs, signaling more institutional participation.
- Regulatory clarity and optimism in some markets, creating a more favorable environment for crypto investments.
- Technical breakouts that keep attracting traders looking to ride the momentum.
The broader market backdrop is also supportive. Equities are hitting fresh highs, and a “risk-on” sentiment is lifting all boats, including Bitcoin.
What’s Next?
With this momentum, analysts are now eyeing the next major target at $120,000. If Bitcoin can clear that hurdle, the stage could be set for an extended move toward the $130,000 to $140,000 range.
While some caution that rapid rallies can lead to sharp pullbacks, the mood around Bitcoin remains overwhelmingly bullish at least for now.
Investors and traders alike are watching closely to see just how high Bitcoin can go in this remarkable run.
