#CryptoClarityAct Bitcoin (BTC) jumped to a new record level of $117,668 on July 11, marking the sixth consecutive historic peak within just two days, amid a strong increase of 6.8%, according to data from crypto.news.
This notable rise came after Bitcoin broke the $110,000 barrier and then exceeded $113,800 on July 10, achieving two record numbers in less than 24 hours. This surge coincided with significant institutional inflows and a wave of "risk appetite" in global markets.
The current rise aligns with Matrixport's expectations that the currency will reach $116,000 or more during July, based on previous seasonal patterns that showed strong Bitcoin performance in this month.
Experts attribute this momentum to several factors, most notably:
• Expectations of interest rate cuts by the US Federal Reserve.
• Increased investments in exchange-traded Bitcoin funds.
• Encouraging regulatory environments that stimulate capital inflows.
Analysts believe Bitcoin is currently heading towards testing the $120,000 level in the coming days, with the possibility of expanding towards the $130,000 to $140,000 range if the upward momentum continues, supported by technical and fundamental data.
This notable rise came after Bitcoin broke the $110,000 barrier and then exceeded $113,800 on July 10, achieving two record numbers in less than 24 hours. This surge coincided with significant institutional inflows and a wave of "risk appetite" in global markets.
The current rise aligns with Matrixport's expectations that the currency will reach $116,000 or more during July, based on previous seasonal patterns that showed strong Bitcoin performance in this month.
Experts attribute this momentum to several factors, most notably:
• Expectations of interest rate cuts by the US Federal Reserve.
• Increased investments in exchange-traded Bitcoin funds.
• Encouraging regulatory environments that stimulate capital inflows.
Analysts believe Bitcoin is currently heading towards testing the $120,000 level in the coming days, with the possibility of expanding towards the $130,000 to $140,000 range if the upward momentum continues, supported by technical and fundamental data.