According to CoinMarketCap data, Bitcoin surged 1.53% over the last 24 hours, reaching $119,314. This marked a renewed phase of bullish momentum across the crypto markets. The climb is attributed to a perfect storm of factors including a large-scale short squeeze, heightened institutional interest, and significant technical breakouts. These dynamics not only pushed prices higher but also injected optimism among market participants betting on further upside.
The rally has refocused market attention on key macro and on-chain signals, suggesting that Bitcoin’s rally may be far from over.
Short Squeeze and Whale Liquidation Spark Upward Surge
The primary catalyst for Bitcoin’s latest surge was a massive short liquidation event. A well-known crypto whale, identified on-chain as @qwatio, incurred $15.48 million in losses after leveraged short positions on BTC and ETH were forcibly closed. This liquidation triggered a cascading wave of buybacks from market makers, sending Bitcoin’s price sharply higher.
According to data from Coinglass, over $42.32 million worth of Bitcoin shorts were liquidated in the last 24 hours — a 72% increase compared to the previous day. This forced unwind occurred despite a 4.30% rise in open interest, indicating that new long positions entered the market amid the liquidation cascade, reinforcing bullish momentum rather than signaling a deleveraging event.
Importantly, perpetual futures funding rates remain positive but contained at +0.0072681%, indicating that the rally has bullish conviction but isn’t yet in overheated territory.
Institutional Demand Provides Structural Support
Beyond short-term liquidations, long-term demand from institutions has helped create a robust floor for Bitcoin’s price.
MicroStrategy added 69,140 BTC to its balance sheet between April and July 2025. This strategic accumulation alone reflects strong confidence in Bitcoin’s role as a treasury reserve asset.
More broadly, institutional flows have accelerated. According to data from Farside, the U.S. spot Bitcoin ETFs saw back-to-back billion-dollar inflow days — a rare milestone not seen since their January 2024 debut:
- July 10: $1.18 billion in net inflows
- July 11: $1.03 billion in net inflows
These inflows reflect surging investor appetite, driven by growing macro uncertainty, inflation hedging, and portfolio diversification trends. As of July 14, 265 entities (including 148 public companies and 46 private firms) collectively hold 3.5 million BTC in their corporate treasuries, according to BitcoinTreasuries.net.
Read Also: BlackRock’s Bitcoin ETF Shatters ETF Records, Crosses $83.24B in AUM
Technical Breakout Signals More Room to Run
From a technical perspective, Bitcoin’s price action confirms that the market has regained bullish strength.
The 14-day RSI stands at 72.79, indicating bullish momentum but staying below the overbought threshold of 80.
Bitcoin decisively broke above the $114,001 level, which aligns with the 23.6% Fibonacci retracement, acting as a key resistance in past cycles.
The MACD histogram is at +1,027, confirming accelerating bullish momentum on daily charts.
These signals suggest that the rally is not just driven by news but also supported by technical indicators that often precede extended upward trends.
Why Is Bitcoin Price Up Today?
Several overlapping factors are driving today’s Bitcoin surge:
- Whale Liquidation Cascade: The forced buybacks after @qwatio’s liquidation led to a short squeeze that quickly drove prices higher.
- ETF Inflows: Renewed demand from spot Bitcoin ETFs added more than $2.2 billion in capital over two days, the highest in over four months.
- Institutional Treasury Buying: Firms like MicroStrategy and newly added public companies continue to accumulate Bitcoin as a hedge and long-term store of value.
- Favorable Macro Environment: With interest rate cuts expected from the U.S. Federal Reserve later this year, investors are increasingly shifting capital into alternative assets like Bitcoin.
- Low Exchange Balances: Bitcoin reserves on exchanges are hovering near a 5-year low, amplifying the price impact of fresh demand.
Where Will Bitcoin Go From Here?
Analysts and institutions remain divided, though the consensus is leaning bullish for the remainder of 2025.
According to a July report from Standard Chartered, Bitcoin could reach $150,000 by Q3 2025 and $200,000 by year-end, especially if ETF flows continue at their current pace. The firm projects that institutional adoption through ETFs and growing use cases in cross-border settlements will support sustainable long-term demand.
On-chain analytics recently flagged a rise in long-term holder accumulation and a decline in exchange inflows — both signs of reduced sell pressure and strong conviction.
However, risks remain. Analysts at BlockFirms Research have cautioned that “an overheated derivatives market and excessive retail leverage” could lead to corrections, particularly if macroeconomic data disappoints or regulatory developments trigger uncertainty.
Read Also: Think Bitcoin Is Too Volatile To Invest In? Think Again
Market Forecasts and Institutional Outlook
- Fidelity Digital Assets mentioned in its 2025 crypto midyear outlook: “As more countries are considering establishing crypto reserves, it may increase demand on a larger scale and provide another potential catalyst for bitcoin’s price.”
- CoinShares reported that digital asset investment products attracted $2.4 billion in inflows in the past week alone, with Bitcoin accounting for 87% of that figure.
- K33 Research notes that daily spot volume on Coinbase and Binance increased by 26% week-over-week, reflecting growing retail and institutional participation.
In its ARK’s Big Ideas 2025 report, ARK Invest projects Bitcoin’s long-term target of $1.5 million per BTC by 2030 (in bull case scenario), citing growing developer activity, broader macro tailwinds, and increased financialization of Bitcoin through regulated instruments.
Bitcoin’s Bullish Cycle Is Accelerating
Bitcoin’s rise to $119,314 reflects a confluence of powerful forces — short-term technical events, like the whale liquidation, and long-term structural shifts, like institutional accumulation. ETF inflows, treasury demand, and macro tailwinds provide a solid base for further price growth, while technical indicators confirm the rally’s strength.
Short-Term Bitcoin Price Target (July–August 2025)
Given the current technical and fundamental setup, the short-term target for Bitcoin can be projected as follows:
Base Case Target: $124,800 – $127,000
The next key Fibonacci resistance lies between $124,800 and $127,000, corresponding to the 38.2% retracement from the recent high-low range.
The market has broken above $114,000 (23.6% Fib) and is showing strong bullish continuation signs with healthy ETF inflows and low funding rate stress.
Bullish Scenario Target: $132,000 – $138,000
Conditions Required:
ETF inflows sustain above $800M per day.
No negative macro news (e.g., hawkish Fed comments, geopolitical tensions).
RSI and MACD continue trending upwards without diverging.
Whale/institutional accumulation continues (e.g., MicroStrategy, new corporate entries).
Downside Risk Zone: $112,000 – $114,000
If correction happens:
This range serves as immediate support, also aligned with the Fib retracement.
A breakdown below $112K might trigger further liquidation and push BTC back to $105,000 support.
Watch Open Interest and Funding Rates closely for overheating signals.
Read Also: Bitcoin: How it Works, Benefits, Drawbacks and Future Outlook
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
