The relentless ascent of Bitcoin reached another improbable milestone on July 9, 2025, when the cryptocurrency breached $112,000 for the first time in its tumultuous history—a feat that would have seemed like fantasy to those who witnessed its sub-$20,000 capitulation just years earlier.
The digital asset’s 5.95% weekly surge carried it past the stubborn $110,500 resistance level that had previously stymied multiple breakout attempts, suggesting that institutional conviction had finally overwhelmed technical skepticism.
Bitcoin’s institutional momentum finally conquered the $110,500 resistance that had repeatedly rejected previous rallies, marking a decisive technical victory.
This breakthrough propelled the broader cryptocurrency market capitalization to approximately $3.47 trillion, though it remains tantalizingly below December 2024’s peak of $3.73 trillion—a reminder that even astronomical gains can feel insufficient in crypto’s peculiar mathematics.
The rally’s foundation appears remarkably solid, built upon $1.5 billion in weekly inflows to US-listed spot Bitcoin ETFs, indicating that institutional appetite extends far beyond retail speculation’s familiar fever dreams.
Corporate adoption continues its measured march forward, with Japanese firm Metaplanet adding another 1,234 BTC to reach a total holding of 12,345 BTC—a commitment that speaks to Bitcoin’s emerging role as corporate treasury diversification rather than mere speculative positioning.
Such institutional accumulation provides vital price support while reducing the volatility that once characterized every Bitcoin move.
The macroeconomic backdrop proves equally supportive, as fresh US tariffs on Malaysia and Kazakhstan create risk-on dynamics that favor Bitcoin’s non-correlated characteristics.
Meanwhile, Federal Reserve signals toward potential 2025 rate cuts have improved sentiment toward risk assets, though calling Bitcoin a “risk asset” increasingly feels like outdated categorization given its evolving institutional acceptance.
Technical indicators paint an optimistic picture, with RSI levels suggesting bullish momentum without reaching overbought territory—a rare condition in Bitcoin’s typically extreme oscillations. The descending channel breakout on Wednesday confirmed this bullish momentum, with price breaking above the top trendline that had previously constrained upward movement.
Analysts project potential upside targets near $146,400 if current trends persist, though such predictions carry the usual caveats about cryptocurrency’s notorious unpredictability. The surge gains additional legitimacy from President Trump’s establishment of a strategic bitcoin reserve, positioning the digital asset as a cornerstone of America’s economic defense infrastructure.
The rally’s health received validation through leverage cleansing, including one whale’s spectacular $150 million liquidation at $108,885 using 40x leverage—a sobering reminder that even Bitcoin’s ascent cannot defy fundamental risk management principles indefinitely. Adding to market complexity, a significant dormant bitcoin movement of 20,000 BTC after 14 years of inactivity has analysts watching for potential market shifts despite the current bullish momentum.
