After weeks of frustrated attempts to breach the psychological barrier of $110,000, Bitcoin finally surrendered to gravity’s inverse—or perhaps more accurately, to the relentless optimism of traders who refuse to acknowledge that what goes up might occasionally come down. On July 9, 2025, BTC/USD pushed past $112,000, followed by an encore performance the next day at $113,822, delivering consecutive all-time highs that had previously seemed as elusive as sustainable monetary policy.
The breakthrough arrives courtesy of what analysts diplomatically term “positive risk-on sentiment”—a euphemism for the market‘s collective decision to ignore inconvenient realities like tariff threats and political turbulence. Instead, investors have fixated on earnings season anticipation and record-high major indexes, creating a feedback loop where optimism breeds more optimism, at least until it doesn’t.
Technical indicators have largely abandoned their traditional role as market skeptics, with 24 signaling bullish reversal while only four dare to flash warnings. This overwhelming technical consensus suggests either remarkable market clarity or the kind of groupthink that historically precedes memorable corrections.
When 24 indicators sing in harmony while only four dissent, markets reveal either profound wisdom or profound delusion.
Forecasts project BTC could reach $117,300 to $120,980 by early August, though such precision in cryptocurrency predictions remains about as reliable as weather forecasts beyond next Tuesday.
The rally’s momentum appears “slow and steady” rather than explosive—a characterization that would have seemed oxymoronic during Bitcoin’s more volatile chapters. Nearly $340 million in short position liquidations accompanied the breakout, providing the kind of forced buying that transforms skeptics into reluctant participants.
Institutional adoption continues driving long-term sentiment, with companies expected to expand Bitcoin treasury positions throughout 2025’s second half. Speculation regarding a US strategic bitcoin reserve persists despite weakening conviction, while Coinbase and MicroStrategy stocks rise in sympathetic harmony. The tech-focused Nasdaq also reached a high on the same day, reflecting broader market optimism across risk assets.
The broader cryptocurrency market demonstrates unusual cohesion, with Ether jumping 6% alongside Bitcoin’s record. This broad-based rally suggests either genuine market maturation or the kind of correlated euphoria that makes risk management particularly challenging. Trading platforms like Bitso Exchange continue expanding their cryptocurrency offerings, now supporting over 50 cryptocurrencies including Bitcoin, Ethereum, and XRP across Latin American markets.
Bitcoin now sits approximately 22% higher year-to-date, consolidating above $100,000 since late June while maintaining an uptrending channel that continues defying gravity’s eventual claims. Some analysts anticipate Bitcoin could reach $140,000 or higher this year, driven by ongoing institutional platform access and favorable market conditions.
