Bitcoin explodes with a record high of $112,000

On July 9, Bitcoin broke its previous high very briefly, going over $112,000. This move ignored doubts about a slowdown in the rally. The price crossing this level happened despite global issues and big shifts in derivatives markets. It has sparked new hopes that the crypto market is entering a fresh phase of growth.

A young woman crouches in front of a high-tech, unusual crypto ATM. The digital machine’s screen blinks with "$112,000" in bright orange numbers. Coins with the Bitcoin symbol float around it.

In summary

Bitcoin reached a new record briefly on July 9, 2025, surpassing $112,000. The jump was driven by the closing out of $200 million in short bets, which forced many to buy back their positions.

Analysis from Bitfinex suggests that clearing out short traders makes the market healthier by reducing excessive borrowing.

Some experts see the next target around $120,000, with more investors putting money in and confidence rising.

A drop in US inflation could push Bitcoin to the top, and it hit a new high, climbing past $112,000. It followed weeks of steady gains, rising nearly 6% over the past week.

This record came after nearly $200 million of short positions were wiped out. Many traders who bet against Bitcoin had to buy it back quickly, which pushed the price higher. This forced buying helped fuel the bullish run.

Market analysts on Bitfinex agree that this technical move shows the market is healthier:

Removing over-borrowed traders creates a stronger base for further growth.

In short, Bitcoin has rid itself of much of its risky debt, making future rises more stable. Several signs back this view:

$200 million worth of shorts were liquidated near a key resistance level. Bitcoin gained about 6% in one week.

The total market value crossed $3.47 trillion again. Bitfinex analysts emphasize that the current rally is backed by real investment, not just quick bets.

On-chain data also shows more Bitcoin being held by investors, which supports the move.

All these signs suggest the recent rise isn’t just speculation. It’s built on real buying and a stronger market structure.

While technical factors played a big role, broader events also helped push Bitcoin higher. Just before reaching the new high, the US government announced tariffs up to 40% on several countries, including Malaysia, Kazakhstan, Myanmar, Laos, and South Africa.

Japan also increased tariffs to 25%. These trade moves, starting August 1, have added to global economic worries. In this tense climate, many now see Bitcoin as a safe place to park money. Katalin Tischhauser from Sygnum Bank says that since April 2, Bitcoin has outperformed many traditional markets and started to move apart from them during stock market dips.

This idea of Bitcoin as a shield from monetary issues is strengthened by new US rules. One state has even passed a law requiring a Bitcoin reserve, echoing earlier federal steps.

Meanwhile, blockchain data from Glassnode shows Bitcoin holdings on exchanges are shrinking. From March to May, reserves dropped from 3.11 million BTC to 2.99 million. This suggests investors are holding onto their Bitcoin longer, possibly reducing the supply in the market. Tischhauser believes this long-term holding trend points to a future supply crunch.

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