Technical analysis by Shavyfxhub about Symbol BTC: Buy recommendation (7/11/2025)

As of July 11, 2025, Bitcoin (BTC) is experiencing a strong bullish surge, reaching new all-time highs: Current Price: Around $117,786 per BTC, up about 1.55% on the day, with an intraday high near $118,780. Market Cap: Approximately $2.33 trillion, reflecting significant institutional and retail interest. Trading Volume: High, with 24-hour volume exceeding $124 billion, indicating robust market activity. Key Drivers Behind Today’s Bitcoin Rally: New All-Time High: Bitcoin recently surpassed its previous record, hitting nearly $118,800, fueling bullish momentum. Massive Short Squeeze: Over $1 billion in short positions were liquidated within 24 hours, including around $570 million in Bitcoin shorts, accelerating the price rally. ETF Inflows: US spot Bitcoin ETFs have seen substantial inflows (around $50 billion this week), signaling strong institutional demand. Technical Breakout: Technical indicators show a strong bullish trend, with Bitcoin targeting levels above $126-130K, Macro Environment: The US dollar is weakening sharply (its worst performance since 1973), boosting risk assets like Bitcoin. Growing Adoption: Corporate treasury purchases and positive regulatory developments in the US are enhancing investor confidence. Market Sentiment and Outlook: The Relative Strength Index (RSI) is above 70, indicating strong bullish momentum but also suggesting caution for a possible short-term pullback. The number of Bitcoin wallets holding BTC has increased significantly, showing renewed accumulation by investors. Technical OutlookBullish, target $120K+ Bitcoin’s rally today is driven by a powerful combination of technical breakout, institutional buying, short squeeze dynamics, and supportive macroeconomic factors, making it one of the strongest moves in crypto markets this year. #BTC #BITCOIN