Bitcoin surged past the $116,500 mark on July 11, establishing a new all-time high and marking an impressive near 20% gain year-to-date. This bullish momentum is underpinned by several key catalysts, including anticipated Federal Reserve interest rate cuts, the enactment of a significant tax expenditure bill, and the de-escalation of global trade tensions. These factors have collectively heightened demand for hedging assets such as Bitcoin, reinforcing its appeal amid macroeconomic uncertainties.
Market analysts are closely monitoring whether Bitcoin can sustain this upward trajectory and potentially breach the critical psychological barrier of $200,000. Adam Guren, CIO of Hunting Hill, attributes the current rally to a synergistic effect of ETF inflows, institutional adoption, and a supportive macroeconomic backdrop. Unlike prior cycles, this surge is characterized by regulated, structural demand, suggesting a more resilient and persistent growth pattern.
Additional support for Bitcoin’s price is derived from rising M2 money supply and consistent institutional capital inflows. CryptoQuant analysts highlight that a majority of Bitcoin holders are currently in profit, providing a stable foundation for continued market strength. While short-term profit-taking remains a possibility, the prevailing momentum favors further appreciation.
Looking ahead, experts posit that if current trends persist alongside expanding M2 liquidity, Bitcoin could potentially reach between $150,000 and $200,000 by year-end. In this dynamic environment, platforms like BiyaPay are enhancing investor access by enabling seamless global trading of US and Hong Kong equities via USDT, without the need for offshore accounts. BiyaPay also facilitates cost-effective trading across over 200 cryptocurrencies, including Bitcoin and Ethereum, through free spot and contract orders, catering to the evolving needs of crypto investors.