🚀 Bitcoin Smashes $116K Barrier—$130K in Sight as ETF Demand Explodes

Wall Street's latest gold rush just turned digital. Bitcoin blasted past $116,000 today—its third record-break this month—as institutional money floods into spot ETFs. The real question? How long until Jamie Dimon calls it a 'fraud' again while JPMorgan quietly accumulates.

ETF inflows hit $1.2B this week alone. That's enough capital to buy El Salvador's entire BTC reserve—twice. Retail traders are now competing with BlackRock's algo-triggered buys, creating a demand squeeze not seen since the 2021 bull run.

Technical indicators scream overbought. Fundamentals whisper 'institutional FOMO.' One thing's clear: When pension funds start chasing 20% weekly gains, either the financial system's broken or Bitcoin's just getting started.

• Bitcoin surged to a new all-time high of $116,664, driven by strong institutional buying and record ETF inflows.
• Over $1.14 billion in leveraged positions were liquidated in 24 hours, with Bitcoin leading losses at $591 million.
• The Crypto Fear & Greed Index entered the “Greed” zone, reflecting growing market optimism after BTC’s breakout.

Bitcoin (BTC) reached a fresh all-time peak of $116,664 on Thursday, thanks to increasing institutional buying, record-busting ETF inflows, and new political backing from the Trump administration. The explosive price surge caused one of the biggest liquidation waves ever seen, indicating a fresh bullish momentum in the cryptocurrency space.

Up to 11:15 p.m. ET, the cryptocurrency had already risen past yesterday’s peak of $113,734 set barely a couple of hours ago. The world’s top cryptocurrency now has a year-to-date gain of nearly 24%, and analysts are targeting the next major resistance at $130,000.

At the time of writing, Bitcoin is trading at $ 117,896 with a 24-hour trading volume of $ 114.50 billion and a market cap of $ 2.33 trillion. BTC price increased 6.06% in the last 24 hours.

As 10X Research shows, a conclusive bullish breakout signal has been initiated. In a recent client note, the company revealed that such signals have a history of yielding median gains of about 20%, which could propel the price of Bitcoin to as high as $133,000 by September.

The unexpected correction caught a lot of traders by surprise. Within the last 24 hours, over $1.14 billion of Leveraged positions had been liquidated, with short sellers taking the biggest losses. Bitcoin led the liquidation with $591 million, followed by Ethereum ($241 million) and heavy losses through tokens such as Solana, XRP, and Hyperliquid, according to CoinGlass.

BREAKING: OVER $1 BILLION WORTH OF SHORTS ON crypto LIQUIDATED IN THE PAST 24 HOURS pic.twitter.com/jlLixbWanA

Contributing to the market mania, implied volatility had recently declined to multi-month lows, enabling traders to acquire upside exposure at cheap prices. Moreover, numerous investors were underexposed after the June expiry of the options, which led to a quick repositioning as the momentum gained.

The Crypto Fear & Greed Index now finds itself within the “Greed” area. This follows the new ATH reached by BTC earlier today, which shows the sentiment shift throughout the marketplace as investors become increasingly optimistic.

The Crypto Fear & Greed Index is now in the "Greed" zone after $BTC hit a new ATH earlier today.

Where do you stand on the scale? pic.twitter.com/c4LkrLF1fH

Bitcoin Soars on Trump and ETF Support

One of the biggest tailwinds behind the growth of bitcoin has been the new political support provided by Donald Trump. Back in March, Trump released an executive order to establish a national crypto reserve. Since then, his administration has installed major names like pro-crypto appointees into high-profile seats.

That includes former SEC Commissioner Paul Atkins and AI investor David Sacks, the latter now heading crypto-related AI policy. As a parallel, Trump’s Media & Tech Group recently registered to provide a multi-token crypto ETF, including Bitcoin and other major VIRTUAL currencies.

Since April 15, Bitcoin ETFs have acquired more than $15 billion of the cryptocurrency. Such institutional buying interest continues to play a decisive role in constraining supply and fueling the current price surge.

” said Thielen. “

Shortly, analysts are watching two very significant events: the next U.S. CPI print and the initiation of Crypto Week in Washington, D.C. Each can become yet another catalyst of volatility or help spur new price discovery.

In the short term, the bulls for Bitcoin are dominant, while the larger crypto space enters a new phase of acceleration.