Bitcoin Soars to $118K on July 11, 2025: BTC Liquidates $1.1B in Short Positions as Rally Continues
- Why Did Bitcoin Surge 6.4% in 24 Hours?
- Is Bitcoin Overbought? RSI Hints at More Upside
- $1.1B Liquidation Carnage: Shorts Wiped Out
- Bitcoin’s Market Cap Briefly Topples Amazon
- What’s Next for BTC? $120K or a Pullback?
- FAQs: Bitcoin’s July 2025 Rally
Bitcoin (BTC) made headlines on July 11, 2025, as its price surged to a staggering $118,140, marking one of the most significant daily gains of the year. The rally triggered massive liquidations in the derivatives market, wiping out $1.1 billion in short positions. With the Relative Strength Index (RSI) still in a stable zone and institutional inflows supporting the uptrend, analysts suggest BTC could soon target $150K. Meanwhile, ethereum (ETH) also saw an 8% spike, adding to the bullish momentum across the crypto market.
Why Did Bitcoin Surge 6.4% in 24 Hours?
July 10, 2025, will be remembered as the start of another historic bitcoin rally. Within 24 hours, BTC climbed 6.4%, peaking at $118,140 before settling at $117,738. This breakout above $112K was fueled by strong institutional demand, dwindling exchange reserves, and optimistic macroeconomic sentiment. Guilherme Prado, Country Manager at Bitget, noted, "The rally is backed by solid fundamentals—reduced BTC supply on exchanges, positive policy discussions in the U.S., and a global risk-on appetite."
Is Bitcoin Overbought? RSI Hints at More Upside
Despite the sharp rise, Bitcoin’s RSI sits at 74—well below the 93 seen during the 2021 bull run—suggesting room for further growth. "The RSI stability indicates this isn’t a speculative bubble but a sustainable uptrend," commented a BTCC analyst. Historical data shows that when short-term holders (those holding BTC
$1.1B Liquidation Carnage: Shorts Wiped Out
The rally wreaked havoc on Leveraged traders, with Coinglass reporting $1.1 billion in short liquidations—the highest since June 6. Bitcoin shorts alone lost $680 million, while Ethereum (ETH) shorts shed $250 million as ETH breached $3,000. Only $129 million of long positions were liquidated, mostly in minor altcoins like CROSS ($1.44M).
Bitcoin’s Market Cap Briefly Topples Amazon
BTC’s market capitalization hit $2.34 trillion on July 11, briefly surpassing Amazon and cementing its position as the sixth-largest asset globally. While it later retraced below the retail giant, it remains ahead of Alphabet (Google’s parent company). CryptoQuant data reveals that long-term holders now dominate the market, with 85% of BTC held for over a month—a bullish signal for reduced volatility.
What’s Next for BTC? $120K or a Pullback?
With minimal sell-side resistance, $120K seems imminent. However, traders should watch for potential profit-taking NEAR this psychological barrier. "The $150K target isn’t unrealistic if institutional inflows persist," added the BTCC team. Meanwhile, Ethereum’s breakout above $3K could fuel an altcoin season, though the level needs confirmation.
FAQs: Bitcoin’s July 2025 Rally
How high did Bitcoin price reach on July 11, 2025?
BTC hit an intraday high of $118,140, settling at $117,738 by market close.
What caused the $1.1B liquidation event?
Leveraged short positions were crushed as BTC’s 6.4% surge triggered automatic sell-offs.
Is Bitcoin’s RSI indicating overbought conditions?
No. At 74, the RSI suggests BTC has room to grow before becoming overbought.
How does Bitcoin’s market cap compare to traditional giants?
At $2.34T, BTC briefly overtook Amazon and remains larger than Alphabet.
