Bitcoin Breaks Records: $118,423 New ATH Confirmed
Bitcoin ($BTC) has officially broken its previous all-time high, reaching an impressive $118,423 on July 11, 2025. This breakout marks a major milestone in Bitcoin’s price trajectory and signals a potential new wave of momentum in the crypto market.
BTC/USD 4-hours chart – TradingView
For weeks, Bitcoin had been consolidating tightly between $105,000 and $110,000, frustrating both bulls and bears. But behind the scenes, significant factors were brewing—particularly the aggressive accumulation by institutional players and large corporations. In the past month alone, on-chain data and public announcements have revealed substantial Bitcoin purchases from hedge funds, publicly listed firms, and even sovereign-backed funds looking to hedge against global economic uncertainty.
This surge in institutional demand finally tipped the balance, fueling the explosive breakout we’re seeing now.
BTC Chart Analysis: Momentum Has Taken Over
From a technical standpoint, the 4-hour BTC/USD chart paints a textbook breakout scenario:
Breakout Level: $109,000
The orange line highlights the key resistance that Bitcoin struggled to break for over two weeks. This level turned into a solid launchpad after a series of accumulation candles near it, confirmed by the yellow arrow before the breakout.
Volume Surge & Bullish Candles
Once $109K flipped into support, price action turned vertical. The size and consistency of the green candles signal strong buying pressure and little profit-taking—hallmarks of institutional conviction.
BTC/USD 2-hours chart – TradingView
Overbought RSI: 85.13
The Relative Strength Index (RSI) is deep in overbought territory, currently reading above 85. While this often precedes short-term cooling, it also reflects immense strength. As long as RSI stays elevated with minimal divergence, the trend remains strong.
Next Target Zones
With the ATH breached, BTC enters price discovery mode. Traders now eye $120K as the next psychological and technical milestone. A retest of the $109K breakout zone is possible, but only if momentum slows.
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