Bitcoin at $ 113,804: why this climb could only be the start

It was both predictable and almost unreal: Bitcoin, engine of the crypto universe, has just inscribed a new summit in the history of digital assets. For weeks, the signals accumulated, the bets intensified, but there are few who imagined such a clear, as fast ascent. And yet, the digital ogre has Rugi, unrolling an almost millimeter rise. Behind this record are taking shape with combined forces, a more complex story than the simple bullish euphoria.

One more summit for Bitcoin: What does this figure tell us?

The story of this climb is written by stages. First of all, $ 112,000 crossed last nightfirst alert. Then, a continuous thrust, without real break. This morning, $ 113,313 was exceeded. And finally, Apotheosis: $ 113,804 recordedjust before a light return under $ 113,300.

This sequence is not trivial. She reflects A sustained requestmainly channeled by the ETF Bitcoin Spot, which have drained massive flows. Ibit, in particular, catalyzes these volumes. And what the graphics whisper, Coindesk analysts confirm it: A “flag bull” detected on the curves glimpse a potential increase of 30 %which would propel the price of the BTC around $ 140,000.

For their part, the predictive markets are panicking. On Polymarket, 76 % of participants see Bitcoin exceed $ 115,000 From this month of July. A figure that sets the tone, in a climate already loaded with optimism.

Institutions, geopolitical, and the Trump effect: behind the scenes of the rally

But this climb is not limited to technical analysis. Behind the scenes, the crypto machine runs at full speed, boosted by exogenous factors.

First dynamic: theMassive entry of institutional investors. According to analysts, institutions are no longer content to observe. They buy. And they buy en masse, in a market where the offer remains limited. This rush has drained powerful volumes on the Spot markets, in particular via the ETF.

Second factor: geopolitics. Donald Trump, in a tense campaign climate, promised to new customs tariffs between 25 % and 50 %targeting key sectors like semiconductors. Result ? The dollar climbs against the yen, as Reuters explains, and investors turn to alternative assets, including Bitcoin.

Finally, The uncovered sellers capitulate. According to Digital Watcharound 35 billion dollars of shorts have been liquidated, amplifying a formidable squeeze shorts, which catapulted the courses.

The crypto-shared rushes around $ 140,000: credible scenario or euphoria?

In the ambient euphoria, some are already dreaming of new summits. And for good reason, several data converge on an ambitious objective.

• $ 113,804, a new absolute record reached before a moderate withdrawal;
• +4 % increase in the day of July 10, after a +3.5 % the day before;
• 30 % bullish potential according to the “Bull Flag” model;
• 76 % like Bitcoin reached $ 115,000 in July (Polymarket);
• 35 billion $ in liquidated selling positions, triggering massive squeeze shorts.

These figures are not smoky projections, but facts observed: the price of bitcoin is progressing 21.3 % since the beginning of 2025. Many investors see this momentum a remake of the euphoric period at the end of 2020, but with a much more mature actor, supported by a stronger infrastructure.

In addition, inflation is falling in the United States, offering peaceful land for the markets. Bitcoin, in a good uncertain period barometer, benefits from this relaxed climate. This dynamic may not stop there.