Latest news, Bitcoin (BTC) price has once again set a historical record, breaking through $118,868, with a 24-hour increase of over 5%, and a total market capitalization of $2.36 trillion.

【BTC Price Trend Analysis】

Candlestick Pattern:

• The daily chart shows a continuous rise over several days, forming a clear upward trend. Recently, the price broke through the previous high of 116,868 (July 10) and set a new high of 118,868.
• The hourly chart shows a short-term pullback, but overall it remains in a state of oscillating upward, with highs gradually rising and lows also continuously increasing.

Technical Indicators:

• MACD: The hourly chart shows both DIF and DEA are positive and continuing to diverge upwards, indicating that the current market is in a strong bullish trend; however, starting from 18:00, the red bars have shortened, which may indicate a short-term adjustment.
• RSI: The hourly chart shows a value of 76.62, close to the overbought range, necessitating caution against short-term pullback risks; the daily chart RSI remains at 82.30, indicating a strong trending upward movement.
• EMA: The hourly chart shows EMA7, EMA30, and EMA120 in a bullish arrangement, with prices consistently running above EMA7, indicating strong support in the short term; the daily chart EMA also maintains a bullish arrangement, further confirming the upward trend in the medium to long term.

Trading Volume:

• The daily trading volume has significantly increased, especially reaching 24,883 on July 10, indicating active participation from funds, driving prices up rapidly.
• The hourly trading volume decreased from 17:00 to 18:00, suggesting a weakening of short-term momentum, which may lead to a consolidation phase.

Shanghai Policy Signals: The Catalyst for the Blockchain Boom

On July 10, the Shanghai State-owned Assets Supervision and Administration Commission held a study session on "Trends and Strategies for Cryptocurrency Development," focusing on the application of blockchain in cross-border trade and supply chain finance, signaling a gradual clarification of policies. Although China has maintained strict regulation on cryptocurrency trading since 2021, blockchain technology continues to receive government support due to its transparency and efficiency advantages. Shanghai's Pujiang Shulian plan aims to establish city-level blockchain infrastructure by 2025, and this study session is seen as the latest action by local governments to implement the national blockchain strategy.

The policy discussions in Shanghai have directly catalyzed market sentiment. In the early hours of July 11, Bitcoin broke through $117,548, setting a new historical high, and reached another high at 17:36 on the same day. Although the study session did not explicitly mention the lifting of restrictions on cryptocurrency trading, the advancement of blockchain applications is still interpreted by the market as an indirect endorsement of digital assets.

Spot ETF Boom: Continuous Push from Institutional Funds

According to AiCoin monitoring, the net inflow amount for the U.S. spot BTC ETF reached $1.176 billion yesterday, setting a record high since April 18, reflecting strong demand from institutional funds. The corporate "coin hoarding" trend also supports the price. MicroStrategy holds 597,330 BTC, Marathon Digital added 5,000 BTC, and Oracle and Fidelity are reportedly planning to include BTC on their balance sheets. These actions not only increase demand but also reinforce Bitcoin's narrative as "digital gold."

Global Context: Tariffs and Safe-Haven Demand

Global economic uncertainty provides additional support for Bitcoin's safe-haven demand. The Trump administration has postponed the effective date of tariffs to August 1, but the threat of up to 70% tariffs on 14 countries, including Japan and South Korea, remains. Julius Baer economist David Kohl warned that tariffs could drive up U.S. inflation and exacerbate stagflation risks. Meanwhile, Tether's disclosure of $8 billion in gold reserves highlights the commonality of safe-haven assets between precious metals and crypto assets, with some investors possibly viewing Bitcoin and gold as a hedge against fiat currency risks.

Conclusion

However, high-leverage trading, regulatory uncertainties, and the risk of "good news being fully priced in" remind investors to remain cautious. The cryptocurrency market in 2025 stands at a historic turning point, with Shanghai's policy experiments and global macroeconomic dynamics determining whether Bitcoin will continue to soar or enter a phase of volatility.

This article is for informational sharing only and does not constitute any investment advice to anyone.

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