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Bitcoin Tops $112,000 on ETF Inflows and Tech Rally

Large ETF inflows triggered a short squeeze that propelled bitcoin past $112,000 following a tech stock rally

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Bitcoin, Bitcoin Prices, Bitcoin Price Today

Overview

  • Bitcoin briefly surged past $112,000 on July 9 before stabilizing around $111,000 in the strongest breakout since May
  • Sustained spot ETF inflows fueled renewed institutional buying that underpinned the price advance
  • A risk-on shift led by Nvidia’s record equity gains propelled broader crypto momentum with Ethereum jumping over 6% to monthly highs
  • Data from CoinGlass shows more than $425 million in leveraged short positions were liquidated, intensifying bitcoin’s ascent
  • A U.S. tariff postponement to August heightened focus on pending crypto-friendly legislation as the next catalyst