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