Overview

• On July 9, Bitcoin briefly climbed above $112,000 before pulling back to around $111,000, marking a new all-time high.
• BlackRock’s iShares Bitcoin Trust has accumulated over $65 billion in BTC, contributing to $138 billion managed across 66 spot ETFs.
• A tech-led equity rally, highlighted by Nvidia reaching a $4 trillion market cap, reinforced a broader risk-on mood that boosted crypto assets.
• President Donald Trump’s decision to delay fresh tariffs until August 1 alleviated a key macroeconomic headwind for risk markets.
• Bitget Research analysts now project that Bitcoin could test $120,000 by month-end if institutional flows and bullish momentum persist.