Ah, the sweet scent of Bitcoin reaching a new all-time high of $112,000 on Tuesday! 💸 A delightful 3% increase, no less, as the world eagerly awaits the Federal Reserve’s next move.
The excitement began when the Fed’s June FOMC minutes were released, revealing that most policymakers are in favor of at least one rate cut in 2025. Some even suggested it could happen as early as the next meeting on July 30. 📅
Traders, being the clever creatures they are, interpreted this as a sign that liquidity conditions might improve in the second half of the year. Lower interest rates typically make risk assets like Bitcoin more appealing by reducing the opportunity cost of holding them. 🤑
On-chain data shows that both short- and long-term holders are accumulating BTC. However, some analysts are concerned about weak spot demand. Despite the price breakout, there’s limited evidence of sustained buying pressure on centralized exchanges. 🤔
The move above $112,000 puts Bitcoin in uncharted territory, known as “price discovery.” The breakout clears a key resistance level held since its last all-time high in May 2025. 🚀
8,000 BTC Moved from 6-Year Dormant Wallets
“About an hour ago, two wallets that had held Bitcoin for over six years each moved 4,000 BTC, totaling approximately 8,000 BTC.” – By @mignoletkr
— CryptoQuant.com (@cryptoquant_com) July 9, 2025
Ethereum also experienced modest gains, trading near $2,800. Altcoins were a mixed bag, with most showing low volatility. 😴
Looking ahead, the crypto market will be keeping a close eye on June CPI data due July 11 and the Fed’s July 30 decision. Both will be crucial in confirming whether the Fed will start cutting rates this summer. ⏳
For now, Bitcoin’s new high is a testament to the growing confidence that US monetary policy is shifting towards easing. 💭
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2025-07-10 00:01