Bitcoin rises to a new record high of 116,000 USD, forecasted to reach 130,000 USD by autumn.

Bitcoin surged to a record high of $116,664 on Thursday, driven by rapidly increasing institutional demand, a surge in ETF capital inflows, and new political momentum from the Trump administration. The latest price surge surprised traders and caused the highest liquidation wave in years, signaling a strong shift in momentum. As of 11:15 PM Eastern Time (ET), Bitcoin has surpassed the previous high of $113,734 set just a few hours earlier. The largest cryptocurrency in the world has now risen about 24% year-to-date, with analysts targeting $130,000 as the next important threshold. According to 10X Research, the latest price increase occurred when the market structure shifted to a clear bullish trend. Traders Rush to Change Positions After Quiet Volatility Triggers Uptrend In a note sent to customers, the company stated that a short-term breakout signal has been activated, followed by an average increase of 20%. This implies that the price target will reach nearly $133,000 by September. Markus Thielen, the founder of 10X, shared with Cryptonews: "Our trading signals indicate that this short-term breakout has a 60% chance of further increasing in the next two months." Behind the scenes, the context has quietly changed. Recent implied volatility has hit a multi-month low, giving traders an opportunity to place bullish bets at a low price. At the same time, many companies have faced a shortage of information after the options expired in June, leading to a scramble to reposition. Over 1 Billion USD in Short Positions Liquidated as Bitcoin Surges According to data from CoinGlass, in the past 24 hours alone, over 1.14 billion USD in leveraged positions have been liquidated. Of that, nearly 1.02 billion USD came from short-selling traders. Bitcoin accounts for more than half of the total losses, with $591 million liquidated. Ethereum lost $241 million, while smaller tokens such as Hyperliquid, Solana, and XRP also suffered heavy losses. Trump's Policy, 15 Billion USD Buying ETF Adds Fuel to the Fire for Bitcoin This new wave of volatility comes as Trump's cryptocurrency-friendly policies are attracting attention. In March, the president signed an executive order to establish a national cryptocurrency reserve fund. Since then, his administration has appointed cryptocurrency advocates to key positions, including Paul Atkins of the SEC and David Sacks, head of AI policy. Meanwhile, companies related to Trump are increasingly getting more involved. Trump Media & Technology Group recently filed to launch a cryptocurrency ETF, holding various types of tokens, including Bitcoin. With stable ETF demand, loose macro conditions, and favorable regulations, many traders now see this breakthrough as the beginning of a broader uptrend. "Bitcoin may be transitioning to a higher trading range," Thielen said. "Since mid-April, Bitcoin ETF funds have purchased $15 billion in BTC and they are driving the price up." As the cryptocurrency market heats up once again, all attention is focused on the CPI index of the United States next week and the start of "Crypto Week" in Washington, both of which could bring new catalysts or risks for the world's most closely monitored digital assets. $BTC {spot}(BTCUSDT)