Bitcoin registers a new all-time high of over $113,500. The short settlement continues

Bitcoin (BTC) continues to ascend to price discovery, reaching a new all-time high of over $113,600 on July 10th.

The move completed a two-day climb from around $108,950 in the second half of July 8th, overturning the previous one. July 9th peak at $112,000.

In particular, according to Coinglass, the recent peak price has prompted liquidation of over $50 million within an hour. data.

ETF demand strengthens supply

The Spot Bitcoin Exchange-Traded Funds (ETF) was its fifth straight positive session on July 9th, registering $218 million with enough net creation to push cumulative inflows of over $50 billion.

According to data from SosoValue and Farside Investors, BlackRock’s IBIT LED led the assignment.

Additionally, macro criteria have been added to the bid. After Federal Reserve minutes signaled support for rate cuts “late this year,” the dollar index slipped in three consecutive sessions, with the market assessing the potential inflationary effects of the new US tariff threat.

Jag Kooner, head of derivatives at Bitfinex, argued that tariff-driven price pressures “willing down the dollar and lifting real asset hedges could ultimately bring Bitcoin a profit.”

Leverage reset is upside

CME and Binance’s Bitcoin futures trade at an annual premium of 9% to 11% within the neutral zone of this cycle, far below the 35% extreme seen in March, suggesting a suppressed directional bet.

Currently, the Technical Marker has initial support placed at $107,000, a 50-day moving average, and top of the previous June range.

At the same time, the overhead resistance is around $112,800-113,000, and sales orders are clustered overnight.

Transaction data shows that short-term holders realized small benefits during the meeting. Bitcoin’s July 10th high and July 9th closure print left an MVRV Z score of nearly 2.4, exceeding $111,000.

This level is well below the 7 euphoric threshold used in past cycles.

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