Bitcoin Breaks ATH Many Times on Institutional Buying

BTC Hits Report At 3:30 PM Following 6:20 AM
Cryptoquant "BTC Rises, Institution-Investors"
Expert "If BTC Holds $110K Next Target $150K"

Bitcoin(BTC) broke new highs on Jul. 11 in a row due to institutional buying, and altcoins also soared due to Bitcoin's record breaking, creating a clear upward market atmosphere.

Bitcoin broke through the previous high, recording $116,526 at 6:20 a.m. Since then, it has continued to rise and break new afternoon highs. At 3:30 p.m., Bitcoin hit 118,390 dollars, breaking a new high again.

The reason is institutional buying. CryptoQuant, an on-chain analysis platform, reported in a report released on the 10th that individual investor buying in the central exchange(CEX) reached its lowest level since April.

The net inflow of CEX individual investors fell to less than $12 billion in July, as disclosed by CryptoQuant. In particular, the net inflow of individual investors was found to have intensified just before Bitcoin hit a new high on the 10th.

Bitcoin remains at $117,000 at 4 p.m., aiming to break the record again. Altcoins also showed a clear upward trend, with the majority recording a rise of more than 10%.

◇Bitcoin = Bitcoin price is $117,325 at 4:30 p.m. on Jul. 11, 2025. The Bitcoin share(dominance) was 64.81%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 32.10% and 67.90%, according to the on-chain analytics platform Sigbtc.

Experts predicted that Bitcoin would rise even scarier if it remained at $110,000.

CoinTelegraph, a cryptocurrency media outlet, reported that Bitcoin's next target price will be $150,000, combining expert comments.

CoinTelegraph pointed out that the graph of Bitcoin could face a strong sell-off around $113,800 depending on the reverse head-and-shoulder pattern.

Kyle Reidhead, co-founder of Milk Road, a cryptocurrency information provision platform, said, "The next target is $150,000 if buying is added from $110,000 and upward pressure occurs."

Marcus Thielen, head of research at 10X Research, a cryptocurrency market analysis company, emphasized, "There is a 60% chance that Bitcoin will rise by more than 20% over the next two months."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 11 was Altrayer(ALT), up about 32% on the day alone.

Altrayer is a project that provides a Rollup as a Service (RaaS) platform, helping projects without expertise in coding or blockchain technology to easily build rollups.

In addition, Altrier will also provide AVS (Actively Validated Service) infrastructure that enhances security, decentralization, and interoperability, and can be used for various purposes such as staking and governance.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 71 points. The greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 84.7, which was 'overbought'. The RSI sets the relative strength between the upward and downward pressures of a particular asset price and is an indicator of the over-buying and over-selling measures of a particular asset.

권승원 기자 ksw@blockstreet.co.kr