Key Notes
- Bitcoin’s rally to $113,700 triggered $652.7 million in liquidations with shorts accounting for 88% of losses.
- Former Binance CEO CZ posted cryptic Bitcoin message gaining 970,000 views in the course of the all-time excessive surge.
- Technical indicators present bullish MACD crossover and breakout above Bollinger Bands supporting continued momentum towards $120,000.
Bitcoin
BTC
$115 761
24h volatility:
3.9%
Market cap:
$2.30 T
Vol. 24h:
$55.82 B
worth entered one other main upswing on Thursday, July 10, amid a mixture of macro optimism and speculative momentum. With US President Trump renewing requires fee cuts, BTC worth swung previous the $113,700 mark to set new all time highs.
Donald J. Trump Fact Social 07.10.25 10:28 AM EST pic.twitter.com/YJikaFW705
— Commentary Donald J. Trump Posts From Fact Social (@TrumpDailyPosts) July 10, 2025
A more in-depth take a look at the derivatives markets reveals the rally caught many merchants unawares. As BTC worth touched $113,000, liquidations surged, wiping out $652.7 million in 24 hours. Of this, brief place losses of $579.27 million made up greater than 88%, according to Coinglass’ liquidation data, reflecting aggressive buying and selling amongst bulls.
Crypto market liquidation, July 10, 2025 | Supply: Coinglass
CZ Posts Cryptic Bitcoin Message Amid ATH Frenzy
Former Binance CEO Changpeng Zhao (CZ) broke his silence throughout Bitcoin’s surge, posting a cryptic but pointed message on X.
Hope you obtain the dip. https://t.co/P13m3r5eee
— CZ 🔶 BNB (@cz_binance) July 9, 2025
Regardless of recent legal battles and regulatory scrutiny, Zhao stays a key opinion chief inside the international crypto neighborhood.
The quote has since gained over 970,000 views in lower than 24 hours, with many decoding CZ’s message as an endorsement of Bitcoin’s long-term development potential amid risky market cycles.
With Bitcoin now firmly in worth discovery, short-term volatility is predicted. If bulls maintain the $110K stage as help, the following psychological goal lies round $120,000, pushed by derivatives momentum and ETF inflows.
Massive sized liquidations such because the $578 million brief positions worn out within the final 24 hours usually clear the trail for upward worth motion. Nonetheless, it may additionally set the stage for speedy correction dangers if numerous BTC traders decide to e book early income or rotate in direction of altcoins.
Bitcoin Worth Forecast: Bulls Eye $120K as Momentum Builds Above Bollinger Band
Bitcoin worth is hovering above the $113,300 stage on July 10, capping a two-day 6.1% rally. The breakout above $112,849, the higher Bollinger Band, indicators robust momentum and hints {that a} bullish continuation is probably going.
Extra so, the MACD indicator flipped bullish earlier this week. The MACD line (1,433) is properly above the sign line (960), displaying accelerating shopping for stress. Histogram bars are increasing, additional validating the bullish crossover.
Bitcoin worth forecast | Supply: TradingView
BTC additionally holds properly above the 20-day Easy Shifting Common (SMA) at $107,494, and the center Bollinger Band is trending upward. This technical alignment helps continued worth discovery if bulls defend help above $110,500.
If patrons keep management, the following main psychological goal is $120,000, adopted by a longer-term push towards $135,000. On the draw back, a detailed again beneath $110,000 may set off short-term profit-taking, with the following main help clusters at $107,000 and $102,000.
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Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed info however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm info by yourself and seek the advice of with knowledgeable earlier than making any selections based mostly on this content material.
Ibrahim Ajibade is a seasoned analysis analyst with a background in supporting varied Web3 startups and monetary organizations. He earned his undergraduate diploma in Economics and is at the moment finding out for a Grasp’s in Blockchain and Distributed Ledger Applied sciences on the College of Malta.
