BTC surpasses $119,000, gains 2.2% intraday

BTC surpasses $119,000, gains 2.2% intraday

Bitcoin (BTC) has surged past $119,000, marking a significant milestone in its ongoing bull run. This rapid ascent can be attributed to a series of factors, including increased institutional investment and growing acceptance as a legitimate asset class [3].

The price surge comes on the heels of substantial inflows into Bitcoin ETFs, which have been a driving force behind the asset's appreciation. Over $2.2 billion poured into U.S. spot ETFs in just 48 hours, pushing the digital asset to an all-time high [1]. This surge in demand has outpaced supply, with ETFs acquiring nearly 10,000 BTC while just 450 BTC were mined on July 10 [1].

BlackRock's iShares Bitcoin Trust (IBIT) has been a significant contributor to this trend, recording over $1.4 billion in inflows across two days and now managing assets under management (AUM) of nearly $80 billion [1]. Other ETF issuers, such as Fidelity and Ark 21Shares, have also seen substantial inflows, further fueling the price momentum [1].

The ETF market now represents 6.43% of BTC's market capitalization, equivalent to over $150.6 billion in assets [1]. This shift in institutional ownership has led to increased liquidity and bullish price pressure, as the sell side struggles to keep up with demand.

The recent surge in Bitcoin's price has also been influenced by regulatory developments. The U.S. government's approval of Bitcoin reserve holdings for institutional balance sheets has further encouraged institutional participation in the market [1].

Despite the recent gains, the cryptocurrency market remains volatile. A dormant Bitcoin whale's decision to cash out $2 billion worth of BTC has temporarily dampened the market, causing Bitcoin to drop below $117,000 [2]. However, this move is likely to be a one-off event, and the overall trend remains bullish.

Analysts remain optimistic about Bitcoin's prospects, predicting that ETFs could eclipse gold ETFs in AUM within the next few years if current momentum holds [1]. The finite supply and transparent inflows via ETFs provide a unique supply discipline, making Bitcoin a compelling investment option.

As of July 2, 2025, Bitcoin's price stands at $119,000, with a 2.2% intraday gain. The current bull run is likely to continue, driven by institutional investment, regulatory support, and growing acceptance as a store of value.

References:
[1] https://www.tradingnews.com/news/bitcoin-btc-usd-price-surge-on-15b-usd-etf-inflows-pushing-toward-132k-usd
[2] https://zycrypto.com/bitcoin-nosedives-under-117000-as-enormous-og-whale-cashes-out-2-billion-btc-after-14-year-hodl/
[3] https://www.ainvest.com/news/bitcoin-surges-119-000-driven-institutional-investment-2507/