Bitcoin Hits Fresh All-Time High Above $116,000 — But Is the Euphoria Justified?
Bitcoin has smashed through yet another record, climbing to over $116,000 — an impressive $4,000 surge in just 24 hours. According to major crypto exchanges on July 11th, the market is abuzz with optimism as open interest on Deribit shows traders eyeing even higher strike prices at $115,000 and $120,000.
Institutional demand continues to be cited as a major driver. Chris Newhouse, a researcher at Ergononia, noted that “the options market is fueling Bitcoin’s new bull run.” Even Donald Trump has thrown fuel on the fire, declaring on Truth Social that crypto is “breaking through the roof” alongside tech and industrial stocks hitting record highs.
Yet amid the hype, some cautious voices remain. From my perspective, whenever Bitcoin enters uncharted territory like this, the risk level inevitably spikes. At all-time highs, most short positions tend to be wiped out, leaving little buffer against sudden dumps. While a defensive approach is usually sensible here, it’s worth noting that Bitcoin today feels less powerful than it did during the 2021 bull run. Could this new rally, driven by FOMO, push the market cap even higher? Perhaps it’s worth a careful look — but remember, this is purely my personal view and not financial advice.
What’s your take? Do you believe Bitcoin can sustain this momentum, or is a sharp correction looming? Join the conversation and share your thoughts!
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