Bitcoin strikes 112 thousand dollars, but there is something that feels

Bitcoin to move again.

The largest encrypted currency in the world increased by market value after a symbolic teacher on Wednesday, as it reached $ 112.055 on the Coinbase Exchange around 3:55 pm Each time. This is the highest price ever recorded for Bitcoin on Coinbase, exceeding $ 111,891 in May. With this last increase, Bitcoin has increased by almost 20 % since the beginning of the year.

The sudden step of merchants moved and returned hopes between believers in Bitcoin. For weeks, the prices seemed to be stagnant. Then, within an hour, everything changed.

According to the Coinglass provider, the assembly was run by liquidating short positions, which total about $ 280 million. In simple phrases: traders who bet on bitcoin – in the hope of the price decreased – forced to purchase their sites with an unexpected rise in the price. Pour this “short pressure” fuel over the fire, rushing the price jump.

“Liquidity is highly used from liquidity,” one of the observers noticed on X, referring to the reaction of the chain that occurs when high -benefit situations are eliminated.

#BTC Filter heat map (24 hours)

High leverage liquidityhttps://t.co/nu9ktjmzy2 pic.twitter.com/vmtsuoleme

– Coinglass (@Coinglass_com) July 9, 2025

But behind the excitement is a more complex image.

Bitcoin is prosperous. But no noisy

Despite the record price, the Bitcoin trading activity is still quietly quiet. Data on the series show that although large amounts of bitcoin, many of them do not move. Instead of circulating it actively, the coins are transported to secure the “cold storage” portfolios, which leads to effectively removing them from the market.

This dynamic demand – strong, but few actual movement – reduces the immediate budget direction of speculators. Prices can only rise without a wave of new buyers who enter the market.

“Another person sells it,” said Jim Chaanus, legendary, Jim Chanus, who is known for his early call against Enron. His point of view? Even in a mass rally, someone spends it.

Bitcoin, who was once imagined as an counterpart to a counterpart, is now acting like digital gold: a long -term store for value instead of a way to exchange. For many investors, it is hedging, something that must spend.

At the same time, Stablecoins wins

With bitcoin absorbing it as a speculative reserve origin, another category is quietly used: stablecoins.

Stablecoins – such as USDC or Tether (USDT) – are encrypted currencies raised to the value of the US dollar. Unlike Bitcoin, it is not designed to estimate prices. It aims to maintain a fixed value and is increasingly used in border payments, decentralization (Defi), and even transfers.

In short, Stablecoins gives interest in the real world. Bitcoin is no longer part of that story anymore.

Correction: Mention of a previous version of this article incorrectly that Bitcoin amounted to 122 thousand dollars. The correct number is 112 thousand dollars.