Bitcoin's Price Surge: Is It Over or Just Beginning?

1. Bitcoin Hits $117,000, Market Remains Optimistic

Bitcoin reached a new all-time high of $117,000 on July 10, 2025, marking a 4% daily and 6% weekly increase. This surge is driven by ETF inflows, robust on-chain activity, and growing institutional interest, especially ahead of anticipated Federal Reserve rate cuts in Q3.

2. Technical Analysis Suggests Further Upside

Analyst Mags highlights that Bitcoin's 50-week moving average (50 WMA) has historically acted as strong support. Whenever Bitcoin touches this line, it often rebounds and climbs higher. If history repeats, Bitcoin could soon surpass $112,000 and aim for $130,000 or more.

3. On-Chain Activity Indicates Institutional Accumulation

Analyst Maartunn notes that over 19,400 BTC, worth approximately $2.11 billion, have recently moved from dormant wallets to institutional-level addresses. These coins hadn't been touched in three to seven years, indicating accumulation by institutional investors.