Bitcoin Hits $118K as Bulls Dominate and Crypto Confidence Surges

Bitcoin’s explosive rally past $118,000 is shaking markets, wiping out $1B in shorts, and reigniting institutional interest. Meanwhile, speculation swirls over Satoshi-era wallets, and Bitcoin advocates warn of limited supply.

Joe G & Money Talks
July 11, 2025 • Estimated Reading Time: 4 minutes

What we will talk about today...

Bitcoin Breaks $118K in Historic Rally

$1B in Shorts Liquidated as Bears Get Crushed

Samson Mow: 'There’s Not Enough Bitcoin For Everyone'

Rumors Swirl Over ‘Satoshi Wallets’ as Ripple CTO Weighs In

Bitcoin hits a new all-time high as institutional demand surges and macro tailwinds boost investor confidence.

$118,404.42 ATH: Bitcoin jumps above $118K amid rising demand from ETFs and corporate treasuries.
$1.5B in ETF inflows: Institutional money floods in, fueling the breakout.
Trump’s tariff policy: US equities drop as Bitcoin acts as a hedge against geopolitical risk.

“Bitcoin is evolving into what its advocates envisioned, an asset detached from political turbulence.”

Axel Rudolph, Senior Technical Analyst

Traders betting against Bitcoin just got steamrolled in a massive short squeeze.

$833m in shorts liquidated in the past 24 hours
Bears in disbelief
— Miles Deutscher (@milesdeutscher)
9:34 PM • Jul 10, 2025

$1.01B wiped in 24h: 232,149 traders were liquidated, mostly from Bitcoin and Ether shorts.
BTC drives the pain: Over $570M in BTC shorts were liquidated as the price soared.
Market cap spikes: Crypto market cap now sits at $3.63T, up 4.4% in one day.

“MASSIVE short squeeze on BTC & ETH.”

Bitcoin maximalist Samson Mow issues a supply warning as BTC breaks new records.

There’s not enough #Bitcoin for everyone.
— Samson Mow (@Excellion)
8:13 PM • Jul 10, 2025

11.6%
— Samson Mow (@Excellion)
9:36 PM • Jul 10, 2025

$118,403 new high: Bitcoin jumps nearly 7% in under 24 hours.
ETF pressure mounting: Demand from institutions is draining available BTC supply.
Still under $200K: Mow reminds investors that BTC is “cheap” — for now.

“There’s not enough #Bitcoin for everyone.”

Samson Mow, CEO of JAN3

Speculation over possible compromise of old Bitcoin wallets sparks community debate.

Strange on-chain messages: Claims of wallet takeovers from early-era addresses raise alarms.
Ripple CTO responds: David Schwartz says it’s likely wallet laundering or old-key reuse, not a hack.
No breach confirmed: No movement from known Satoshi wallets; Bitcoin’s core security remains intact.

“This doesn’t show any flaw in Bitcoin’s design, it’s an old risk, not a new threat.”

CAN YOU PREDICT THE PRICE?