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BREAKING: Bitcoin price hits record high as ETF demand overwhelms bearish market setup

Bitcoin has officially entered price discovery mode, breaking its May high as bearish indicators failed to contain ETF-led flows, growing corporate balance sheet adoption, and macro tailwinds. Traders who bet against the breakout are now fueling the rally’s next leg.
On July 9, Bitcoin surged over 2% to trade just above its prior all-time high of $111,970 set in May. The rally defied a wall of skepticism: short interest had climbed to $35 billion ahead of the move, while technical indicators flashed bearish divergences.
Bitcoin’s all-time high could be seen as confirmation that institutional capital flows, not retail leverage, now dictate crypto’s inflection points. The original cryptocurrency entered into the uncharted territory amid a macro environment clouded by hawkish labor data and a sudden drop in rate-cut expectations, defying short-term bearish sentiment that had gripped markets earlier in the week

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