Key Points
- The US BTC ETFs recorded their second-biggest inflow day on July 10 at $1.18 billion.
- BTC price is supported by continued institutional interest and rising global adoption.
On July 11, Bitcoin recorded a new ATH above $118,000, supported by multiple factors including rising global adoption and continued institutional support.
Bitcoin Hit a New ATH Above $118,000
At the moment of writing this article, BTC is trading above $118,000, up by more than 6% in the past 24 hours.
BTC price debuted a rally on July 10 from $110,000 levels, hitting over $116,000, and then continuing to reach one new ATH after another.
Now, BTC is worth $0.118 million, marking a remarkable achievement due to global support, rising adoption, and continued institutional interest.
Currently, with a market cap of $2.344 trillion, BTC is sitting in the 6th spot in the top assets by market cap in the world, surpassing Google and having Amazon as the next target.
BTC ETFs Recorded $1.18 Billion in Inflows on July 10
July 10 marked the second-biggest inflow day in history for BTC ETFs at $1.18 billion. BlackRock's IBIT saw the biggest inflow above $448 million, followed by Fidelity's FBTC at over $324 million.
The biggest inflow day recorded by the crypto products in the US was November 7, when BTC ETFs saw $1.38 billion in inflows.
As of July 10, the total net assets in BTC ETFs were over $143.8 billion, and the cumulative net inflow in the crypto products surpassed $51.34 billion, according to data from SoSoValue.
Optimism Is Rising in the Crypto Industry
With Bitcoin reaching a new ATH after another, optimism is rising in the crypto industry amidst continued global adoption. The general crypto market is up by over 6% in the past 24 hours, while the Fear and Greed Index is currently in the Greed section.
The crypto industry is celebrating Bitcoin's latest achievement and resilience.
Binance's CEO, Richard Teng, shared a post via X to celebrate and said that Bitcoin's latest ATH is a testament to its enduring resilience and growing adoption.
He said that this momentum reinforces Binance's vision for a more inclusive and accessible financial future for everyone.
The entire crypto industry is looking forward to the future with optimism and high hopes.
