On July 11, 2025, Bitcoin (BTC) surged past $118,000, marking a historic high. According to CoinMarketCap real-time data, Bitcoin rose 6.56% in the past 24 hours, 7.5% over the week, and an impressive 152% year-to-date.
Market sentiment is blazing hot, with investors on social media cheering: “BTC broke $118,000, the Asian session is still soaring, those waiting for a pullback are missing out!”
However, the rapid ascent caught pullback-awaiting investors off guard, as no meaningful correction materialized—and FOMO took hold across the board.INSTITUTIONAL FUND INFLOW: ETF FUELS PRICE ROCKET
The biggest short-term driver behind Bitcoin’s break above $118,000 is institutional capital inflows.
In particular, spot Bitcoin ETFs have served as the “rocket fuel” for this rally. According to Bloomberg, as of July 11, global Bitcoin ETFs saw record weekly net inflows, with BlackRock’s iShares Bitcoin Trust (IBIT) alone netting $448 million on July 10.
A market participant on social media noted: “Institutional buying is unstoppable—IBIT accumulation is directly pushing BTC to new highs, retail simply can’t keep up!”
Through massive ETF purchases, institutions have sharply reduced Bitcoin’s available supply on exchanges. Glassnode data shows that on July 11, BTC holdings on major crypto exchanges declined to 1.8 million BTC, the lowest level in three years.
The resulting supply-demand imbalance has directly propelled price gains. At the same time, ETF-driven FOMO has gripped retail investors.
Fearful of missing out on further gains, many abandoned their wait-and-see strategies and rushed in, amplifying upward momentum.
Social sentiment captures this echo: “ETF inflows are like a flood—BTC just won’t stop!” This synergy between institutions and retail stands at the heart of Bitcoin surpassing $118,000.
MARKET MOMENTUM & TRADING FRENZY: ASIAN SESSION FUELS SURGE
Bitcoin’s rise is underpinned by strong market momentum. On the night of July 10, BTC broke the key $114,000 level, and during the Asian trading session on July 11, it pushed past $118,000.
Glassnode shows on‑chain transaction volume spiked 35% at the breakout—reaching a monthly peak—indicating unprecedented market participation.
One social media trader stated: “Volume exploded when BTC crossed $114,000—this is a full-on bull signal, no pullback in sight.”
Asia’s trading surge injected massive energy. Crypto exchanges in Hong Kong and Singapore hit monthly highs in night trading, with Binance and OKX seeing BTC volume spike 45% during the early hours of July 11.
Especially between 2 AM and 4 AM HKT, activity surged and leveraged trading climbed. Investors commented online: “Asian session buys have gone crazy—BTC directly blasted past $118,000!”
This fervent activity not only cemented the upward move, but also squeezed out pullback opportunities.
WHY DID THOSE AWAITING A PULLBACK MISS OUT?
In this bull cycle, pullback windows have become extraordinarily brief—or non-existent. At the end of June, BTC dipped from $110,000 to $105,000, only to recover within 48 hours.
The July 11 breakout came without any discernible pullback—the price shot from $116,000 straight through $118,000, leaving those waiting for it in the dust.
One social media user complained: “Every time I wait for a pullback, the market just pumps instead—it feels like it’s mocking me.
Several factors lie behind this phenomenon. First, institutional buying heavily suppresses pullback potential. ETFs and large institutions buying into dips quickly absorb selling pressure.
For example, when BTC briefly fell to $115,000 during trading on July 10, buying demand lifted it back above $116,500 in under two hours. Second, global crypto market liquidity is higher and order book depth deeper, meaning retail selling rarely moves the needle.
As one investor put it: “Institutions were waiting at $115k—retail hoping for $110k? No chance!” So those expecting 10–20% deep pullbacks were repeatedly disappointed, missing optimal entry points.
Compared to 2017 or 2021’s bull cycles, the 2025 Bitcoin market is fundamentally different. Previously, retail-driven speculation led to swings of 20–30%, creating entry windows. Now, with institutional dominance, everything has changed.
Companies like MicroStrategy have continued to buy: as of July 11, their holdings exceed 250,000 BTC, while exchange BTC supply sits at a three‑year low of 1.8 million BTC. This shortage has made prices highly responsive to buys and resilient to sells.
One trader commented: “Institutions setup at $110k—retail waiting for $100k? Forget it!” Institutional depth not only lifts the market floor, but compresses the pullback timeline.
For instance, after BTC broke $112,000 on July 9, a correction was expected—but institutions quickly drove it to $118,000, blindsiding patient traders. Under this new market regime, “waiting for pullback” is obsolete strategy—and missing out is inevitable.
Bitcoin’s New Era: No Pullbacks, No Mercy
The July 11 rally proves one thing: Bitcoin is no longer the same beast as in 2017 or 2021. With institutional giants like BlackRock and MicroStrategy absorbing supply through ETFs and strategic buys, traditional pullback strategies have become outdated. The convergence of limited exchange supply, relentless ETF inflows, and surging global liquidity has created a high-velocity market where Bitcoin climbs with little resistance—and punishes hesitation. In this new cycle, those still waiting on the sidelines risk being permanently left behind.
