Bitcoin Breaks $118K as Holders and ETFs Tighten Supply

• Long-term holders now control 75% of Bitcoin’s total supply.
• ETF inflows absorbed 10,000 BTC, outpacing daily network issuance.

Bitcoin continues its upward momentum, recently breaching the $118,000 mark amid strong market support. Glassnode data show long-term Bitcoin holders (LTHs) now hold approximately 75% of the total BTC supply. 

This figure marks an all-time high, indicating deep investor conviction and a decrease in short-term speculation. Historical data shows that similar LTH supply levels often precede major rallies.

The correlation between rising LTH supply and price movement is evident. Bitcoin tends to gain strength during accumulation phases, as reduced liquid supply limits downward pressure. 

Analyst Mikybull noted this trend supports a “more room for higher” price outlook. The current supply structure, marked by tightening availability, creates a bullish setup as distribution weakens.

Bitcoin Breaks Out Above $118K

Bitcoin surged to $118,146, posting gains of 0.27% in a two-hour period. The move confirmed a breakout from a key resistance range between $111,000 and $112,500. This zone has now flipped into support, reinforcing positive sentiment and strengthening the current uptrend.

The rally began on July 10, when sideways trading gave way to sustained buyer pressure. Bitcoin added over $7,000 in value with strong green candles and minimal retracement. 

Currently consolidating just under $119,000, the market faces resistance at the $120,000 level. Should momentum fade, traders expect a potential retest of the $112,000–$113,000 support range.

ETF Inflows Signal Institutional Buying Surge

Institutional interest in Bitcoin is accelerating, driven by demand from spot Bitcoin ETFs. CNBC reported that on July 10, ETFs absorbed nearly 10,000 BTC in a single day. This figure far exceeds Bitcoin’s daily issuance of 450 coins, underscoring extreme demand pressure.

Matt Hougan of Bitwise said July 10 marked the second-largest net ETF inflow day ever. He projected that 2025 ETF flows could outpace those of 2024 by a wide margin. 

This spike in institutional activity has fueled market speculation that Bitcoin may reach $200,000 by year-end. As supply tightens and accumulation rises, bullish momentum continues to build.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.