The outbreak of Bitcoin is not related to the Federal Reserve, but rather a market structure: analysts star-news.press/wp

The height of the Bitcoin record is not associated with $ 118,000 for the policy of the Federal Reserve or stocks. Instead, analysts say Spot Etf Demand and Corporate Treasury Estructies lead this historical step. Meanwhile, Altcoins rises in the aftermath of BTC.

Bitcoin (BTC) destroyed its highest level ever at $ 116,000 on July 11, as it reached its climax at 118,872 dollars before settling near $ 117,300, and withdrew a daily gain by 3 % with frenzy under the surface. ETHEREUM (ETH) outperformed BTC, an increase of 7 %, and the restoration of $ 3000 for the first time since February, while the mimoz was published like Dogecoin (Doge) and Shiba Inu (SHIB) dual digital gatherings.

According to Thomas Perfymo, the global economist of Karkan, Bitcoin “breaks a range for months” and enters a new area to discover prices. Perfumo indicated that more than a billion dollars have been filtered in short locations during the past 24 hours alone, while Bitcoin’s dominance has declined slightly – a rare sign that Altcoins leads shipping.

“At the same time, the force in American stocks, which is currently trading in or near its highest levels, is a strong environment for the risks, a background for encryption,” Birio said in a statement obtained from Crypto.News on Friday.

With Bitcoin’s dominance to 54 %, the market is witnessing rarely, as institutional accumulation and chaos derivatives gain fuel gains in all fields, not only at the top. The question now is not whether the macro is important, but whether the market mechanics in Crypto have been permanently separated from traditional operators.

Market structure, not macro, directs the assembly

What distinguishes this gathering from previous storms is its basis. Analysts do not refer to central banks or macro fluctuations such as spark. Instead, they see structural flows within the encryption market itself, most notably the direct impact of ETF immediate demand.

Bitcoin’s investment funds recorded one largest day of flows in 2025 on Thursday, withdrew $ 1.18 billion, according to Sosovero data. Ethereum Etfs followed her example with their second most performance in the year with $ 383 million. These are not the stakes of speculative futures or the deals of the agent through MicroCAP shares. They are direct and dense capital to assets.

Nikolai Sondargard, Nansen’s research analyst, looks at collapse through this lens.

“In my view, this is not a major gathering moved by the macro, but rather an isolated event. However, recent American political developments such as financial expansion and the expectations of more monetary mitigation have created an undeniable favorable background in BTCOIN. Crypto.News.

Sondergaard emphasized that the clean Bitcoin through the main liquidation levels, and its ability to adhere to it, was an operating point for this last gathering at the market level.

What follows the following hinges on sustainability. The previous marches relied on the winds with a macroeconomic. This one tests whether the interior mechanics of encryption, such as ETF flows, companies ’accreditation, and derivative markets – can support the assessments independently. If so, we may witness the birth of a new market model, as Crypto writes its own rules.