Bitcoin Blasts Past $107,000: Is This the Start of a Summer Surge?

Hang onto your hats, crypto fans! Bitcoin just smashed through the $107,000 ceiling, marking its first big move after days of sitting still. Could it be the big players stocking up on BTC, or is July just bringing the heat?

Right now, BTC is chilling just over $107,000. As of July 2 at 7:30 UTC, the king of crypto is trading at a cool $107,111. It's up a tiny bit, 0.2%, in the last 24 hours.

Bitcoin's been holding steady above $107,000, with only a few quick dips to $106,982 before bouncing back up.

Looking back, BTC's been on a slow but steady climb. It's up 0.44% in the last week and a solid 2% over the past two weeks.

With the price jumping, Bitcoin's trading volume is also on fire. It's up 22.8% from yesterday, hitting $26.8 billion in the last 24 hours. The market's buzzing again!

The last time Bitcoin hit above $107,000 and even flirted with $110,000 was back in early June, on June 10. But then, things cooled off fast thanks to some serious geopolitical drama between Iran and Israel, plus the Fed playing it cool on interest rate cuts.

Big money's driving this surge, with folks like Michael Saylor and other firms jumping on the BTC bandwagon, adding it to their treasuries.

Bitcoin and other safe-haven bets like gold are getting a boost from the weakening U.S. dollar, which has been taking a nosedive, dropping a whopping 10.8% in the first half of 2025 alone.

Could July Boost Bitcoin Even Higher?

Get ready, because Matrixport analysts are calling it: BTC could soar to a new all-time high this month, maybe even hitting $116,000. They've dug into the history and found July's been a sweet spot for Bitcoin, with some serious gains year after year.

Take 2020, for example. BTC hit its July high, shooting up 23.9%. The next two years weren't too shabby either. On average, July's been good for a 9.1% return.

"This creates a clear risk or reward skew to the upside as we head into July," Matrixport analysts declared.

Just yesterday, BTC was stuck in a rut, showing signs of a bearish dive. But it's bounced back to $107,000 and is climbing steadily today.

As we kick off July, all eyes are on Bitcoin. Will it keep climbing and break free from the lull? Only time will tell!

Disclosure: This article is for your info and education, not investment advice. Keep learning and stay safe out there!