Bitcoin Rockets to $118,668: Sixth All-Time High in Two Days!

Holy moly, folks! Bitcoin just smashed through the roof, hitting a mind-blowing $118,668 on July 11. That's right, the sixth all-time high in just two days!

Over the last 48 hours, BTC (BTC) skyrocketed by about 6%, leaving the $110,000 mark in the dust and soaring to a jaw-dropping $118,668. And get this, the token's up by a whopping 6.8%!

Just a day earlier on July 10, BTC blazed past $113,800, snagging its second all-time high in under 24 hours. It's like the crypto's on fire, fueled by hardcore institutional cash and a market that's all about taking risks. Before that, BTC smashed through a major resistance zone at $111,250 after the market went full bull mode.

This wild rally's hitting the nail right on the head with Matrixport's predictions. They called it, saying BTC would blast off to $116k and beyond, riding the wave of historic patterns that screamed July would be a monster month for BTC.

"If history's anything to go by, Bitcoin's ready to shoot even higher—potentially hitting $116,000 in the coming weeks," said the on-chain analysis gurus in their report.

What's driving this insane rally? Expectations of Fed rate cuts, cash flooding into spot BTC ETFs, and some sweet regulatory tailwinds. Analysts are betting BTC might test the $120,000 mark before the month's out.

And don't forget the market's going nuts with equity highs and "risk-on" flows, plus those technical breakouts are just adding fuel to the fire. This sets the stage for BTC to challenge that $120,000 resistance zone and maybe even charge toward the $130,000 to $140,000 range. Buckle up, crypto fans, it's gonna be a wild ride!