On July 11, Bitcoin broke through $116,500, once again setting a new historical high, with a rise of nearly 20% this year. This wave of increase is mainly driven by multiple positive factors: the Federal Reserve's interest rate cut expectations, the tax expenditure bill signed by Trump, and the easing of global tariff wars, which have intensified market demand for hedging assets like Bitcoin.
Bitcoin's breakthrough has prompted the market to focus on whether it can continue to rise, especially whether it can reach the psychological threshold of $200,000. According to Adam Guren, chief investment officer of Hunting Hill, Bitcoin's current rise reflects the compound effect of ETF capital inflows, increased institutional adoption, and favorable macroeconomic environments. Unlike previous cycles, current demand is structural, regulated, and sticky, which means Bitcoin's upward momentum may continue.
Moreover, the rise in M2 money supply and institutional capital inflows provide further room for Bitcoin's price increase. Analysts from CryptoQuant point out that most Bitcoin holders are currently in a profitable state, which provides support for the market. Although there is a risk of profit-taking in the short term, Bitcoin still maintains strong upward momentum.
So, will Bitcoin reach $200,000? Some experts believe that if the current market trend continues and M2 money supply continues to increase, we may see Bitcoin's price rise further by the end of the year, potentially reaching $150,000 to $200,000.
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