46% of traders believe Bitcoin will reach $120K in July, Polymarket

Bitcoin is trading above $116,000 (+4.3%) after breaking past $113,800 on Thursday, setting a new all-time high for the second day in a row. It’s now gained more than 108% over the past year, up from around $56,000 this time in 2024.

Institutional involvement remains the main driver. July has already seen net Bitcoin ETF inflows cross the $50 billion mark—a record pace. Corporations continue to add BTC to their balance sheets, and familiar names are still buying more.

Two things stand out: price action is breaking resistance, and big players are still buying, which has traders asking a familiar question: what happens next?

Over $1 Billion Liquidated in 24 Hours, Mostly From Short Sellers

More than $1 billion in leveraged positions, and over 200,000 orders were liquidated over the past 24 hours, according to CoinGlass.

As Bitcoin surged higher, overleveraged shorts began to unwind quickly, boosting the momentum of the price move. In the last 24 hours alone, over $950 million in leveraged short positions across all assets got wiped out, the largest daily short liquidation this year.

For more: Why Is The Crypto Market Up Today?

Corporate Bitcoin holdings keep growing

Institutional buying hasn’t slowed down. It’s been picking up. The total amount of BTC held by public companies has now topped 847,000 BTC, worth around $91 billion at current prices. 

In Q2 2025 alone, companies added over 159,000 BTC to their holdings, equivalent to roughly $17 billion. 

That’s a staggering amount by any measure and reflects how corporate conviction in Bitcoin isn’t just sticking around — it’s growing.

Crypto Week Is Coming

Beyond the strong capital flows, next week is shaping up to be a big one for crypto on the policy front. The House Financial Services Committee has officially dubbed July 14–18 as “Crypto Week,” following President Trump’s push to make the U.S. the global capital of crypto.

Several major bills are scheduled for review, including
– The CLARITY Act, aimed at crypto infrastructure
– The Anti-CBDC Surveillance Act, pushing back against state-controlled digital currencies
– The GENIUS Act, focused on regulating stablecoins

It’s rare to see this much legislative focus on crypto in such a short window, so all eyes will be on Washington next week.

Next week, the House will deliver on @POTUS‘ call to make the United States the crypto capital of the world. pic.twitter.com/T7lRm2Ux05

— Financial Services GOP (@FinancialCmte) July 10, 2025

What’s Next for Bitcoin?

A mix of technical breakouts, steady inflows from institutions, and supportive macro factors has put Bitcoin in a position where further upside looks possible, especially as it keeps testing and breaking past previous highs.

On Polymarket, the leading prediction market platform in crypto, traders are showing clear optimism: 46% believe Bitcoin will reach $120,000 sometime in July, and 10% are even betting on a move to $130,000 within the same month.

On Kalshi, bettors are predicting that Bitcoin could hit $145,000 by the end of the year. According to Kalshi, this forecast is based on prices from recent trades posted on the platform’s order board. Here are some of the top publicly listed companies holding Bitcoin in their treasuries, according to BitcoinTreasuries.net.

For more: Bitcoin Price Prediction: Can BTC Hit $190K in the Coming Months?