The revival of Bitcoin prices at the end of Business Week has escaped many short traders.
There were no major announcements that could have been linked to the explosive gathering, but there are several reasons that had been accumulating for weeks, which could be attributed to the new peak.
Overall accumulation
The following reasons may vary depending on the type of investor, the moment of purchase, etc., but can be summarised into one category of “overall accumulation.” As reported yesterday, the US spot Bitcoin ETF has attracted more than $2.7 billion in the last five days alone.
Plus, they have only seen one day in net spills since June 9th. Both of these factors can promote the price of assets north, especially if investors spend more than $2 billion to accumulate ETF shares for two consecutive days (July 10th and 11th).
Next, we list the accumulations by large companies. Certainly the strategy that didn't announce a purchase last week has spent billions of dollars in the past few months getting more BTC. Examples are now followed to a lesser extent by other companies that hold Bitcoin as a reserve asset, such as Metaplanet, GameStop and Semler Scientific.
These purchases may not immediately affect the price of the asset, but their continued efforts certainly play a role in reducing immediate sales pressure.
The accumulation trend has expanded far beyond institutions and large corporations. GlassNode recently reported that small investors classified as shrimp, crab and fish (wallets under 100 btc) exceed 19,000 BTC per month. In comparison, minors are issued at just 13,400 BTC per month.
See accumulation by wallet size: shrimp, crab, fish – wallets with sustained net absorption across a wide base of holders create a measurable supply side tightening. pic.twitter.com/ajut5hlpqv
– GlassNode (@GlassNode) July 12, 2025
The aforementioned purchases from different types of investors lead to the following reasons, as most of them transfer BTC holdings from exchanges: According to Cryptoquant, the amount of BTC stored on trading platforms has dropped to its lowest level in 10 years. This is another signal that investors are looking for in the long term.
Macroeconomic reasons
The above reasons give a clear picture of investors' accumulation. Now, let's talk about whether they will.
Trump has fired many countries and the entire union with new tariffs in the past few weeks, but including Saturday, there hasn't been a devastating impact on the BTC as much as it returned to April. At the time, Bitcoin prices fell to five months' lows, but now tariffs are considered to be beneficial in some way for cryptocurrencies.
As the QCP analyst said:
“Will Trump delay implementation again? We don't know yet? But the repeated cycle of tariff threats and postponements contributes to positive uncertainty. Business sentiment and manufacturing index remain firmly in the expanding realm.”
Destruction: President Trump will send more “customer letters” with the following tariff charges now being announced:
1. Brazil: 50%
2. Myanmar: 40%
3. Laos: 40%
4. Cambodia: 36%
5. Thailand: 36%
6. Bangladesh: 35%
7. Canada: 35%
8. Serbia: 35%
9. Indonesia: 32%
10. European Union: 30%
11….– The Kobeissi Letter (@kobeissiletter) July 12, 2025
In the meantime, we conclude our inference with a US dollar decline index. Experts have long predicted the massive parabolic movement of BTC when the greenback loses traction. This is because investors tend to jump into storage assets such as gold and Bitcoin during times of weak dollars.
Nikolai Sondergaard, Nansen's research analyst, customs cryptopotato He didn't believe the rally was driven by very little by macro events, but he attributes it to certain US policies.
“Recent US policy developments, including financial expansion and hopes for further financial easing, have created an undeniably favorable background for Bitcoin.”
Will BTC continue to increase rapidly?
The big question now is whether these reasons will continue to make cryptocurrencies higher. In a note cryptopotatoBitfinex analysts seemed optimistic.
“The structure remains intact unless the ETF influx collapses or the macros turn sharply. Bitcoin supports $111k-$114,000. As long as that applies, the trend is higher. The message is simple.
Nevertheless, they warned that “the rally will not rise in a straight line.” Analysts added that BTC could be paid for the correction first, as they have already begun to “see signs of temporary fatigue.”
Nansen's Sondergaard also focused on whether Bitcoin has the power to continue moving forward.
“Bitcoin has recently been able to break through major liquidation levels and hold them above them.
Technically, Bitcoin's daily RSI rose above 70. This is typical for strong momentum stages. It's not inherently bearish. RSI rises during price increases are normal. However, if prices continue to rise while RSI is beginning to branch or fade, it could be an early signal of momentum and potential for correction. ”
