Bitcoin Reaches New All-Time High of US$119,200

Bitcoin reached a new all-time high of US$119,200 per coin after jumping 1.32% in the last 24 hours, Sunday ( 13/07). The main catalyst for this price surge came from Michael Saylor's social media post on July 13, which shared a chart of Bitcoin accumulation by his company, Strategy.
The upload has reignited speculation about a large purchase in the near future by the public company that owns the largest BTC.
After a 12-week accumulation pause, MicroStrategy stock (MSTR) surged 8%, a pattern that has historically often signaled the beginning of a rise in Bitcoin prices.
Not only that, there are also reports of an alleged purchase of BTC worth US$554 million by several treasury companies, although it has not been confirmed. Exchange-traded funds (ETF) spot Bitcoin recorded an inflow of US$1.18 billion in the past week.
The BTC reserves on exchanges have also reached a 10-year low, with only 1.25% of the total supply remaining, indicating an increasing tendency for investors to store BTC in personal wallets and reduce selling pressure in the open market.