BTC briefly reached $110,000, rising 2.11% in 24 hours.

Gate News Bot news, July 3rd, according to CoinMarketCap data, as of the time of publication, BTC (Bitcoin) is currently priced at $109,900, rising 2.11% in the last 24 hours, with a highest of $110,000 and a lowest drop to $105,200, and a 24-hour volume of $54.396 billion. The current market capitalization is approximately $2.19 trillion, an increase of $45.18 billion compared to yesterday.

Bitcoin is an innovative payment network and a new type of currency. Bitcoin operates on a peer-to-peer technology, with no central authority or bank managing it; transaction management and the issuance of Bitcoin are conducted collectively by the network. Bitcoin is open-source; its design is public, and no one owns or controls Bitcoin, allowing anyone to participate. Through its many unique properties, Bitcoin enables exciting use cases that were not covered by any previous payment system.

Important news about BTC recently:

1️⃣ The amount of coins held by long-term holders has reached an all-time high Long-term holders of Bitcoin (those who have held for more than 155 days) currently hold a record 14.7 million BTC. This indicates strong market confidence, especially as most coins purchased when Bitcoin broke the $100,000 price level remain dormant.

2️⃣ Short-term holders realize a decrease in market capitalization, while the proportion of long-term holders rises On-chain data for Bitcoin shows that the market capitalization realized by short-term holders has dropped to about 45%, while that of long-term holders is rising. This change in holding structure usually signals a bullish reversal and could pave the way for a more sustainable upward trend.

3️⃣ Institutional capital inflow continues to increase The inflow of Bitcoin spot ETFs in the United States has surged, potentially reversing the previous outflow of $342.2 million. Major ETFs such as the Fidelity Wise Origin Bitcoin Fund and ARK 21Shares Bitcoin ETF have seen significant net inflows, reflecting an increasing interest from institutional investors in Bitcoin.

From a technical perspective, the price of Bitcoin has recently broken through the key resistance level of $109,000, but the implied volatility has fallen to its lowest level in nearly two years. This low volatility environment may suggest that the market is building up breakthrough momentum in preparation for a potential significant rise in the future.

This message is not intended as investment advice; investors should be aware of market volatility risks.