Bitcoin Shatters Records Above $115K as Asia Wakes to Calm Markets and Zero Sell Pressure
Asia’s crypto traders started their day with fireworks as Bitcoin surged past $115,000, marking a new all-time high and signaling the market’s confidence in the ongoing rally. What’s unusual? There’s still no sign of sell pressure, according to new on-chain data from CryptoQuant.
Low Exchange Inflows Signal Confidence
Unlike past bull runs, where rapid price increases triggered a wave of profit-taking, this cycle appears different. CryptoQuant’s latest report reveals that bitcoin holders are staying put.
“Selling pressure remains low despite the price reaching a fresh all-time high,” the firm wrote.
Exchange inflows have dropped to just 18,000 BTC per day, the lowest level since April 2015—a strong signal that investors aren’t rushing to cash out.
Even large holders—wallets moving 100+ BTC—are sitting tight. Since November 2024, BTC transactions in this category fell from 62,000 BTC per day to just 7,000 BTC.
Altcoins Reflect the Same Trend
- Ethereum (ETH): Inflows are down from 1.57M ETH in February to 584K ETH, even as ETH has soared 87% since April.
- XRP whales: Daily exchange inflows dropped 85%, from 1.1B to 169M XRP.
- Altcoins broadly: Retail activity is cooling. Daily altcoin inflow transactions fell to 21,000, compared to 120,000 during major 2024 market tops.
Conclusion from CryptoQuant: “It’s not a typical top. It’s a breakout with no rush to exit. It’s HODLing season.”
Bitcoin Overtakes Google in Market Cap
With BTC now trading above $115,000, it has overtaken Alphabet (Google) in market value, hitting $2.298 trillion in market cap. That makes Bitcoin the sixth most valuable asset globally.
Next in line: Amazon, valued at $2.359 trillion. BTC briefly surpassed Amazon earlier this year, and the latest surge may reclaim that spot for good.
ETF Inflows Drive Institutional Momentum
The rally is fueled by spot Bitcoin ETFs, which are seeing renewed demand:
- May: $5.23B net inflows
- June: $4.6B
- July so far: $1.18B
Cumulative ETF net inflows now exceed $50 billion, per SoSoValue, with total assets nearing $140 billion. Institutional adoption is now reshaping the market—not just influencing it.
Market Highlights
- Bitcoin (BTC): Surged past $116K, setting a new record. The rally triggered nearly $950M in short liquidations, the largest one-day wipeout of bearish bets in 2025 (CoinGlass).
- Ethereum (ETH): Climbed to nearly $3,000, its highest in four months, thanks to growing ETF flows and increased institutional demand.
- Gold: Pulled back 4% from its recent peak, trading near $3,295, but many analysts still forecast a rise to $4,000.
- Nikkei 225: Mixed session after President Trump announced new tariffs: 35% on Canada, with broader duties of 15–20% possibly on the way.
- S&P 500 & Nasdaq: U.S. markets closed at fresh highs. The S&P 500 reached 6,280.46, while Nasdaq logged its second consecutive record close.
Bottom Line:
Bitcoin’s breakout is being powered by long-term conviction, institutional flows, and macro tailwinds—not hype. With sell pressure at historic lows and capital still flowing into ETFs, this rally may have legs.
