Bitcoin breaks through the historic high of 121,400 USD "Get Liquidated 370 million"; Tom Lee: will surge to 250,000 by the end of the year.

Bitcoin surged above the $121,400 mark on the morning of the 11th, with liquidations reaching as high as $60 million within an hour. Wall Street's Tom Lee predicts that this will continue to drive the price up to $250,000 by the end of the year. (Background: The crypto investment company Parataxis plans to go public via SPAC, creating an aggressive Bitcoin reserve company) (Supplementary Background: Bitcoin Reserve Companies: Why spend $2 to buy $1 of BTC?) Bitcoin (BTC) set another milestone on August 11 morning, with the current price of Bitcoin around $121,367, a daily increase of 3.8%, officially holding above the $120,000 integer level. This is the most impressive single-day closing price this year, boosting the sentiment of bullish funds to a peak. Wall Street Giants: Will Surge to $250,000 Due to the strong overall market data, Coinglass data shows that the amount liquidated within 24 hours reached $370 million, with $60 million liquidated in just one hour for Bitcoin; in response, Tom Lee, co-founder of Fundstrat and chairman of BitMine, expressed optimism that Bitcoin could reach $250,000 by 2025. Three Major Drivers Behind the $121,400 Level First, the regulatory environment is becoming clearer. The U.S. Congress has recently shown a friendly attitude toward crypto assets, opening green lights for multiple Bitcoin ETFs, reducing the barriers for large institutions to get on board. Second, institutional funds continue to increase their positions. Since the Halving in April, miner selling pressure has decreased, coupled with auto-invest from retirement funds and family offices, resulting in a more solid bullish structure. Third, the global macro environment remains relatively loose, with inflation and geopolitical risks driving up demand for safe havens, allowing Bitcoin and gold to benefit simultaneously. From a technical perspective, the monthly high of $115,800 set in July has now turned into support, and the market generally views $133,000 as the next level of resistance. In summary, this is the result of the resonance of regulation, capital, and supply. At the same time, rumors of liquidations, which are contrary to market trends, remind the market once again to verify information before trading, and not to be intimidated or lured by 'big numbers,' which is key to participating in this bull run. In the coming weeks, investors should continue to pay attention to the incremental ETF, changes in miner holdings, and the potential impact of inflation data on capital, continuously calibrating risk positions. Related Reports: US-China Tariff War Affects: Bitcoin mining company CleanSpark faces $185 million in tariffs due to imported BTC mining rigs. This girl challenges 'living on Bitcoin only for 21 days' on Women's Island in Mexico. Bitcoin's market share falls below 60%, creating a six-month low; is a new round of 'alt season' coming? <Bitcoin Breaks Through $121,400 Historical High 'Liquidations of $370 million'; Tom Lee: Will Surge to $250,000 by Year-End> This article was first published in BlockTempo, the most influential blockchain news media.