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Bitcoin’s summer rally accelerated sharply, breaching $118,000 and wiping out $1.25 billion in short positions. Analysts debate whether this marks a breakout or a bull trap, with corporate treasury demand and macro factors fueling optimism.
- Corporate Bitcoin holdings hit a record 847,000 BTC in Q2, outpacing ETF inflows.
- Stablecoin legislation and Fed rate cut expectations are key macro drivers for Bitcoin's rally.
- Technicians warn Bitcoin must hold above $110,000 to avoid a failed breakout.
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