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![SchwabNetwork Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::872519322077470721.png) Schwab Network [@SchwabNetwork](/creator/twitter/SchwabNetwork) on x 74.5K followers
Created: 2025-07-11 13:27:42 UTC

Bitcoin $BTC continued its rally Friday morning, reaching $XXXXXXX for the first time.

Ethereum’s ether (ETH) jumped along with bitcoin and traded above $XXXXX – a level it hasn’t surpassed since February.

Other drivers of this surge include:

– The Federal Reserve determining rate cut policy: The Federal Reserve’s June meeting minutes were released on Wednesday, showing a divide among policymakers regarding when and if a rate cut will happen.

– Short liquidations: Bitcoin short liquidations surpassed $XXX million over the last 24-hours. Bitcoin shorts who didn’t anticipate the price jump often buy back the cryptocurrency to close their positions and limit their losses, which can push the price up further.


XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1943663489865613589/c:line.svg)

**Related Topics**
[cryptocurrency](/topic/cryptocurrency)
[fed rate](/topic/fed-rate)
[federal reserve](/topic/federal-reserve)
[$btc](/topic/$btc)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

[Post Link](https://x.com/SchwabNetwork/status/1943663489865613589)