On July 7, the miner announced that it has recorded a rise of 18% in monthly Bitcoin production in June. Thanks to the firm successfully running the Phase 1 infrastructure at the new 100 megawatt (MW) facility in Yguazú, Paraguay, HIVE mined 164 Bitcoin in June. In contrast, the firm mined 139 Bitcoin in May.

Stellar Lumens (CRYPTO: XLM) is rocketing higher Friday afternoon, posting double-digit gains in a broad-based rally sparked by Bitcoin’s (CRYPTO: BTC) historic price movement.

The price of BTC has seemingly been capped at $110,000 for several weeks, with gains quickly reversing each time it approached that level.

Bitcoin’s rally to new highs was driven by long-term accumulators and spot inflows, suggesting that BTC’s next milestone price is in the $130,000 range.

The first test saw BTC rejected hard at $110,350, triggering a swift 10.8% drawdown over two weeks. Now, with 67% of Binance accounts skewed short, it appears late-positioned bears are betting on a similar outcome.

Bitcoin broke through its previous day’s record as investors continued piling into risk assets and liquidated short positions.

Research head of research Markus Thielen points out three factors that may push Bitcoin’s price to new highs by the end of July.

Bitcoin just hit $120,000 for the first time ever early Friday, before sliding slightly to around $117,297.10 by the afternoon.