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.

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.

The company will use a combination of American depositary shares, warrants, and convertible debentures to raise the funds.

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.