Bitcoin once again staged a bullish attack today (14th), first surging past $121,000 and setting a new high, with the year-to-date increase expanding to 28%. With favorable U.S. legislation and institutional funding support, this wave of increase is not only fierce but also appears to be very robust. Analysts generally have high expectations for the future market, believing that Bitcoin is likely to continue to push towards $125,000 in the short term and even aim for $136,000 by the end of the year.
According to CoinGecko market data, Bitcoin rose 2.6% in the past 24 hours, reporting at $120,895 at the time of writing, and at one point surged to $121,000 on Binance and OKX platforms.
BTC Markets analyst Rachael Lucas pointed out, "Bitcoin has reached a new high again; this wave of increase is not a fleeting moment but is supported by substantial momentum."
She added that the daily net inflow of Bitcoin spot ETFs in the U.S. has exceeded $1 billion, with total assets rising to $150 billion, accounting for over 6% of Bitcoin's total market capitalization, showing that institutional confidence in Bitcoin is becoming increasingly firm.
Market enthusiasm continues to rise, coinciding with the upcoming "Crypto Week" in the U.S., where both houses of Congress will discuss multiple cryptocurrency regulatory bills, becoming another policy tailwind for Bitcoin's momentum.
Among them, two key bills are especially noteworthy: the first is the CLARITY Act, which seeks to clarify the regulatory responsibilities for cryptocurrencies and explicitly define the roles of the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC); the second is the GENIUS Act, which aims to establish a complete legal framework for stablecoins.
Short-term is expected to break through $125,000.
Rachael Lucas expects that if the trend of Bitcoin spot ETFs attracting investment continues, combined with a loosening economic environment and rising expectations for interest rate cuts, Bitcoin is likely to surge to the range of "$125,000 to $128,000" in the short term.
According to SoSoValue statistics, since April of this year, the net inflow of Bitcoin spot ETFs in the U.S. has reached $16.2 billion, injecting solid support into this round of market.
BTSE Chief Operating Officer Jeff Mei is also optimistic about Bitcoin's future performance, estimating that Bitcoin is likely to further rise to $125,000 within the next one to two months.
Although the Trump administration recently restarted its tariff offensive against the EU and Mexico, which may temporarily disrupt market sentiment, he believes that "institutional investors have clearly incorporated these geopolitical risks into their assessments and overall still choose to increase their positions in Bitcoin, with bulls holding on tight."
Challenge $136,000 by the end of the year.
Ledn CEO John Glover stated that Bitcoin's recent breakthrough to a new high indicates that the bull market is not yet at its peak, and it is even expected to reach as high as $136,000 before the end of the year.
John Glover explained to clients, "We have finally succeeded in breaking through the new high, confirming that the correction of the second wave testing $96,000 at the end of June has ended, officially launching a larger-scale fifth wave upward."
He further added, "Although the ultimate target is still set at $136,000, this breakthrough suggests that the timeline for achieving the target may be advanced; it was originally estimated to be in Q1 of 2026, but it is now likely to be reached before the end of this year."
Market focus is on the U.S. June inflation data.
However, the market's focus has quickly shifted to the upcoming U.S. June inflation index. According to FactSet data, economists expect the U.S. June Consumer Price Index (CPI) to increase by 0.25% month-on-month and 2.6% year-on-year; as for the core CPI, excluding food and energy volatility, it is estimated to increase by 0.3% month-on-month and 3% year-on-year.
If data shows that inflation still has upward pressure, it may affect the Federal Reserve's (Fed) delay in interest rate cuts, thereby impacting the trends of risk assets including Bitcoin, and short-term fluctuations are likely unavoidable. However, with the U.S. regulatory environment continuing to clarify, large enterprises actively embracing Bitcoin, and ETFs continually attracting investment, analysts generally believe that Bitcoin's retracement space is limited.
Bitcoin has soared and repeatedly broken new highs! Analysts: Retail investors are still asleep, and institutions are frantically抢ing ETFs, which is the real driving force.
"Bitcoin breaks through $121,000, soaring to a new record! How high can it rise this year? Analysts say this" was first published on (Block客).
