It seems nothing can stop the new bullish momentum of Bitcoin as the price surpassed the $121,000 mark to reach an all-time high (ATH) on July 14.
President Donald Trump praised the cryptocurrency rally as "over the top" after Bitcoin first surpassed the $112,000 mark on July 10. Since then, the king coin has continuously reached record highs for several days.
Launched in 2009, Bitcoin is the largest cryptocurrency in the world. Its market capitalization is $2.4 trillion and accounts for over 60% of the total cryptocurrency market capitalization.
The on-chain analysis platform Arkham Intelligence recently reported that Satoshi Nakamoto, the creator of Bitcoin, has become the 12th richest person in the world due to the amount of BTC they hold.
Satoshi Nakamoto's net worth has soared to over $132.6 billion at the time of writing.
According to the on-chain analysis platform Coinglass, $235 million in short positions have been liquidated in the cryptocurrency market in the past hour.
Needless to say, Bitcoin accounts for a large portion of these liquidations, as $205 million in short BTC positions were liquidated in the past hour.
Next Target Is $200,000
Jeff Park of Bitwise believes that buying Bitcoin treasury bonds and cash flow from exchange-traded funds (ETFs) have driven the recent surge in BTC prices.
“More than $15 billion, and that number is larger than the capital flow of Bitcoin ETFs in the first half of 2024,” Park said. “And one more thing I like about these Bitcoin fund management companies is that most of them will never sell Bitcoin.”
Park predicts that Bitcoin will reach a price of $200,000 by the end of 2025.
According to Kraken's price source, Bitcoin is trading at $121,209.01 at the time of writing.
Bitcoin peaked at $121,000, raising Satoshi Nakamoto's assets to $132 billion for the first time reported on TheStreet on July 14, 2025.