🐮 Truly Amazing
Bitcoin price has exceeded $120,000 for the first time, setting a new historical high!
On July 14, 2025, the price of Bitcoin first broke the $120,000 barrier, creating a new historical high. As of around 11:35 AM Beijing time on July 14, Bitcoin surged over $1,000 in just ten minutes, strongly breaking through the $120,000 level, and the upward trend continued, trading at $122,323.18 during the Asian session, up about 3.72% for the day. Bitcoin continued to rise, breaking through $123,000 during the day.
Reasons for the Rise
"Cryptocurrency Week" Driving Force: The U.S. Congress welcomed "Cryptocurrency Week" from July 14 to 18, planning to review three key pieces of cryptocurrency legislation, including the CLARITY Act, the Anti-Central Bank Digital Currency Regulatory National Act, and the GENIUS Act. This has boosted investor confidence in the prospects of cryptocurrencies.
Short Positions Covered: Last weekend, cryptocurrency short positions were covered. According to Coinglass data, traders shorting Bitcoin suffered heavy losses, with over $1 billion in positions being closed, which propelled the latest round of Bitcoin's rise.
Strong Institutional Demand: Institutional investors continue to buy Bitcoin, and ETF funds are also flowing in. Last week, investors injected over $2.7 billion into the U.S. Bitcoin Exchange-Traded Fund (ETF), marking the fifth largest weekly net inflow since its launch in January 2024. These ETFs currently manage a total of approximately $151 billion in assets.
Market Perception Shift: The market's view of Bitcoin has matured, no longer seeing it merely as a speculative asset but as a macro hedging tool and a means of storing value with structural scarcity. This shift in perception has attracted more investors, enhancing market stability and buying power.
Market Overview
• Bitcoin Price: $122,092.81, 24-hour increase +2.86%
• Market Cap surpasses $2.42 trillion, with a trading volume of $11.02 billion
• Created a historical high of $123,091, entering the "six-figure era"
Driving Factors
• Institutional Capital: BlackRock ETF management scale reaches $88 billion, Japan's Metaplanet holds 16,352 BTC
• Macroeconomic Environment: Global liquidity increases by $5 trillion, central bank interest rate cuts begin
• Technical Breakthrough: Breaks through the critical resistance level of $120,000, although RSI shows overbought, momentum continues
