Bitcoin Blasts Past $120K as Crypto Week Begins — What Comes Next?
$BTC is up nearly 20% from its June low, surging past $110K and touching a new high of $123K. Institutional appetite for #Bitcoin is at record levels. As Crypto Week unfolds, major U.S. legislation is on the table, potentially reshaping the future of digital assets. Meanwhile, concerns around USD debasement and America’s fiscal issues are adding more fuel to Bitcoin’s rally.
Other notable movers: ETH climbed 2.5% past $3,000, while XRP jumped 5% to $300. The entire crypto market cap gained 3.8% in the last 24 hours, reaching $3.81 trillion. The Fear and Greed Index now shows a Greed level of 70.
Despite Trump’s recent trade tariff warnings sparking risk-off sentiment in traditional markets, Bitcoin shrugged it off. Driving this bull move: soaring institutional inflows, corporate accumulation, regulatory optimism, and macroeconomic instability in the U.S.
Bitcoin ETFs pulled in $1.03 billion in net inflows Friday, adding to $1.18 billion on July 10 — the largest two-day surge ever. These ETFs now hold $158 billion in net assets, making up 6.43% of Bitcoin’s total market value — a massive show of institutional confidence.
Even with the current price hype, Google Trends shows Bitcoin retail search interest is still far below the peaks of 2020 and late 2024.
In Q2 alone, corporations injected $15 billion into Bitcoin treasuries, with 145 companies now holding BTC on their books.
The regulatory landscape is improving fast. This week, U.S. lawmakers will dive into the Genesis Act, Digital Assets Market Clarity Act, and Anti-CBDC Surveillance State Act. All eyes are on Congress as America positions itself to become the global crypto hub.
After pushing through the $110K resistance, $BTC hit $123K before slightly pulling back. The price is testing the 61.8% Fibonacci extension at 121K. A decisive close above it could lead to 128K (78.6% Fib), then 135K — with $150K emerging as the next psychological milestone.
