Bitcoin hits new all-time highs as it crosses past $120,000, fueled by ETF inflows
UNITED STATES, JUL 14 – Bitcoin's price rose over 28% this year driven by record $150 billion inflows into U.S. Bitcoin ETFs and advancing crypto legislation in Congress, signaling strong institutional demand.
- On Monday , Bitcoin extended its July rally by surpassing $120,000, supported by record ETF inflows and market momentum.
- Earlier this month, Washington declared the week of Jul 14 as “crypto week,” when U.S. Congress will vote on key crypto bills, with BlackRock’s IBIT ETF reaching $83 billion AUM on Thursday.
- Market metrics indicate sustained buying with record inflows and rising activity, including $2.7 billion weekly ETF inflows and daily Bitcoin transactions rising by 24,000 to 364,000.
- Market breadth broadened as Bitcoin’s surge drove altcoin rallies, James Butterfill said that political developments and signals from the Federal Reserve are fueling the momentum.
- With regulatory clarity on the horizon, projections point to new Bitcoin highs, as Nigel Green, CEO of deVere Group, forecasted a move to $140,000 then a pullback.
140 Articles
140 Articles
Bitcoin breaks $123,000 price record as lawmakers begin 'Crypto Week' in Washington
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