According to Bloomberg, Bitcoin broke the $120,000 threshold for the first time on 15 July, with an increase of 3.4 per cent to $12,3205, leading to a general rise in the digital asset market, as well as a parallel rise in the second-largest currency in Taifung and many small coins. In contrast to the general fall in the European stock market, the encrypted currency is rising.
Since Donald Trump was re-elected President of the United States, the Bitcoin has fluctuated over the past few months around the $100,000 threshold. Market concerns about the political and economic policies of Trump have for some time discouraged optimism about his Government ‘ s support for an encrypted monetary agenda. Today, bitcoin is back on the rise as other risk assets, such as US share, return to historical heights. This week, the House of Representatives will debate and possibly vote on the CLARITY Bill, the Anti-Central Bank Digital Currency Control Bill and the Senate Bill on the GENIUS stabilization currency. The prospect of a clear regulatory framework in the United States, coupled with the steady rise of Bitcoin in the context of the chaotic Trump trade policy, has increased institutional investor confidence in the asset class. According to the XBTO Trading LLC Senior Trading Officer George Mandres: “This transformation marks the maturity of the market’s perception of bitcoin, which is no longer merely a speculative asset but a collection of macroshock tools and structurally scarce storage of value.”
The data show that investors made net inflows of more than $2.7 billion last week to the United States-based spot ETF (Exchange Trading Fund) group, a record fifth week of net inflows since their launch in January last year. Currently, 12 ETFs total management assets of $15.1 billion. According to Coinglass, Monday’s outstanding futures in bitcoin reached a record $86.3 billion. Bitcoin has so far increased by 31 per cent this year, and in 2024 it more than doubled. Bitcoin recapturing the upswing energy and spreading it to small coins. – The second-largest market value rose by 2.4 per cent in the day of the Ether Workshop, and on Mondays, coins such as Ribbon and Solana rose.
“bitcoin has exceeded $120,000, but the real test is at $125 million,” said BTC Markets encryption analyst Rachel Lucas. She added that, although there might be a profit ending in the short term, “the upward trend driven by strong demand in exchange-trade funds remains dynamic” and that “the support position of $1.12 million, and any reversals, appears more like buying opportunities than a reversal of the trend.” The flattened bets made last weekend also contributed to this round’s upturn. The Coinglass data show that traders who did nothing in bitcoin lost a great deal and that empty positions of over $1 billion were liquidated. However, not all analysts fully accept that the tokens will continue to rise. “In my view, this is not an increase driven by macro-factors, much more like an isolated event.” Nansen research analyst Nicolai Sondergaard states that “in spite of this, recent policy developments in the United States, such as fiscal expansion and expectations of further monetary easing, have undoubtedly created a favourable background for Bitcoin.”
