Bitcoin News

Bitcoin price has hit a new record high price of $123,236 on Monday, not only breaking through the $120k psychological barrier, but also decisively flipped it into a support level. The uptick is driven by "Crypto Week" phenomenon, whereby the US House of Representatives is set to debate two key bills-the GENIUS Act and Clarity Act. In addition, the House will discuss proposals limiting Central Bank Digital Currency (CBDC) surveillance. President Donald Trump's second term in office has been a watershed moment for Bitcoin and other cryptocurrencies, and this week could take the momentum into a higher gear. The laws aim to bring clearer regulation, authorise the private issuance of digital US dollars, and provide a mechanism for the legal protection of stablecoins. The ETF market has been on a hot streak, underlining strong institutional inclination towards Bitcoin. The last two trading sessions saw spot Bitcoin ETF net inflows record more than $1 billion, the two highest daily net inflows on record. Bitcoin's trading volume rose by 154% in the last 24 hours. Such an uptick in trading volume amid a price rise signals rising investor appetite for the coin, which will likely keep BTC price on the upside. Institutional FOMO has publicly traded corporations, retirement funds, and sovereign wealth funds angling to have Bitcoin in their treasuries, and the current sentiment will likely trigger a continuation of that trend. Bitcoin Price Prediction Bitcoin price pivots at $120,770 and the momentum calls for an extended upside. The coin will likely meet the first resistance at $122,490. Breaking above that level will signal a stronger momentum that could break above that level and potentially test $123,525. Alternatively, breaking below $120,770 will signal the onset of downward momentum. In that case, initial support will likely be at $119,470. Breaking below that level will invalidate the upside narrative. Furthermore, an extended control by the sellers could send the action lower and test the second support at $118,180. Bitcoin has formally broken $120,000 for the first time ever and set an all-time record high as it points toward market optimism. BTC has increased over 9% over the past week, driven by a mix of institutional demand, bullish regulatory progress, and renewed retail demand. The action is more than mere speculative mania, but a broader viewpoint that Bitcoin can now be viewed as a mainstream financial asset and not an esoteric one. Why the boom, and more importantly, will it persist? Institutional Capital Reenters Aggressively. One of the principal drivers of the breakout is the seeming re-entry of institutional capital. Following a succession of weeks of cautious positioning, top asset managers such as BlackRock, Fidelity, and ARK Invest have notably increased exposure in Bitcoin spot ETFs. Volume traded in these funds has reached all-time highs, which signals institutional portfolios once more thinking about Bitcoin as a rightful hedge and growth opportunity. As observed by Glassnode, the count of addresses with 1,000 BTC and more has increased to its all-time high since 2021, backing the theory that whales and institutional custodians are surely on their way in. Others consider that this phase is where institutional FOMO begins—a point where late entries of institutions shift to occupy a position before prices get too excessive. U.S. House Passes Historic Crypto Legislation. Supporting the legitimacy of Bitcoin's rise is the recent U.S. House of Representatives passage of a historic digital assets bill. The bill, entitled the Financial Innovation and Technology for the 21st Century Act (FIT21), aims to clarify jurisdiction between the SEC and the CFTC, giving the latter greater jurisdiction over digital commodities like Bitcoin and Ethereum. This legislative move is being welcomed as a major move toward regulatory clarity. Crypto attorney Jake Chervinsky called it "the most constructive U.S. crypto bill we've seen in years." The potential for a more transparent legal landscape has lured institutional participants back in after years of waiting on the sidelines out of fear of regulatory uncertainty. While the bill is still waiting for Senate ratification, early impetus is being considered a policy shift that could legalize crypto assets federally and lead to broader adoption. Technical Picture: Resistance Broken, Target $135KTechnically, the above-$120,000 move of Bitcoin is a very bullish confirmation. The price broke a multi-month resistance level of $117,800 and now has the psychological and chart-level of $135,000 in its sights, which also happens to be Fibonacci extensions and previous projection zones of the 2021 bull cycle. Technical indicators, however, are warning otherwise. The Relative Strength Index (RSI) on the daily chart is just about 74, pointing towards being overbought. The MACD histogram shows bullish momentum, but a diminishing slope may indicate lessening upward pressure. The volume has not risen proportionally with the price, which may lead to short-term volatility or retracement. Supports are seen around $112,000–$115,000. A retracement to this zone may give a healthy consolidation before the further uptrend. Retail Sentiment: Fuel or Fragility Other than institutional buying, retail demand has also returned. Google Trends shows a steep rise in searches such as "Is it too late to invest in Bitcoin?" and "Bitcoin price prediction 2025". Social media platforms such as X (formerly Twitter) and Reddit are once again abuzz with speculation. On-chain data also testifies to increased transaction volume from smaller accounts, marking the return of sleeping retail participants. While this works to fuel short-term momentum, with it comes risk: previously, retail-driven bulges have been followed by emotional buying, and therefore more precipitous corrections on turning sentiment. Where institutional demand is steady, retail frenzy is frail. Macro Tailwinds and the Inflation Hedge Narrative. The current macroeconomic environment may be another underappreciated reason behind the rally in Bitcoin. While inflation in the U.S. is rising and the Fed has signaled that interest rate cuts may begin later this year, Bitcoin is once more being positioned as a hedge against fiat depreciation. Gold, which traditionally has served as the first hedge against inflation, has largely remained flat compared to Bitcoin. Some believe that younger generations now consider Bitcoin "digital gold" and that the asset's supply limitation further supports this idea. As fiat issues across the globe continue to rise—most notably in the form of high sovereign debt levels in the U.S., Japan, and in some regions of Europe—Bitcoin's attraction as a supply-constrained, decentralized asset is attractive to portfolio managers ever more so. Conclusion: Sustained Breakout or Overheated Rally? Bitcoin's breakout above $120,000 is supported by an unprecedented association of institutional buying, regulatory clarity, technical breakout, and macro tailwinds. However, overbought indications and euphoric retail sentiment suggest caution is warranted. The coming few weeks will be crucial. Continued institutional buying, continued legislative progress, and solid consolidation would signal the beginning of a new long-term bull trend. On the contrary, failure of follow-through volume or surprise macro shocks would initiate a retracement. Either way, Bitcoin is no longer on the periphery. It's becoming a mainstream participant in the global financial conversation—and that breakthrough is evidence that the market is finally treating it as one.

Bitcoin

Bitcoin Breaches $120K, Institutional FOMO Takes and House Debate Propel Gains

Bitcoin Hits New Highs, Momentum Brings $120K Within Arm’s Reach

Bitcoin Breaks New Record at $111K, What’s Fueling the $120K Price Target?

PI Price Prediction Today: Downtrend Deepens as Token Unlock Looms Large

Cardano Price Today: ADA Jumps 6.6% as Market Cap Reclaims $21 Billion

Top 3 Crypto Price Predictions Today: Bitcoin Reclaims $107K, ETH Rangebound, XRP Builds Momentum

Bitcoin Price Prediction: Failure to Retest $108k Triggers Profit Booking, But Upside Traction Remains

Top 3 Crypto Price Predictions Today: BTC, ETH, XRP Rally After Israel-Iran Ceasefire

Bitcoin Price Back Above $106K, As Whale Transactions Swell Up

Top 3 Crypto Price Predictions Today: Will Powell Speech Break the Stalemate?

Why Bitcoin’s Engine of Growth Will Always Be Digital Rather Than Physical

MicroStrategy Share Price Flat as Saylor Backs Pakistan’s $5B Bitcoin Reserve Strategy

Subscribe to our newsletter