Bitcoin Price Hits a New ATH of $122,540, Rally To $150K Imminent?

Key Insights:

• Bitcoin price hits $122,400, gaining over $15K since early July.
• U.S. “Crypto Week” begins with bills on stablecoins, CBDCs, and clarity.
• Bitcoin’s market cap tops $2.4T, surpassing Amazon amid dollar decline.

Bitcoin price surged past $122,000 in early Asia trading on July 14, marking a fresh all-time high. The digital asset crossed $122,400.

The sharp upward move extended Bitcoin’s ongoing rally, raising market questions about a possible run toward $150,000.

The surge comes ahead of the United States’ designated “Crypto Week,” which could bring major legislative updates. It also follows increased attention on fiscal policy, weakening dollar performance, and macroeconomic instability.

As a result, Bitcoin has added over $15,000 since early July, continuing its steep climb with no signs of reversal.

Bitcoin New All-Time High and Market Drivers

Bitcoin reached $122,400 on Coinbase on July 14, gaining nearly 3.5% within 24 hours. This latest milestone followed a previous record of $118,000 on July 11, which initiated a breakout into price discovery.

The momentum has carried into the new trading week, with traders observing stronger volumes and tighter spreads.

CryptoQuant and TradingView show a continued inflow into spot exchanges and ETF markets.

According to market analyst Willy Woo, “Breaking new highs was liquidation driven. This is now flipping bullish.” He added that more price expansion may follow due to renewed investor activity.

The price rise also comes alongside a steep decline in the U.S. Dollar Index (DXY), which has fallen 11% over the past six months.

Analysts, including The Kobeissi Letter, pointed to July 1 and April 9 as key divergence points between Bitcoin and DXY performance. The July 1 date aligns with the passage of President Trump’s stimulus-heavy spending package, known as the “Big Beautiful Bill.”

Crypto Week Begins as Lawmakers Review Key Bills

The United States House of Representatives has scheduled July 14 to July 18 as “Crypto Week.”

Lawmakers are reviewing three key proposals: the GENIUS Act for stablecoin regulation, the CLARITY Act to establish a crypto framework, and the Anti-CBDC Surveillance State Act. These developments are expected to provide regulatory clarity for the crypto sector.

Analysts expect this week to influence digital asset markets, with possible announcements surrounding a strategic Bitcoin reserve.

Nick Forster, founder of Derive, noted in a recent investor note that the largest macro factor remains “Trump’s Big Beautiful Bill,” which points to a broader shift toward fiscal easing.

This bill has already coincided with a sharp increase in market liquidity, asset prices, and investor confidence. Bitcoin alone has added over $1 trillion in market capitalization in the last three months.

“It’s beyond clear,” The Kobeissi Letter wrote, adding that “Bitcoin has entered crisis mode” as a hedge against currency debasement.

Macroeconomic Trends Support Bitcoin’s Upward Path

May’s U.S. budget deficit of $316 billion was the third-largest monthly deficit ever recorded. Despite earlier resistance from business leaders, including Elon Musk, Congress approved the spending plan in early July.

This policy backdrop appears to have pushed Bitcoin higher, alongside gold and other real assets.

Robert Kiyosaki, author of Rich Dad Poor Dad, acknowledged Bitcoin’s move past $120,000. “Great news for those who already have some Bitcoin,” he wrote on X, warning that those who delayed entry “own nothing.” He added,

The upward trend in bond yields and gold prices adds to the view that investors are repositioning away from traditional currencies.

Meanwhile, on-chain data from CryptoQuant indicates a surge in long positions and reduced selling pressure from large wallets. Bitcoin’s market capitalization has now reached $2.4 trillion, surpassing Amazon’s valuation.

Bitcoin Price Market Outlook: $150K in Sight?

Bitcoin’s continued strength raises the question of how far this rally can go. The combination of rising fiscal deficits, legislative attention, and currency weakness has fueled the current price breakout.

Analysts like Joe Consorti noted that “Bitcoin is now larger than Amazon,” marking a historic comparison.

Willy Woo emphasized that the rally has more upside. “This rally has plenty more room to go,” he said in a post on Sunday. Anthony Pompliano added,

Market participants are now watching $125,000 as the next key level. If Bitcoin holds above $120,000, analysts expect further moves toward $135,000 and $150,000 based on trend extension models.

The next few days during Crypto Week may help answer whether the current momentum is sustainable or if a correction will follow after such rapid gains.