Bitcoin Blasts Past $122K to Fresh ATH But Can the Momentum Hold?

• The Bitcoin price is supported by surging institutional demand, with 24-hour trading volumes jumping 158% to $110.1 billion, with strong inflows into spot Bitcoin ETFs.
• The rally coincides with “Crypto Week” in Washington, where the GENIUS and CLARITY Acts are under discussion.

Bitcoin price jumped to another all-time high level of $123,091.61 on Monday July 14, a 56% gain from its lows in April this year. The recent development has given Bitcoin a humongous market valuation of $2.42 trillion. Moreover, investor interest increased as the 24-hour trading volume jumped by 158.10% to arrive at record levels of $110.10 billion, as mentioned in our earlier report. 

Bitcoin Price Surges Past $123K

The new rally of the cryptocurrency is being directly connected to the increased interest of the financial giants, the interest in the spot BTC ETFs listed in the U.S. and the new wave of legislative impetus in Washington. Jeff Mei, the Chief Operating Officer of crypto exchange BTSE, says that the move is borne of long-horizon capital. “We’re seeing steady inflows from institutional allocators, and that kind of conviction could push Bitcoin toward the $125,000 mark in the near term,” Mei said.

The rally is unfolding against the backdrop of “Crypto Week” in the United States, a multi-day policy event that has placed digital assets at the center of Capitol Hill debates. The Congress is already considering the GENIUS and the CLARITY Acts, which are aimed at restructuring the legislative framework of cryptocurrencies and stablecoins.

Whilst, President Donald Trump has repeated his pro-crypto sentiments by supporting crypto-related infrastructure, including the crypto reserve program. To further the mood on the market, Trump Media & Technology Group filed an application seeking a multi-token exchange-traded fund with BTC in the spotlight.

The corporate world is also bullish towards Bitcoin. Metaplanet, a Japanese tech and hospitality company, purchased 797 BTC in May, taking the company treasury to 16,352 BTC. The action puts the company in the list of top five corporate BTC holders. Also, Strategy’s Michael Saylor has hinted at further Bitcoin purchases.

Some weeks you don’t just HODL. pic.twitter.com/PXC7cE3zbq

— Michael Saylor (@saylor) July 13, 2025

BTC Price Rally To Continue?

Retail participation has also spiked nearly specifically on the platforms such as Reddit and Stocktwits, with the quantity of discussion regarding Bitcoin reaching unprecedented elevation. Options and futures open interest is getting intense, as the strike prices are accumulating around 120K, 140K and 150K, which shows that the traders are betting on further upside. As per the Power Law Model, the BTC price could also target $300K by Christmas 2025, as reported by CNF last week. 

Technically, Bitcoin has already surpassed its former resistance point close to $112.000, which was formed in May. Traders are witnessing the development of new support platforms and these might be the trigger that will propel the advancement of exploration of further price-related activities.

The projected numbers according to the Fibonacci based models are at $136,000 and $160,000. Although a temporary setback is possible, the investors argue that the overall trend will not be compromised. Even if the BTC price crashes to the level of $100,000-110,000, the general pattern is preserved, they say.

Structurally, the only weak point that analysts can foresee is a decisive break and move below the figure of $100,000 and 200-day EMA around $97,000. Until such a breakdown, price action seems to be going in the favor of bulls.