Bitcoin soared to a new all-time high of $121,369.86 on July 14, gaining 2.93% in 24 hours. The rally was powered by aggressive corporate accumulation, surging ETF inflows, and strong technical indicators.
Japanese firm Metaplanet bought 797 BTC worth $93.6 million, adding to a broader trend of corporate balance sheet exposure to Bitcoin. This brings total corporate holdings to 16,352 BTC, valued at $1.64 billion. The move comes as MicroStrategy pauses its buying streak, leaving room for new institutional players to step in.
Meanwhile, U.S. spot Bitcoin ETFs attracted $2.7 billion in net inflows over the past week. BlackRock’s iShares Bitcoin Trust (IBIT) alone recorded $450 million on July 10, signaling robust institutional demand.
Technical breakout signals further upside
Bitcoin broke decisively above the $118,000 resistance level and now trades 2.4% above its 7-day simple moving average of $114,090. The MACD histogram rose to +1,135, confirming bullish momentum. With the RSI reading at 75.12, there’s still room for additional upside before overbought territory. Fibonacci targets place the next resistance around $125,206.
Macro support and policy spotlight
The rally coincides with U.S. “Crypto Week,” where lawmakers are reviewing regulatory frameworks, including the Genius Act and Anti-CBDC Surveillance Act. Bitcoin’s 102.38% year-to-date gain now far exceeds traditional asset classes, pushing total crypto market capitalization to $3.8 trillion.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/bitcoin-hits-new-all-time-high-above-121000/