Bitcoin price reaches around 122,400 USD, gaining more than 15,000 USD since early July
The “Crypto Week” in the US begins with bills on stablecoins, CBDCs and regulatory clarity
Bitcoin market capitalization surpasses around 2.4 trillion USD, exceeding Amazon amid dollar weakness
Bitcoin price surpassed 122,000 USD in early Asian trading on July 14, reaching around 122,400 USD
The sharp upward move extended the current Bitcoin rally, raising market questions about a possible run to 150,000 USD
The rise comes before the designated “Crypto Week” in the US, which could bring major legislative updates
It also follows increased attention to fiscal policy, weakening of the dollar and macroeconomic instability
As a result, Bitcoin has gained more than 15,000 USD since early July, continuing its pronounced rise with no signs of retreat
New Bitcoin all-time high and market drivers
Bitcoin reached around 122,400 USD on July 14, gaining nearly 4 percent in 24 hours
This milestone followed a previous record of around 118,000 USD on July 11, which started a breakout in price discovery
Momentum has carried into the new trading week, with traders noting stronger volumes and tighter spreads
CryptoQuant and TradingView show continued inflows into spot exchanges and ETF markets
The price rise also occurs alongside a strong drop in the US Dollar Index, down around 11 percent in the last six months
Analysts noted early July and April as key divergence points between Bitcoin performance and the Dollar Index
The July date coincides with approval of a major fiscal stimulus package
Crypto Week begins and legislators review key bills
The US House of Representatives scheduled July 14 to 18 as “Crypto Week”
Lawmakers are reviewing three key proposals for stablecoin regulation, crypto framework, and anti-CBDC oversight
These updates are expected to bring regulatory clarity to the crypto sector
Analysts expect this week to influence digital asset markets, with possible announcements regarding strategic Bitcoin reserves
Macro trends support Bitcoin bullish path
US budget deficit in May was around 316 billion USD, the third largest monthly deficit ever recorded
Despite prior resistance, Congress approved the spending plan in early July
This political context seems to have pushed Bitcoin higher, along with gold and other real assets
Rising bond yields and gold prices add to the view that investors are repositioning away from traditional currencies
On-chain data shows increased long positions and reduced selling pressure from large wallets
Bitcoin market capitalization has reached around 2.4 trillion USD, exceeding Amazon’s valuation
Bitcoin price market outlook: 150,000 USD in sight?
The continued strength of Bitcoin raises the question of how far this rally can go
Growing fiscal deficits, legislative attention and currency weakness have fueled the current price breakout
Analysts point out that Bitcoin is now larger than Amazon, marking a historical comparison
The rally has more room to move upward
Market participants are watching 125,000 USD as the next key level
If Bitcoin remains above 120,000 USD, analysts expect further moves to 135,000 USD and 150,000 USD based on trend extension models
The coming days during Crypto Week may help determine if the current momentum is sustainable or if a correction will occur after such rapid gains
Disclaimer
The contents of this page are for general informational purposes and do not constitute financial or investment advice
Investing in or trading crypto assets carries the risk of financial loss
Forecasted data is subject to change and not guaranteed to be accurate
