Catenaa, Monday, July 14, 2025- Bitcoin crossed the $120,000 mark for the first time late Sunday, driven by relentless institutional inflows and optimism ahead of key U.S. crypto legislation debates.
At 11:40 p.m. ET, bitcoin traded at $120,959 on Coinbase, pushing past its previous all-time high. The surge has been attributed to a combination of increasing inflows into spot bitcoin ETFs and the upcoming “Crypto Week” in the U.S. Congress, where lawmakers are set to debate legislation such as the CLARITY Act and GENIUS Act.
Rachael Lucas, a crypto analyst at BTC Markets, said the rally reflects deep institutional conviction, with more than $1 billion flowing into bitcoin ETFs daily. Assets under management across U.S.-based ETFs now exceed $150 billion, amounting to over 6% of bitcoin’s market capitalization.
The CLARITY Act seeks to delineate regulatory responsibilities between the SEC and CFTC, while the GENIUS Act targets the legal foundation for U.S. dollar-backed stablecoins. Market participants view these proposals as milestones toward clearer crypto regulation.
Jeff Mei, COO of BTSE exchange, said long-term institutional buyers are now eyeing $125,000 as the next price target. Despite potential geopolitical risks, including ongoing trade tensions under President Donald Trump, analysts remain confident in continued upward movement.
Analysts warn that delays in legislation or ETF approvals could slow momentum. But with U.S. rate cuts also on the horizon, the bullish sentiment remains intact.
