- Bitcoin price surged 4.2% in 24 hours, entering price discovery mode amid robust institutional demand and bullish technicals.
- U.S. spot Bitcoin ETFs now manage over $153B in assets, absorbing 6% of BTC supply—led by BlackRock’s $83B IBIT fund.
- Upcoming U.S. House debate on the Crypto Market Structure bill fuels hopes of long-awaited legal clarity and institutional expansion.
- Analysts forecast a BTC trading range of $105K–$150K in Q3, with RSI and MACD indicating continued upward pressure.
Bitcoin price surged 4.2% over the past 24 hours to reach a new all-time high of $122,490, according to CoinMarketCap data. The upsurge was mainly driven by strong institutional demand, favorable regulatory signals, and bullish technical indicators. The milestone marks another leg in Bitcoin’s historic 2025 rally, placing it firmly in price discovery territory as market participants eye $130,000 as the next major resistance level.
ETF Demand Fuels the Breakout
The primary catalyst behind today’s rally is the continued inflow into U.S.-listed spot Bitcoin ETFs. According to data from Farside, these funds recorded $2.72 billion in net inflows last week alone. BlackRock’s iShares Bitcoin Trust (IBIT) now holds over $83.24 billion in assets under management, making it the fastest-growing ETF in history and one of the top 25 globally.
Collectively, spot Bitcoin ETFs have absorbed 6% of the circulating BTC supply and currently manage over $153 billion in assets. With daily Bitcoin issuance capped at 478 BTC as per MacroMicro, institutional demand is significantly outpacing new supply, creating persistent structural scarcity.
“This kind of demand-supply imbalance is not just short-term momentum — it’s a foundational shift,” said Chief Analyst at BlockFirms Research. “It signals that BTC may remain structurally undervalued even at $120K levels.”
Regulatory Clarity Spurs Confidence
Markets also appear to be pricing in growing optimism around U.S. crypto regulation. The House of Representatives is expected to debate the bipartisan Crypto Market Structure bill on July 14–15. The proposed legislation would grant the Commodity Futures Trading Commission (CFTC) oversight of digital commodities like Bitcoin and Ethereum, offering long-sought legal clarity.
Historically, legislative advances have led to Bitcoin price gains of 10–15% within 48 hours. The prospect of regulatory certainty is attracting sidelined institutional capital. Investors are betting on a more mature framework for crypto in the U.S., which could open the floodgates.
Technical Picture Remains Bullish
Bitcoin’s technical indicators also support the ongoing rally. The Relative Strength Index (RSI14) currently reads 75 — suggesting overbought conditions but not yet extreme — while the MACD histogram shows a bullish divergence with a reading of +1,135. BTC is now trading above all major Fibonacci retracement levels in the $114,455–$122,369 range.
The market is watching $130,000 as the next resistance level, with support near $108,500. Analysts expect a trading range of $105,000 to $150,000 through Q3, with average prices near $125,000 if bullish momentum holds.
Read Also: Think Bitcoin Is Too Volatile To Invest In? Think Again
Ethereum Tracks Bitcoin’s Momentum
Ethereum is also gaining strength, currently trading between $2,850 and $3,050 supported by continued ETF demand, the upcoming Pectra upgrade, and expanding DeFi activity. Ryan Lee, Chief Analyst at Bitget Research, said: “ETH is projected to average $3,800 in Q3, with upside potential toward $5,000 if it can clear the $3,700 resistance.”
Galaxy Digital has also maintained a long-term bullish outlook, forecasting Ethereum could surpass $5,500 by the end of 2025, driven by regulatory clarity and growing institutional participation in DeFi.
ETH fundamentals remain strong with 34.6 million ETH staked and rising DeFi activity. However, competitive pressure from Layer 1s like Solana and macroeconomic uncertainty could drive short-term volatility, potentially dragging ETH back to $2,700.
Where Does Bitcoin Go From Here?
With structural ETF demand, a supportive regulatory backdrop, and strong technicals, Bitcoin is likely to register more gains. However, traders should remain cautious as volatility could return quickly on the back of macroeconomic shocks or legislative delays.
Analysts at BlockFirms Research projects that Bitcoin could hit $150,000 by year-end under a scenario of persistent ETF inflows and favorable U.S. policy action — a target that now seems increasingly realistic.
Read Also: Bitcoin: How it Works, Benefits, Drawbacks and Future Outlook
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
