Bitcoin is rising fast and is close to its record high. Big money from ETFs and companies is driving demand. New policies make it easier for retirement accounts to invest in crypto. Experts say it could reach $125K soon. While other coins like Ethereum and Solana also grow, Bitcoin remains the most important and trusted digital asset.
Bitcoin is trading at about $121,100, near its record high of $123,166, up 1.43% in one day. Its chart shows a strong upward trend with higher lows and a recent breakout. The 100-day and 200-day moving averages just crossed to the upside, supporting continued growth.
U.S. July CPI rose 2.7% YoY, slightly below expectations. This triggered markets to price in a 96% chance of a 25bps Fed rate cut in September, and a rising chance of 50bps. Bitcoin’s Relative Strength Index (RSI) is at 63, showing bullish but not overbought conditions, as reported by TradingNews.
U.S.-listed Bitcoin ETFs saw $1 billion net inflows in just five days, with BlackRock’s IBIT adding most, taking its total assets to $58.07 billion. Total ETF exposure now exceeds $153 billion, according to CoinGlass. Capriole Investments reports this week’s institutional demand is 600% higher than new BTC supply. Corporate wallets added nearly 3,000 BTC in two days.
Norway’s NBIM holds 7,161 BTC indirectly through equities in BTC-heavy companies, as per K33 Research. U.S. President Donald Trump signed an order allowing 401(k) retirement accounts to invest in alternatives like crypto, opening $9 trillion of retirement capital to Bitcoin, as stated byTradingNews.
Trump criticized Fed Chair Jerome Powell and urged rate cuts. Treasury Secretary Scott Bessent suggested a 50bps cut, increasing dovish expectations and supporting Bitcoin demand. A new project, HYPER, builds a Layer-2 solution on Bitcoin for faster transactions. Its presale raised $9 million, targeting DeFi, tokenized assets, and payments.
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Bitcoin faces resistance at $123,000. A close above could push it to $125,000 or $137,000. If it fails, support is around $116,000 near the 100-day MA. The MACD shows bullish signals, RSI stays above 50, and the rally is driven by real demand, not leveraged bets, as mentioned by TradingNews.
Ethereum (ETH) is at $4,693 (+8.18%), Solana (SOL) at $201 (+12%), and XRP at $3.28 (+2.88%). Still, Bitcoin dominates macro trends. Year-to-date, Bitcoin is up 28%, similar to Gold. But Bitcoin is now seen as a modern monetary hedge rather than just a risky asset, as per reports.
Companies like GameStop, MicroStrategy, and ETHZilla are buying BTC and ETH for treasury reserves. ETHZilla holds $350M ETH and $240M cash, boosting its stock by 432% this week. BTC-USD is a buy with caution near $123K.
Targets: $125K first, $137K extended. Risk is moderate. Close below $116K cancels short-term bullish view. Bitcoin continues as the strongest asset in a market driven by liquidity, rate cycles, and scarcity. Upward momentum remains unless Fed action or demand changes, as per TradingNews.
Q1. Why is Bitcoin price rising so fast now?
Bitcoin is rising due to strong ETF inflows, high institutional demand, supportive Fed rate cut expectations, and new policies allowing retirement accounts to invest in crypto.
Q2. What is the next target price for Bitcoin?
Bitcoin could reach $125,000 first, with an extended target of $137,000 if it breaks the $123,000 resistance level.
