Bitcoin News Today: Bitcoin Nears $120K as Institutional Demand and U.S.-EU Tariff Deal Drive Rally to New ATH

The cryptocurrency market experienced a bearish trend last week, with over $200 billion in value erased, but conditions improved over the weekend as Bitcoin (BTC) and major cryptocurrencies turned positive. Analysts and market movements suggest BTC is poised to test key resistance levels, potentially leading to a new all-time high (ATH) if momentum persists. Institutional demand and macroeconomic developments, including a tariff agreement between the U.S. and the EU, have contributed to renewed bullish sentiment.

Bitcoin’s price approached $119,000 at press time, nearing the critical $120,000 consolidation boundary. A daily close above this level could trigger a rally toward the previous ATH of $123,000, with further gains potentially pushing BTC to $125,000 or higher. Technical indicators reinforce this outlook: the 4-hour RSI stands at 53, signaling buyer control, while the MACD crossed into positive territory, suggesting a bullish bias [1]. However, a failure to surpass $120,000 could result in a pullback to $115,000 or the 50-day EMA at $112,350.

Institutional activity underscores growing confidence. Japanese firm Metaplanet recently added 780 BTC to its holdings at an average price of $118,622, bringing its total BTC stash to 17,132 coins valued at $2 billion. The company’s CEO noted its average purchase price now stands at $101,030, reflecting a strategic, long-term approach to accumulation [1]. Meanwhile, Nassar Al Achkar, Chief Strategy Officer at CoinW, highlighted increased institutional adoption and stable fund transfers from old wallets to exchanges, indicating resilience despite short-term volatility [1].

Macroeconomic factors also play a role. President Donald Trump’s announcement of a scaled-back EU tariff deal reduced trade uncertainties, boosting investor confidence and contributing to Bitcoin’s 1% gain to $119,000. This development aligns with broader market optimism, as institutions continue to integrate Bitcoin into reserve strategies amid fluctuating equity markets [1].

The path forward hinges on Bitcoin’s ability to maintain above $120,000. If successful, the cryptocurrency could extend its rally toward historic levels, driven by sustained institutional demand and favorable macroeconomic conditions. However, caution remains warranted, as technical and fundamental indicators suggest volatility could persist in the near term.

Source: [1] [BTC could hit a new ATH if it holds above $120K: check forecast] [https://invezz.com/news/2025/07/28/btc-could-hit-a-new-ath-if-it-holds-above-120k-check-forecast/]