Bitcoin News Today: Bitcoin Surpasses $120,000 for First Time Since Early July, Gains 2.21% in 24 Hours Amid Institutional Interest

Leading cryptocurrency Bitcoin (BTC) has surged past $120,000 for the first time since early July, marking a significant milestone in the crypto market. On July 22, 2025, the asset briefly reached $123,200—a level that exceeds its prior all-time high of $123,091 set on July 14. The price currently hovers near $120,000, reflecting a 2.21% gain over the past 24 hours and a 2.59% weekly increase. With a market capitalization of $2.38 trillion, Bitcoin continues to dominate the crypto landscape, driven by sustained institutional interest and relatively low selling pressure.

The recent rally has coincided with broader market optimism, as major altcoins like Ethereum (ETH) and XRP also recorded gains. ETH traded at $3,713, up 0.33% hourly, while XRP rose 0.14% to $3.56. However, the crypto market remains volatile, with $482 million in liquidations reported over the past 24 hours, including $344 million in long positions and $137 million in short positions. Bitcoin’s ability to hold above $119,000 despite periodic dips below $120,000 signals strong buyer interest, according to analysts.

Bitcoin’s 24-hour trading volume has surpassed $76.5 billion, with a circulating supply of 19.89 million BTC—approaching the theoretical maximum. The price is currently approximately 2.5% below its peak from July 14, 2025, raising questions about whether the asset can sustain momentum above $120,000. Analysts note that institutional adoption remains a key driver, with reports highlighting increased participation from large investors. Additionally, rising retail investor activity has been observed, as search interest in altcoins and trading strategies has spiked.

While some forecasts suggest Bitcoin could reach $130,000, these projections depend on favorable macroeconomic conditions and continued institutional investment. Conversely, others caution that profit-taking and selling pressure could push prices toward $115,000 if short-term volatility intensifies. The asset’s trajectory reflects its evolving role in global finance, having surged from approximately $13 in 2017 to its current level. However, market sensitivity to macroeconomic shifts and regulatory developments remains a critical factor for future price movements.

The latest surge underscores Bitcoin’s resilience amid a turbulent market environment. Its ability to navigate psychological thresholds—such as the $120,000 level—highlights sustained demand from both institutional and retail investors. As the crypto market consolidates its gains, market participants are closely monitoring whether Bitcoin can break decisively above $120,000 and maintain a bullish trend. For now, the data suggests a cautious optimism, though volatility remains an inherent risk.