Bitcoin Hits All-Time High $122,838 as Vanguard Invests $85 Billion in Strategy Inc.

Bitcoin reached an all-time high of $122,838 early Monday, July 15th, during European trading hours. This new peak followed a strong upward trend that concluded the prior week on July 12th, with Bitcoin breaking past resistance levels near $109,000 to $111,872. The upward momentum continued into the new week, supported by increased buying in the immediate Bitcoin market. Data from Coinglass indicated that Bitcoin Open Interest reached $85 billion, setting a fresh record, while many short positions were closed.

Vanguard Group Inc., which manages approximately $10 trillion in assets, has historically expressed caution about Bitcoin, stating that it did not fit long-term investing and was "immature" with "no inherent value." However, recent U.S. Securities and Exchange Commission filings reveal a significant shift in Vanguard's stance. The firm now holds over 20 million shares of Strategy Inc., equating to almost 8% ownership. Strategy Inc. currently holds 601,550 Bitcoin, making Vanguard likely the company's biggest investor, surpassing Capital Group.

Analysts have noted that Bitcoin's current movement aligns with patterns observed in past rising markets. Technical indicators provide specific insights into this trend. The weekly Relative Strength Index moved above 70 this week, a level last crossed in 2024. The Moving Average Convergence Divergence (MACD) shows a positive histogram growing, with its MACD line staying above zero. Charts for shorter periods, such as two hours, reveal a series of higher peaks and higher valleys, a sequence frequently occurring during price increases. Given this technical structure, analysts view movement toward $150,000 as more likely in the near future than a drop under $100,000.

Bitcoin recently broke through the $118,000 resistance level, pushing toward a fresh psychological milestone at $120,000, which is now acting as the next pivot zone. A confirmed breakout and sustained close above this level could initiate a leg up toward $125,000 and ultimately $130,000. On the downside, short-term support is found at $116,000, with stronger consolidation expected near $112,000—a level that has served as a reliable demand zone throughout July.

The success of spot Bitcoin ETFs continues to draw institutional capital. In 2025 alone, over $120 billion in new ETF flows have entered BTC-based instruments, with several new funds launched in various regions. On-chain metrics reflect this institutional interest, as long-term holder supply is at an all-time high, and exchange outflows are accelerating.

Bitcoin is also being utilized in cross-border settlement infrastructure, particularly in regions where local currencies face volatility. The Bitcoin Lightning Network has grown to over 40,000 active nodes, processing microtransactions and remittance flows with fees near zero and instant settlement times. El Salvador’s government has successfully issued a $500 million Bitcoin-backed bond to fund infrastructure, with settlement fully processed in BTC via the Liquid Network. This marks the first sovereign Bitcoin bond settled entirely on-chain and is already trading on secondary crypto-native platforms.