Bitcoin News Today: Bitcoin Predicted to Surpass $125,000 This Month Amid US Legislative Support

Bettors on the decentralized prediction market Polymarket are overwhelmingly predicting that Bitcoin will surpass the $125,000 mark this month. According to a recent poll, 34% of participants believe that Bitcoin will cross this threshold by the end of July. This prediction comes at a time when the cryptocurrency market is experiencing significant legislative developments in the United States.

In contrast, only 11% of the bettors predict that Bitcoin will rally above $130,000 this month. The optimism is tempered by a smaller percentage of bettors who believe in even higher valuations, with just 3% predicting Bitcoin will cross the $140,000 mark and 1% predicting it will reach $150,000.

This bullish sentiment on Polymarket coincides with recent legislative actions in the United States. Just one week prior, Bitcoin reached an all-time high of over $123,000, coinciding with the signing of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act by U.S. President Donald Trump. This legislation is part of a broader push by the Republican Party to strengthen American crypto innovation, dubbed 'Crypto Week.'

The signing of the GENIUS Act, along with the CLARITY Act and the Anti-CBDC Act, marks a significant validation for the crypto community, which has long been advocating for regulatory clarity and support. President Trump's endorsement of these measures has bolstered the confidence of many in the industry, including those participating in the Polymarket poll.

Adding to the bullish sentiment, Trump Media and Technology Group Corp, the parent organization of Truth Social, announced on July 21 that the company had amassed over $2 billion in Bitcoin purchases for its Treasury. This move is seen as a strategic decision to ensure financial freedom and protect against potential discrimination by financial institutions. The company's CEO and President, Devin Nunes, highlighted the synergies this will create with the utility token planned for the Truth Social ecosystem.

As of Monday afternoon, Bitcoin is trading around $116,000, reflecting the market's anticipation of further gains. The combination of legislative support and significant institutional investments is likely to continue driving the price of Bitcoin higher, aligning with the predictions of Polymarket bettors. The upcoming weeks will be crucial in determining whether these optimistic forecasts materialize, as the market responds to both regulatory developments and strategic investments by major players.