Bitcoin Surges 3.8% to New All-Time High of $122,600 Driven by Institutional ETF Inflows

Bitcoin has reached a new all-time high, closing at $122,600 with a 3.8% increase within 24 hours. This surge is driven by significant institutional ETF inflows and substantial buying activity from large investors, commonly referred to as whales. As of the latest update, Bitcoin is trading at $122,415, reflecting a strong technical setup validated by recent price movements and market structure.

The intraday price range highlights key support at $117,784 and resistance near $122,838. These levels are crucial for short-term trading dynamics as volatility increases. The price structure aligns with an inverse head and shoulders formation on the daily chart, a pattern typically associated with trend reversals and higher price targets.

According to chart analysis, the inverse head and shoulders pattern, which began in late 2024 and extends into mid-2025, has seen a neckline breakout above the $105,000 level. This breakout suggests a potential target near $150,000 if the momentum continues. The right shoulder of the pattern completed in early July, coinciding with increased ETF inflows and coordinated buying pressure. The neckline zone, previously a resistance, now acts as a soft support, reinforcing the short-term trend.

The Fibonacci extension based on the neckline breakout projects additional resistance levels at $135,000 and $148,000. Traders and analysts are closely monitoring price behavior within these levels as volatility spreads out. The ongoing rally is closely linked to institutional ETF flows, which have intensified since the start of the week. These flows are often associated with large firms allocating capital through regulated Bitcoin instruments, contributing to long-term positive momentum.

Whale buying activity, combined with increased ETF inflows, has driven the recent price surge. The amount being traded weekly has also increased, indicating broader investor participation. This coincides with the July 14-18 window, which includes various crypto-related events that may further influence short-term sentiment and contribute to intraday volatility. Bitcoin’s consistent higher closes have added to its technical strength, and a strong close this week would reinforce the ongoing breakout and support further price extension above $130,000 in the near term.

Current price action shows Bitcoin moving tightly between $117,784 and $122,838. This defined range serves as a reference point for short-term traders, with the price sitting just below resistance while maintaining upward pressure. Breakouts above this band could push prices toward the $130,000 zone. The support level continues to hold during minor retracements, offering a potential floor for bullish continuation. Market participants are closely watching how price behaves in this range as broader participation remains elevated.