Bitcoin Rally Shocks Markets with $121K Surge!
Bitcoin Hits Record $121,000, Fueled by US Crypto Momentum and ETF Inflows
Bitcoin Rally: Bitcoin smashed past the $121,000-mark for the first time ever on July 14, rising nearly 3% in a day. This marks a dramatic gain of over 103% in the last 12 months, doubling investor wealth within a year. As of 10 AM IST, Bitcoin was trading at $121,068 — equivalent to more than ₹1.04 lakh.
Other major cryptocurrencies joined the rally:
- Ethereum (ETH): Jumped over 3% to $3,046 (~₹2.62 lakh)
- Solana (SOL): Surged nearly 3.5% to $167 (~₹14,352)
What’s Powering the Current Crypto Rally?
The crypto market’s explosive growth is being driven by a series of catalysts:
1. US Congress Crypto Legislation:
This week, the US House of Representatives is set to debate two game-changing bills:
- The “Clarity Act” – Aims to provide a clear regulatory framework for the crypto industry.
- The “Genius Act” – Targets regulation of U.S. dollar-pegged stablecoins.
Both bills are receiving bipartisan support and are seen as steps toward legitimizing and stabilizing crypto markets in the US — a significant global signal.
2. Trump’s Pro-Crypto Stance:
Former President Donald Trump has branded himself as the “Crypto President.” He recently declared:
“I will make sure the US is the Crypto Capital of the World.”
His vocal support is fueling optimism among retail and institutional investors alike.
3. Massive ETF Inflows:
On July 11, institutional inflows into crypto funds hit $1.23 billion — with Bitcoin ETFs alone contributing $1.03 billion. According to Shivam Thakral, CEO of BuyUcoin, this institutional appetite is a major force behind the price surge.
Expert Insights: Greed, Caution, and Long-Term Signals
“The crypto fear and greed index is at 70, signaling an overheated market,” said Thakral.
Yet, analysts suggest the current surge is backed by long-term fundamentals, not just hype.
Devika Mittal, Regional Head at Ava Labs, noted:
“What’s remarkable is the U.S. shift from skepticism to actively nurturing the crypto industry. It’s no longer fringe — it’s central to economic strategy.”
She added that countries like Vietnam are beginning to mirror the US’s supportive stance, indicating a global trend.
Technical Outlook and Price Levels
Bitget’s Chief Analyst Ryan Lee shared the technical forecast:
- Support: $108,500
- Resistance: $130,000
- Range: $105,000 to $150,000
He warned that corrections are possible, especially if Bitcoin dips or regulatory tides turn. “ETH could pull back to $2,700 if sentiment shifts. But long-term, with 34.6 million ETH staked and rising institutional demand, the fundamentals remain strong.”
What’s Next for Investors?
While optimism is high, experts urge caution. Markets remain volatile, and investors should be ready for 10–30% price swings. Analysts recommend watching upcoming regulatory developments and ETF flows closely.
Disclaimer: Always consult a certified financial advisor before making investment decisions.
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