Bitcoin just hit a fresh all-time high, crossing $120,000 for the first time. This new record is being driven by strong inflows into U.S.-listed spot bitcoin ETFs, which have seen a renewed wave of interest from both institutional and retail investors.
ETF Demand Pours In
As of Monday morning, Bitcoin was trading just above $120,000, gaining over 4 percent in 24 hours. The move caps off a sharp climb that began earlier this month when ETF inflows turned positive again. Just last Thursday, Bitcoin ETFs saw their largest day of inflows in 2025, at $1.18 billion. BlackRock’s iShares Bitcoin Trust saw some of the highest inflows, followed closely by Fidelity’s Wise Origin Bitcoin Fund. Combined, the two pulled in nearly $300 million on Friday alone.
$120k is nothing.
Exponential curves move faster in higher price bands. Bitcoin (log) has been on the same trendline since 2023. It's $200k by year-end, then $1m by 2028.
Don't paperhands this. There won't be a second chance in your lifetime – story of your generation. pic.twitter.com/obxGQoMNkl
— TechLead (@techleadhd) July 13, 2025
This is the second week in a row where spot bitcoin ETFs have seen significant inflows after a quiet June. Analysts say the return of strong demand from institutional buyers suggests growing confidence in bitcoin as a longer-term asset, especially in the face of rising global liquidity and interest rate uncertainty.
A Look at the Bigger Picture
Bitcoin’s climb to a new record comes just 90 days after the last halving event, a milestone that historically acts as a trigger for bull runs. Previous cycles have followed a similar pattern, with Bitcoin hitting new highs in the months that follow a halving due to a tighter supply dynamic and renewed attention from the broader market.
Another factor is the broader macroeconomic backdrop. Investors are increasingly betting that the Federal Reserve is done raising interest rates and may pivot toward cuts in the next six to nine months. Lower rates tend to benefit risk-on assets like bitcoin, particularly when paired with strong ETF demand.
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What This Means for Investors
The recent move has reignited discussion about where bitcoin could head next. Some bulls are pointing to $150,000 as the next big milestone, while others warn that the market may be getting ahead of itself. With bitcoin already up more than 50 percent year-to-date, there are growing calls for caution, especially if ETF inflows cool or macro conditions shift again.
Still, many believe the arrival of regulated, widely accessible investment vehicles like ETFs is fundamentally changing the way bitcoin is perceived. What was once seen as a volatile, fringe asset is now being included in more diversified portfolios and long-term strategies.
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Ethereum and Altcoins Follow
The rally isn’t just limited to Bitcoin. Ethereum has also climbed, crossing the $6,500 mark for the first time since early 2022. Other altcoins have joined the wave, with Solana, Avalanche, and Chainlink all posting double-digit gains over the past week.
However, the focus remains squarely on bitcoin for now. It is the asset at the heart of the ETF inflows and continues to act as a bellwether for the entire market.
What’s Next
If ETF demand holds and macro conditions stay supportive, bitcoin could push further into uncharted territory. For now, the $120,000 mark is more than just a number. It is a signal that the crypto market is stepping into a new phase, one that may be less about hype and more about real adoption through regulated channels.
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Key Takeaways
- Bitcoin set a new record above $120,000 as spot ETF inflows accelerated, pulling in fresh institutional and retail money.
- BlackRock’s iShares and Fidelity’s Wise Origin funds led the surge, adding nearly $300 million in a single day and logging two straight weeks of net inflows.
- The rally comes 90 days after the latest halving and arrives alongside growing expectations that the Fed will move from steady rates to eventual cuts.
- Analysts are split: some target $150,000 next, while others warn momentum could cool if ETF demand eases or macro conditions change.
- Ethereum, Solana, Avalanche, and Chainlink also climbed, but Bitcoin remains the main story as regulated ETFs pull it deeper into mainstream portfolios.
The post Bitcoin Breaks New Record, Blows Past $120,000 on ETF Momentum appeared first on 99Bitcoins.
