Bitcoin Surges to Hit New All-Time High of $121,000 !

Market Context : The Institutionalization of the Bitcoin Rally

Bitcoin surged to $121,000 on Coinbase on July 14, buoyed by the massive capital inflow into BlackRock’s Bitcoin spot ETF. This fund, known as IBIT, now holds more than 700,000 BTC, exceeding MicroStrategy’s strategy by nearly 100,000 BTC.

This institutionalization of the BTC market has enabled IBIT to reach a record $83 billion in assets under management (AUM) in just 200 trading days, a growth rate 5 times faster than that of the renowned S&P 500 index fund (VOO).

Source: Checkonchain

Additionally, the NUPL index for long-term BTC holders remains below historical overheating levels, indicating that profit-taking is still limited. This suggests further price increases are on the horizon.

Healthy and Steady BTC Network Activity

Bitcoin analyst Axel Adler Jr. observed a gradual increase in Bitcoin network usage, with no signs of panic or mass selling. The average number of daily transactions has risen from 340,000 to 364,000 over the past two days.

Over the past two days, the daily average number of transactions in the network has increased by 24K from the 340K mark to 364K. The current level of 364K transactions still significantly lags behind the 2023-2024 peaks (530K-666K).

Essentially, holders are reacting calmly to… pic.twitter.com/v6rRxgH9lE
— Axel 💎🙌 Adler Jr (@AxelAdlerJr) July 11, 2025

At the same time, accumulator addresses, which regularly accumulate BTC without significant outflows, have increased substantially over the past month, reaching an annual record level of 250,000 BTC. This reflects renewed confidence among long-term investors.

With this new all-time high of $120,000, Bitcoin has demonstrated its ability to push boundaries, driven by powerful institutional dynamics and an ever-increasing appetite from long-term investors.

Technical and on-chain indicators suggest new peaks are coming, confirming the strength of the current rally. Cryptocurrency enthusiasts can expect the upward trend to continue in the coming months.

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Market Context : The Institutionalization of the Bitcoin Rally

Healthy and Steady BTC Network Activity

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