Bitcoin Price Surges Past $118K Despite Regulatory Headwinds as Institutional Demand Remains Strong
The post Bitcoin Price Surges Past $118K Despite Regulatory Headwinds as Institutional Demand Remains Strong appeared on BitcoinEthereumNews.com.
Joerg Hiller
Jul 20, 2025 18:22
BTC price holds above $118,000 with bullish momentum intact despite Trump’s GENIUS Act signing. Technical indicators suggest continued upside potential.
Quick Take • BTC currently trading at $118,139.68 (+0.19% in 24h) • Bitcoin’s RSI at 65.86 shows room for further upside before overbought conditions • Mixed sentiment as regulatory restrictions offset strong institutional adoption momentum What’s Driving Bitcoin Price Today? The BTC price faces a tug-of-war between regulatory concerns and institutional enthusiasm following President Trump’s signing of the GENIUS Act on July 19, which prohibits yield-bearing stablecoins. This regulatory move initially pressured Bitcoin lower by 0.70%, as investors worry about broader crypto restrictions. However, Bitcoin’s resilience above $118,000 reflects the market’s focus on earlier positive catalysts. The record-breaking surge to $120,000 on July 14 was driven by pro-cryptocurrency legislation advancing through Congress and unprecedented institutional demand. Bitcoin Standard Treasury Company’s announcement to go public via a Cantor Fitzgerald-backed SPAC merger, along with their holdings of over 30,000 bitcoins, reinforces the institutional narrative. Grayscale’s confidential SEC filing for a potential public listing adds another layer of institutional legitimacy. Managing over $33 billion in crypto assets, Grayscale’s move signals growing acceptance of cryptocurrency investment vehicles in traditional markets. Bitcoin Technical Analysis: Bullish Signals Dominate Despite Short-Term Volatility Bitcoin technical analysis reveals a predominantly bullish setup across multiple timeframes. The BTC RSI reading of 65.86 positions Bitcoin in neutral territory with room to climb before reaching overbought levels above 70. This suggests the current rally has legs to continue. Bitcoin’s MACD histogram shows a positive 176.0091 reading, indicating bullish momentum remains intact. The MACD line at 3,142.69 trading above its signal line at 2,966.68 confirms the uptrend’s strength. Moving averages paint an increasingly bullish picture for the BTC price.…
Filed under: News - @ July 20, 2025 6:24 pm