The post Bitcoin hits record high above $120K; US June inflation data awaited appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) surged past $120,000 for the first time, hitting a new all-time high and up 28% year-to-date. The rally follows a 48-hour choppy period that reset short-term overbought indicators. Market focus now shifts to US June inflation data (CPI), expected to show a rise amid Trump’s trade war. Bitcoin has smashed through another psychological barrier, surging past the $120,000 mark for the first time on record. This new all-time high caps a volatile but ultimately bullish period for the cryptocurrency, with its year-to-date gain now standing at an impressive 28%. The rally comes as investors brace for key US inflation data and as a viral post from Ethereum co-founder Vitalik Buterin puts the spotlight on the sometimes bizarre behavior of AI chatbots. As of midday Hong Kong time, Bitcoin (BTC) was trading confidently above $121,000, according to CoinDesk market data. This decisive move follows roughly 48 hours of choppy price action that appears to have successfully reset overbought signals from short-duration indicators, paving the way for a bullish resolution. On Sunday alone, Bitcoin opened at $116,977.02, reached a high of $119,292.62, and was last seen trading around $118,979.45 – up 1.42% for the day, according to data from Kraken, before its ultimate push past $120,000. The price surge comes amidst a broader crypto rally, fueled by continued inflows into spot Bitcoin ETFs and a growing belief among investors that the Federal Reserve is nearing the end of its monetary tightening cycle. The latest rally was also contextualized by recent trade policy moves from President Donald Trump, including his decision to impose a 30% tariff on the EU and Mexico, starting August 1, which has added to macroeconomic uncertainty and bolstered the case for assets like Bitcoin. The market’s focus now shifts to crucial US inflation data due this week,…

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Filed under: News - @ July 14, 2025 4:24 am