Bitcoin soared past the $121,000 mark for the first time ever on Monday, July 14, continuing its sharp uptrend this year. According to CoinMarketCap, Bitcoin was trading at $121,097.94 at the time of writing, up 2.75%, with its market capitalization at $2.41 trillion—making it the fifth-largest asset globally, surpassing Amazon, Alphabet, and silver.
Trading volume for Bitcoin also jumped 33.12% to $60.69 billion. Year-to-date (YTD), the cryptocurrency has gained 30%, and over 100% on a year-on-year (YoY) basis, said Pankaj Balani, CEO of Delta Exchange.
Ethereum, the second-largest cryptocurrency, rose 3.28% to $3,054.96 with a market cap of $368.77 billion. “Ethereum’s 5% rise to a five-month high highlights this is not just a Bitcoin-led rally,” noted Raj Karkara, COO of ZebPay. He added that the tandem movement of Bitcoin and Ethereum reflects broad market optimism and paves the way for deeper crypto integration in global finance.
Altcoins also joined the rally. XRP approached a key resistance at $3, while ADA, TRX, DOGE, and SOL registered significant gains. Algorand led the altcoin surge with a 33% increase, followed by Pudgy Penguins (25%) and Hedera (24%).
CoinSwitch reported notable movements in Stellar (XLM), Cosmos (ATOM), and NEAR, attributing market strength to steady ETF inflows and positive momentum around tokenisation. The U.S. “Crypto Week” in Congress—debating key bills like the Clarity Act and GENIUS Act—also lifted sentiment.
BuyUcoin CEO Shivam Thakral highlighted institutional interest, noting a record $1.23 billion inflow into crypto funds on July 11, with $1.03 billion through Bitcoin ETFs. Experts now see Bitcoin eyeing the $125,000 level, with support near $114,500.
However, caution remains. “The crypto fear and greed index is at 70, signaling potential overheating,” Thakral warned.
Disclaimer: This article is for informational purposes only and not investment advice. Please consult certified financial experts before making investment decisions.
