Bitcoin Tops $122K on Record ETF Inflows and Presales Rally
Bitcoin’s price surged to new all-time highs, topping $120,000 on July 11 and exceeding $122,000 on July 14. The rally was powered by record institutional ETF inflows and a Crypto Fear & Greed Index reading of 74 alongside declining circulating supply. Major BTC ETFs logged a combined $1.029 billion inflow on July 11, led by BlackRock’s IBIT with $953 million. 42 companies added 61,309 BTC in June, while Michael Saylor’s Strategy resumed weekly purchases, boosting its holdings to 597,325 BTC. Ethereum consolidated near $2,980, supported by $204 million in ETH ETF inflows. Altcoins surged: HBAR jumped 27%, XLM rose 22% ahead of its v23.0.0rc2 upgrade, and ALGO climbed 29% on real-world asset integrations. Crypto presales are heating up as early-stage tokens like TOKEN6900 and Bitcoin Hyper attract whale-driven funding, exemplified by Pump.fun’s PUMP raising over $500 million in 12 minutes. Traders should monitor low-cap projects amid this liquidity-driven rally. US lawmakers also plan votes on the GENIUS Act, CLARITY Act and Anti-CBDC Surveillance State Act, which could bring regulatory clarity.
Bullish
The combined impact of record ETF inflows, institutional buying and a stretched supply has created strong bullish momentum for Bitcoin, likely fueling further price appreciation in the short term. Renewed whale and corporate accumulation—highlighted by Michael Saylor’s resumed purchases and 42 companies adding over 61,309 BTC—reinforces demand and may compress available supply. The rally in altcoins and heated presales indicate elevated risk appetite and liquidity chasing higher-beta assets. Over the long term, sustained institutional adoption through ETFs and potential regulatory clarity from upcoming US legislation could underpin market stability and growth, suggesting a continued bullish outlook.