Bitcoin Hits Record High Of $120K, Jumps 10% In A Week; What's Driving The Surge?
Bitcoin price: The current price of Bitcoin stands at $120,938.95, marking a jump of 10 per cent over the past seven days. Know what's fueling the rally?
Bitcoin Price: The rally of Bitcoin price doesn't seem to wane at any moment ahead the US 'crypto week'. The popular cryptocurrency has extended its rally by touching its new all-time high of $120,000, driven by pro-crypto sentiment from the Trump campaign, strong ETF inflows and increasing corporate treasury allocations.
This upward movement pushed Bitcoin past Silver and Google, making it the 6th largest asset by market cap. The m-cap of Bitcoin stood at 2.4 trillion. On the other hand, the Google's m-cap is at $2.19 trillion.
According to CoinMarketCap, the current price of Bitcoin stands at $120,938.95, marking a jump of 10 per cent over the past seven days. The M-cap of Bitcoin stood now at $2.4 trillion. On the other hand, Google's m-cap stood at $2.19 trillion.
This massive inflow of institutional money coupled with euphoria around the US 'Crypto Week', which kicks off today, is driving the current rally, said Shivam Thakral, CEO of BuyUcoin.
Over the past week, several major cryptocurrencies have shown strong upward momentum. Ethereum (ETH) led with a 7-day gain of 18.26%, now trading around $3,044.93, driven by renewed interest in its DeFi ecosystem and network upgrades. Solana (SOL) also performed well, rising 10.03% over the week to $167.28, supported by growing developer activity and adoption. Dogecoin (DOGE) gained 17.50%, reaching $0.2050, likely fuelled by social media buzz and renewed retail interest. These consistent price increases, along with positive 24-hour movements, suggest strong ongoing demand in the broader crypto market.
Meanwhile, XRP and Stellar (XLM) stood out with massive gains. XRP jumped 29.44% to trade at $2.93, possibly on the back of improved legal clarity and market sentiment. However, the biggest winner was Stellar (XLM), which soared 100.77% over the week to hit $0.5049, marking a major breakout possibly linked to increased institutional or cross-border payment interest.
What Is Crypto Week?
The week ahead is anchored by 'Crypto Week" in Congress, key bills like the Clarity Act, GENIUS Act, and Anti‑CBDC Surveillance Act are moving through the House Rules Committee, with a full vote expected soon.
These bills aim to define crypto regulatory roles, authorize stablecoins, and block a U.S. central bank digital currency, providing clarity that could drive institutional market participation, said CoinSwitch Markets Desk.
Devika Mittal, Regional Head at Ava Labs notes that the timing couldn't be better, as countries like Vietnam are starting to embrace crypto themselves, following America's lead in the global digital economy.
Wall Street's big players have been waiting on the sidelines for clearer rules, and these bills could finally give them the confidence to dive in. But it's not just about attracting big money – there's real attention being paid to protecting everyday investors from scams and sketchy practices, she adds.
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July 14, 2025, 10:07 IST
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