Bitcoin breaks all barriers, surpasses $120,000 mark

(Dan Tri) - Bitcoin surpassed the $120,000 mark for the first time in the morning session of July 14, thanks to a wave of favorable policies from Washington and the public support of President Trump.

On the morning of July 14, a historic milestone was set in the digital asset market. Bitcoin, the world's largest cryptocurrency, officially broke all previous records, reaching an unprecedented peak of 122,571.19 USD/BTC. Despite a slight correction later, the price remained firmly above the 121,000 USD threshold, recording an increase of more than 2% for the day and nearly 30% since the beginning of the year.

This spectacular breakthrough was not a random event but the culmination of a process fueled by tectonic shifts from both the corridors of political power and the massive capital flows of financial institutions.

Wind from Washington: The "Crypto President" Takes Action

The main and most obvious driver of this rally comes from the “center of American power.” The Washington administration has declared the week starting July 14 as “Crypto Week,” a symbolic but hugely significant move.

This week, the US House of Representatives will begin debating and is expected to vote on a series of bills designed to create a clear and comprehensive legal framework for the digital asset industry — something the crypto community has been craving for years.

Among them, three laws are attracting special attention.

Genius Act: Considered the most important, this bill would establish the first federal regulations for stablecoins - cryptocurrencies pegged to the US dollar. Having a clear legal corridor for stablecoins would be a solid foundation for the entire decentralized finance (DeFi) ecosystem.

Clarity Act: As the name suggests, this act aims to clarify the definitions and classifications of digital assets, helping projects and investors escape the legal “gray area”.

Anti-CBDC Surveillance State Act: Reflecting a pro-privacy and decentralization stance, this act limits the government 's ability to issue a central bank digital currency (CBDC) that could be misused to track citizens.

The regulatory push has been enthusiastically supported by President Donald Trump, who has called himself the “Crypto President” and has repeatedly called on lawmakers to make regulations more industry-friendly.

More notably, bitcoin’s meteoric rise this year received a huge boost in May, when President Donald Trump signed an executive order establishing a national strategic reserve of bitcoin and digital assets. The move not only legitimized bitcoin at the highest level, but also signaled that the U.S. views bitcoin as a strategic asset, similar to gold or oil.

“Bitcoin is benefiting from a number of factors,” said Tony Sycamore, a market analyst at IG, citing strong institutional demand, continued bullish expectations and support from Trump. “The price has been very strong over the last 6-7 days and it’s hard to see where it will stop. It’s clear that $125,000 is within reach.”

Bitcoin prices surpassed $120,000 for the first time on the morning of July 14, marking the latest milestone for the world's most valuable cryptocurrency, which has been steadily rising in price over the past few weeks along with many other leading digital currencies (Photo: The Associated Press).

The era of the big investor

If political support is the east wind, then the flow of money from institutional investors is considered the tsunami that takes the bitcoin boat to new heights. This breakthrough is no longer the game of retail investors or technology enthusiasts.

The bitcoin hype has spread to the entire cryptocurrency market, creating a broad-based recovery. The total market capitalization of the entire industry has surpassed the $3.8 trillion mark, a huge number that speaks to the size of the market.

Ether (ETH), the second-largest coin by market cap, hit a more than five-month high, trading above $3,059 at one point. Coins like XRP and Solana also posted impressive gains, both up around 3%.

The boom is not limited to the U.S. market. In Asia, Hong Kong-listed cryptocurrency exchange-traded funds (ETFs) also had a stellar start to the week. Spot Bitcoin ETFs issued by leading fund managers such as China AMC, Harvest and Bosera all hit new highs.

Similarly, Ether ETFs managed by these same companies also recorded an increase of more than 2%. This shows that excitement and optimism are a global trend.

The event of bitcoin surpassing 120,000 USD/BTC is not simply a number, but the convergence of 3 core factors including political recognition, acceptance by major financial institutions, and a favorable macro context.

Pepperstone strategist Dilin Wu offered a nuanced assessment of where bitcoin stands today. “In today’s asset allocation landscape, bitcoin is no longer a purely speculative instrument, but rather sits on the border between digital hedges like gold and growth assets like tech stocks,” he said.

This “hybrid” status makes bitcoin attractive to a wide range of investors, from those seeking safety against inflation to those hunting for breakthrough returns.

Source: https://dantri.com.vn/kinh-doanh/bitcoin-xe-bo-moi-rao-can-vuot-moc-120000-usd-20250714150845649.htm