Crypto’s Climb: How High Can Bitcoin Go?
In Brief
Bitcoin’s latest surge past $119,000 is fueled by political backing, institutional investment, ETF inflows, and tightening supply, signaling its growing role as a mainstream macro asset.
As Bitcoin shattered its all-time high previous week, before stabilizing around $119,100, market watchers are asking the same question: What’s propelling this crypto rally, and where does it go from here?
From political influence and institutional investments to regulatory clarity and tightening supply, several key forces are converging to push Bitcoin into uncharted territory.
Trump’s Policies and the Strategic Bitcoin Reserve
The current surge finds one of its major catalysts in political developments. President Donald Trump’s bold declaration of a “Liberation Day” on April 2, paired with new tariffs on global trade partners, created an economic shockwave. While equity markets wavered, Bitcoin took off.
A central trigger was Trump’s executive order establishing a U.S. strategic Bitcoin reserve. Calling it a “virtual Fort Knox for digital gold,” this move symbolically embedded Bitcoin into the national economic strategy. Financial strategist Nigel Green noted that Bitcoin is now part of “corporate treasury policy and institutional portfolios,” especially as the world’s largest economy embraces it on a sovereign level.
The idea of a government stockpiling Bitcoin has caused ripple effects internationally, with other institutions following suit. Green explained that such a move doesn’t just legitimize Bitcoin, it “forces others to act,” marking a shift in the global risk framework.
ETF Inflows and Institutional Momentum
Much of the recent momentum stems from a surge in Bitcoin Exchange-Traded Fund (ETF) activity. On a single day last week, Bitcoin ETFs recorded their largest 2025 inflow at $1.18 billion, underscoring investor appetite.
According to Jeff Mei, Chief Operating Officer at crypto exchange BTSE, the rally is likely being driven by “longer-term institutional buyers,” who could propel the asset to $125,000 within weeks. While Trump’s tariff policies may spark market jitters, institutional investors appear to be discounting short-term volatility for long-term gains.
Adding to the momentum, Michael Saylor’s firm, MicroStrategy, resumed its Bitcoin purchases after a short pause. These moves, combined with weekly chart gains of nearly 10%, demonstrate renewed confidence.
Bitcoin as a Hedge and Maturing Asset
While crypto has long been considered a volatile, risky asset, its recent behavior challenges that narrative. Since May, Bitcoin has traded in a relatively stable band between $100,000 and $110,000.
Roshan Roberts, CEO of OKX US, described Bitcoin as showing it is “in a class of its own,” especially as altcoins stumble and trade tensions rise. According to Roberts, institutional investors now view Bitcoin as a macro hedge and a maturing asset class.
Crypto Week: Legislation on the Horizon
Monday, July 14, marked the start of “Crypto Week” in the U.S. House of Representatives, where lawmakers began debating new bills designed to clarify regulations for digital assets.
One key proposal is the GENIUS Act, which seeks to set federal standards for stablecoins and allow private firms to issue digital dollars. This bill has broad implications for integrating conventional finance with the crypto ecosystem.
Xu Han of HashKey Capital explained that “global policy clarity” and tighter supply have buoyed investor confidence. With long-term holders locking up supply, the ongoing debates in Congress could be the final push that solidifies crypto’s regulatory foundation.
10x Research CEO Markus Thielen noted that in just six to eight weeks, institutional investors have poured $15 billion into Bitcoin ETFs, while retail investors have largely stayed on the sidelines. Thielen set a year-end target range for Bitcoin between $140,000 and $160,000 but warned that a hawkish Federal Reserve could pose risks.
Supply Scarcity and Mining Constraints
Bitcoin’s fixed supply of 21 million coins remains one of its most compelling features. As that ceiling approaches, the rate of new coin issuance declines, creating scarcity that amplifies price surges.
Though some argue that Bitcoin’s limited supply is already priced in, its impact cannot be ignored amid rising demand and slowed distribution. As institutional players increasingly buy and hold, the available supply for trading shrinks further.
ETF Approval and Retail Access
The U.S. approval of Bitcoin ETFs in late 2023 was a watershed moment. These funds allow investors to gain exposure to Bitcoin’s price movements without dealing directly with the technical complexities of crypto wallets.
Major players like Fidelity and Franklin Templeton have made it easy for investors to allocate capital into Bitcoin through conventional channels. Bitcoin ETFs reached an all-time combined asset value of $158 billion recently, with back-to-back billion-dollar days.
Nikhil Bhatia of USC pointed out that ETF approval marked Bitcoin’s re-entry into “bull market mode.” It legitimized the asset for many conservative portfolios and opened the floodgates to institutional capital.
Crypto as a Macro Asset Class
The psychological shift around Bitcoin is arguably just as important as the financial one. No longer viewed as fringe, it is now part of serious economic discourse.
Tony Sycamore, a market analyst at IG, remarked that Bitcoin is currently “riding a number of tailwinds,” from institutional interest and favorable policy to strong technical patterns. He sees $125,000 as a realistic short-term target given the current trajectory.
Similarly, Bryan Armour from Morningstar said the current legislative blitz represents the continuation of pro-crypto policy under the Trump administration. Since Trump’s re-election in November, Bitcoin’s price has surged nearly 80%.
Where Could Bitcoin Go Next?
The big question now is how high Bitcoin can climb. A recent survey conducted by Finder polled 22 crypto analysts, with the average forecast placing Bitcoin at $145,167 by year-end. Some went further, predicting a climb to $458,000 by 2030.
Josh Fraser, co-founder of Origin Protocol, attributed the price rise to a global “flight to hard assets.” He argued that as governments print more fiat currency, people are turning to alternatives like Bitcoin, which he considers “a better version of gold.”
Not all experts share this optimism. John Hawkins of the University of Canberra warned that Bitcoin’s price is being “artificially inflated” by political factors and called it a “speculative bubble.” He believes Bitcoin still lacks intrinsic value and remains an unfulfilled promise as a payment method.
Still, even skeptics acknowledge the asset’s momentum. As Sycamore pointed out, the strong performance over the past week makes it hard to predict a ceiling. If institutional demand continues and the policy environment remains favorable, Bitcoin’s climb may be far from over.
A Maturing Market or Another Bubble?
Bitcoin’s latest rally is different from past cycles. This time, the drivers include institutional legitimacy, regulatory progress, political backing, and structural scarcity.
While skeptics warn of speculative excess, the broader market appears to view Bitcoin not just as a digital curiosity but as an emerging macro asset. With the U.S. Congress in the middle of what could be landmark crypto legislation and ETFs attracting massive inflows, Bitcoin’s place in global finance is increasingly difficult to dismiss.
Whether this surge leads to sustainable highs or another painful correction remains to be seen. But for now, Bitcoin is no longer knocking at the door of mainstream finance. It’s inside the building.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
