Bitcoin has breached another record level, hitting $120,000 for the first time.

On Monday, July 14, 2025, bitcoin was 2.7% higher at $120,990.05 at 12:35 am ET.

The world’s biggest cryptocurrency has been on a winning streak after hitting record highs for three days last week. Bitcoin is now nearly 30% higher this year.

The cryptocurrency’s blistering gains this year come on the back of support from President Donald Trump‘s administration.

In May, President Donald Trump signed an executive order for a strategic bitcoin reserve and digital asset stockpile.

According to Research Strategist at Pepperstone, Dilin Wu, “Bitcoin’s latest breakout appears to be the result of a structural rally driven by institutional flows, supported by a favourable macro backdrop and reinforced by a shift in regulatory sentiment.”

Wu cited institutional and corporate investors as key participants in this trend, highlighting the surge in tech stocks fueling investor risk appetite as a boost for Bitcoin.

The surge in tech stocks fueling investor risk appetite is also boosting bitcoin, she added.

“In today’s asset allocation landscape, bitcoin is no longer just a speculative instrument; it straddles the line between a digital hedge like gold and a growth asset like tech equities,” Wu wrote.

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