Bitcoin set a new all-time high this week, supported by a “combination of institutional, economic, and technical factors,” as highlighted by an analysis from XTB released on Wednesday.
“Bitcoin reached a new all-time high above $123,000 this week due to a combination of institutional, economic, and technical factors,” the statement sent to Notícias ao Minuto reads.
According to XTB, investor capital appears to be shifting from tech stocks to the crypto market, with “one of the main catalysts being the approval, in 2024, of Bitcoin spot ETFs in the United States, allowing direct institutional capital inflow into the cryptocurrency market.”
“This week is poised to be crucial in terms of legislation and regulation. The US House of Representatives has designated the period from July 14 to 18, 2025, as ‘Crypto Week’. During this period, lawmakers plan to debate and vote on three important bills: the CLARITY Act, the Anti-CBDC Surveillance State Act, and the Senate’s GENIUS Act. This legislative package aims to establish a clear regulatory framework and strengthen the US’s position as a global leader in digital asset innovation,” points out XTB.
Moreover, another “important factor,” according to the brokerage, is related to the “macroeconomic context”:
“The expectation of interest rate cuts by central banks, such as the US Federal Reserve and the European Central Bank, is leading many investors to seek scarce and inflation-resistant assets like Bitcoin. In this context, the asset has been consolidating as a type of ‘digital gold’, particularly among younger investors and in countries with monetary instability,” the note states.
Will Bitcoin continue to appreciate?
XTB considers that the “medium-term prospects for Bitcoin are mostly positive” and it is “likely that the price will continue to rise, with possible targets between $100,000 and $150,000, driven by continued institutional capital inflow, scarcity from halving, and the asset’s growing acceptance as a store of value.”
Bitcoin, the most known and traded cryptocurrency on the market, reached a new all-time high of $123,000, during Crypto Week, under scrutiny in several House of Representatives bills in the US.
After reaching $123,000 (€105,281) at 07:26 (06:26 in Lisbon), Bitcoin saw a moderate drop and, by 08:00 (07:00 in Lisbon), rose 2.60% to $122,200 (€104,596).
Lusa | 08:30 – 07/14/2025
After reaching $123,000 (€105,281) at 07:26 (06:26 in Lisbon), Bitcoin saw a moderate drop and, by 08:00 (07:00 in Lisbon), rose 2.60% to $122,200 (€104,596).
The US House of Representatives is debating three cryptocurrency bills this week: the CLARITY Act, the Anti-CBDC Surveillance Act, and the Genius Act.
These regulations aim to promote a comprehensive market structure that allows for the classification and differentiation of digital assets as securities or ‘commodities’, as well as a framework for ‘stablecoins’, among other issues.
According to Javier Molina, an eToro analyst, the Genius Act would provide ‘stablecoins’ with a rigid structure, while the CLARITY Act would establish clear boundaries, with the Securities and Exchange Commission (SEC) overseeing tokens.
Molina also mentioned that the Bitcoin Act would allow the Treasury and the Fed to acquire up to one million Bitcoins as a strategic reserve and protect private self-custody.
Meanwhile, analyst Juan Ignacio Crespo suggested that by the end of the year, Bitcoin could rise by 51% and reach $179,000.
