Bitcoin Hits New $123K All-Time High as ETFs Buy 20x More BTC Than Is Mined Daily
2025-07-14 16:00:00
Main Idea
Bitcoin reached a new all-time high of $123,000, driven by institutional ETF inflows and broader market adoption, with BlackRock's ETF holding over 700,000 BTC.
Key Points
1. Bitcoin surged to a record high of $123,200, fueled by institutional participation and favorable regulatory moves.
2. Mohamed El-Erian cited institutional adoption, regulatory support, and strong market indicators as key drivers of Bitcoin's rise.
3. Spot Bitcoin ETFs are buying significantly more BTC than daily mining output, with BlackRock's IBIT holding over 700,000 BTC ($84B in AUM).
4. Technical indicators suggest bullish momentum, with resistance near $125,500 and potential targets at $130,000 and $136,000.
5. Support levels remain firm at $117,700–$118,200, with upcoming inflation data potentially influencing further price movements.
Description
Bitcoin climbs to $123,000 amid rising institutional involvement. Mohamed El-Erian cites broader adoption factors behind the rally. BlackRock ETF now holds over 700K BTC, surpassing $84B in assets under management. Bitcoin has established a new peak above $123,000, driven by a combination of institutional interest, supportive regulation, and market momentum. The surge reflects growing investor confidence and a shift toward wider cryptocurrency adoption. Economist Mohamed El-Erian pointed to thes...
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