Bitcoin’s Price is Nowhere Near Overheating Despite Surge to $123K: CryptoQuant
2025-07-16 19:41:15
Main Idea
Bitcoin recently reached a record high of $123,000, driven by institutional demand and healthier market conditions, with potential for sustained growth.
Key Points
1. Bitcoin surged to an all-time high of $123,000 on July 14, following earlier peaks of $112,000 and $118,000.
2. On-chain data from CryptoQuant indicates short-term corrections due to profit-taking behavior, as shown by spikes in the UTXO Age Bands metric.
3. Institutional demand is rising, with 29 companies adding 4,209 BTC to their balance sheets between July 7 and 12.
4. U.S. spot Bitcoin ETFs saw over $2.7 billion in inflows last week, with BlackRock’s IBIT ETF surpassing $80 billion in assets under management.
5. The market's reduced speculation and strong institutional interest may support further price increases without immediate pullbacks.
Description
Bitcoin recently surged to unprecedented levels, breaking past $123,000 for the first time on July 14. The milestone follows earlier highs of $112,000 on July 9 and $118,000 on July 11, marking a series of sharp moves within days. However, unlike previous rallies, the current surge appears to be supported by healthier market conditions. On-chain data from CryptoQuant suggests the market is not overheating – a notable contrast to past cycles where similar price spikes led to short-term correction...
Latest News
- FLOKI Explodes 27% Daily After Pattern Breakout: These Are Next Targets2025-07-17 11:39:00
- Ripple’s XRP Failed in January: Can It Succeed in July?2025-07-17 11:04:36
- Ethereum Hits 152M Active Wallets, Gains 50% in 4 Weeks2025-07-17 10:27:19
- Shiba Inu (SHIB) Spikes 15% Weekly – So Why Are Most Holders Still Losing?2025-07-17 10:26:45
- TRX Gears Up for Breakout as Tron Inc. Goes Public—Is $0.32 the Launch Point?2025-07-17 08:50:23