Crypto Traders Eye $130K Bitcoin as Majors Price-Action Shows Market Structure Shift
2025-07-12 08:09:16
Main Idea
Bitcoin's rally to $120,000 has sparked a broader breakout in major cryptocurrencies, with institutional backing and structural market improvements driving the upward trend.
Key Points
1. Bitcoin reached $120,000, leading to significant gains in other major cryptocurrencies like Ethereum, Solana, XRP, and Dogecoin.
2. Institutional players and corporate treasury purchases are supporting the market's measured ascent, with custodians scaling institutional pipelines.
3. Dogecoin surged 23% over the past week, while XRP volumes spiked on Korean exchanges, and Cardano, TRX, and AVAX also posted gains.
4. Analysts note that Bitcoin's rally may target the $130,000 range, though it remains below a major resistance zone.
5. Ethereum ETFs saw a surge in inflows, with BlackRock’s ETHA drawing a record $300M, indicating strong institutional interest.
Description
Bitcoin’s rally to $120,000 this week has sparked a broader breakout across major crypto assets, with ether (ETH), Solana’s SOL, XRP, and dogecoin (DOGE) all posting high single-digit percentage gains. However, this time, price action isn’t just about momentum, as traders claim that market structure is evolving under the weight of institutional influence. “This isn’t a frenzied boom with no foundation,” said Seamus Rocca, CEO of Xapo Bank. “It’s a measured ascent, backed up by large institutiona...
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