On the afternoon of July 14, Bitcoin extended last weekend’s strong rally, breaking through USD 122,000 during Asian trading hours and setting a fresh all-time high. As of 3:00 p.m. Singapore time, the intraday gain remained above 3 percent. Meanwhile, the U.S. Congress is kicking off a legislative sprint dubbed “Crypto Week,” with votes scheduled on the Digital Asset Market Structure bill (CLARITY Act), the stable-coin bill (GENIUS Act) and the Anti-CBDC Surveillance Act. The market widely expects these measures to greatly enhance long-term regulatory clarity, removing a key barrier to broader institutional adoption of crypto assets.

Closing in on USD 122,000, More Than 3 Percent Up on the Day

At around 12:07 a.m. ET on Monday, Bitcoin crossed the USD 120,000 mark for the first time. Bullish momentum then continued, sending the price to an intraday peak of USD 122,194. Real-time quotes from Economic Times show the coin still trading above USD 122,000 in the afternoon, with a 24-hour advance of roughly 3 to 3.8 percent, lifting Ether and several large-cap altcoins in tandem.

ETF Inflows, Macro Hedging and Technical Breakout Align

On-chain and derivatives data indicate that spot-Bitcoin ETFs saw net inflows of more than USD 300 million over the past 24 hours, while open interest in futures rose 6.4 percent and trading volumes more than doubled year-on-year. Technically, a flag breakout on the daily chart and a bullish alignment of moving averages on the four-hour chart have opened further upside. Analysts note that, against the backdrop of a new round of U.S. tariffs, institutional investors are seeking hedges against inflation and geopolitical uncertainty, positioning Bitcoin once again as “digital gold.”

Three Bills to Tighten the Rulebook

The House Financial Services Committee announced that during “Crypto Week” (July 14–18) it will sequentially review and vote on three key bills:

• CLARITY Act — Creates a “commodity token” category for digital assets, delineates SEC and CFTC oversight, and sets registration and reporting rules for compliant trading venues;
• GENIUS Act — Requires stable-coin issuers to maintain 1:1 reserves, subjects them to the Bank Secrecy Act, and establishes clear redemption mechanisms;
• Anti-CBDC Surveillance Act — Bars the Federal Reserve from issuing or helping to issue any form of retail central-bank digital currency, in order to safeguard civil privacy.

If passed, the bills would mark a key milestone in the Trump administration’s “pro-crypto” agenda and are viewed in the industry as the first real year of regulatory implementation.

Market View: Regulatory Tailwinds and Liquidity

Quant funds note that once the rules are settled, traditional asset managers and payment giants may accelerate their deployment, potentially expanding the crypto market’s pool of compliant capital. Technically, traders are watching the USD 125,000–130,000 band as the next target; if volume expands, a challenge of the USD 130,000 round number could come quickly. Even so, profit-taking at highs, tighter macro liquidity and partisan wrangling during the legislative process all pose volatility risks.

In the near term, Bitcoin is enjoying the synergy of capital, sentiment and policy tailwinds; whether the price can hold above USD 120,000 over the medium term will depend on the progress of “Crypto Week” legislation and broader macro factors. Investors seeking high returns should also carefully weigh volatility and evolving compliance requirements.