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"Marvel" Bitcoin breaches $120k and is "firmly on track for the symbolic $150k price target”

ended 14. July 2025

BITCOIN is “firmly on track for the symbolic $150k price target”, experts have said, as macroeconomic headwinds, tariff-led turbulence, a pro-crypto US administration and growing investor appetite send the world's leading cryptocurrency soaring past $120k. This morning, Bitcoin passed $122k. One trader said Bitcoin is a ”marvel" and will breach $1m in the next decade.

Prem Raja, Head of Trading Floor at Currencies 4 You, said Bitcoin breaching $120k is being “fuelled by a combination of macroeconomic tailwinds and strong investor appetite".

He added: “With the Dollar under pressure, markets have entered a risk-on phase, driving capital into equities, tech and digital assets. Institutional demand for Bitcoin remains strong, with ETF inflows continuing to support price action.

“As confidence grows, traders are now positioning for further upside, with the $120k milestone in the rear mirror. Altcoins are also beginning to benefit from this rally, with Ethereum, Solana and others seeing renewed momentum.”

Harry Mills, Director at Oku Markets, said: "Bitcoin continues to defy the doubters and has now shot past $120k, driven by a combination of renewed risk appetite and growing institutional demand. Confidence is clearly returning to the markets, with investors rotating back into high-beta assets like crypto.

“This rally is also fuelled by positive regulatory momentum, helping to reduce uncertainty and encourage institutional investment. While momentum looks promising and some altcoins may follow, it’s important to remember that crypto remains volatile and sensitive to policy and macro changes.”

A bullish Chris Barry, Director at Thomas Legal, said “Bitcoin is booming and now firmly on track for the symbolic $150k price target. With momentum growing exponentially, it could be a matter of weeks before it gets there".

Anita Wright, Chartered Financial Planner at Anita Wright, said Bitcoin has a gold-like resilience and a credible long-term case: "Bitcoin’s rally has been primarily driven by a combination of improved global liquidity, macroeconomic uncertainty and renewed investor confidence. Also, Bitcoin’s nature as a decentralised, global asset, unaffected by corporate earnings or domestic currency exposure, has made it particularly attractive amidst trade tensions, corporate margin pressures and rising stagflation concerns.

“It has also held up well during periods of capital outflow that hurt equities and bonds, echoing gold-like resilience. The election of a pro-crypto US administration has provided fresh momentum. While short-term corrections remain possible, liquidity remains a strong tailwind, and Bitcoin's resilience suggest it continues to have a credible long-term case.”

But Scott Gallacher, Director at wealth manager, Rowley Turton, sounded a note of caution: "Bitcoin remains highly volatile and speculative. Could it go higher? Absolutely. But it could just as easily suffer sharp corrections. For me, Bitcoin remains a speculation rather than an investment.

“Other coins may follow Bitcoin’s lead in the short term, but many lack Bitcoin’s liquidity and recognition, making them even riskier.”

6 responses from the Newspage community

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Premium
David Belle
Founder and Trader at Fink Money
The best performing asset class of the past 15 years keeps performing. Who'd have guessed it? In the next decade, we will see Bitcoin at $1m. That's without doubt. Constrained supply and an ever-expanding global money supply has the same dynamics as the property market — you can't make more land so an increase in money supply simply pushes land, and therefore property prices, up. Either way, Bitcoin has landed. It's a marvel, and the naysayers will keep suggesting it is a bubble and fraudulent.
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Prem Raja
Head of Trading Floor at Currencies 4 You
Bitcoin has surged past $120k, fuelled by a combination of macroeconomic tailwinds and strong investor appetite. A US tax bill has sparked fears of widening fiscal deficits, weakening the US Dollar and reinforcing Bitcoin’s appeal as a hedge. With the Dollar under pressure, markets have entered a risk-on phase, driving capital into equities, tech and digital assets. Institutional demand for Bitcoin remains strong, with ETF inflows continuing to support price action. As confidence grows, traders are now positioning for further upside, with the $120k milestone in the rear mirror. Altcoins are also beginning to benefit from this rally, with Ethereum, Solana and others seeing renewed momentum. If current conditions persist, a bearish dollar, bullish markets and ongoing fiscal stimulus, we could be entering a broader crypto surge, with Bitcoin leading the charge and altcoins following closely behind.
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Harry Mills
Director at Oku Markets
Bitcoin continues to defy the doubters and has now shot past $120k, driven by a combination of renewed risk appetite and growing institutional demand. Confidence is clearly returning to the markets, with investors rotating back into high-beta assets like crypto. This rally is also fuelled by positive regulatory momentum, helping to reduce uncertainty and encourage institutional investment. While momentum looks promising and some altcoins may follow, it’s important to remember that crypto remains volatile and sensitive to policy and macro changes.
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Editor
Chris Barry
Director at Thomas Legal
Bitcoin is booming and now firmly on track for the symbolic $150k price target. With momentum growing exponentially, it could be a matter of weeks before it gets there. We are entering the last three months of the bull cycle, which historically has always proven to show the biggest price leaps. The most recent rise is driven from more institutional adoption and countries such as South Korea now passing a bill to start a sovereign wealth fund, following the US and others. As an asset class, crypto is looking less puzzling by the day.
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Editor
Anita Wright
Chartered Financial Planner at Ribble Wealth Management
Bitcoin’s rally has been primarily driven by a combination of improved global liquidity, macroeconomic uncertainty, and renewed investor confidence. Over the past few months, liquidity has returned to the markets after the tightening phase of 2022. As global M2 money supply (a broad measure of liquidity) increases, Bitcoin tends to benefit more than traditional assets such as equities or bonds. Also, Bitcoin’s nature as a decentralised, global asset, unaffected by corporate earnings or domestic currency exposure, has made it particularly attractive amidst trade tensions, corporate margin pressures and rising stagflation concerns. It has also held up well during periods of capital outflow that hurt equities and bonds, echoing gold-like resilience. The election of a pro-crypto administration has provided fresh momentum. While short-term corrections remain possible, liquidity remains a strong tailwind, Bitcoin resilience suggest it continues to have a credible long-term case.
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Editor
Scott Gallacher
Director at Rowley Turton
Bitcoin remains highly volatile and speculative. Could it go higher? Absolutely. But it could just as easily suffer sharp corrections. For me, Bitcoin remains a speculation rather than an investment. While the launch of Bitcoin ETFs has fuelled demand and brought more institutional money into the market, it’s important to remember that fund managers don’t necessarily believe in Bitcoin’s long-term value—they make money from managing assets, regardless of whether prices rise or fall. Other coins may follow Bitcoin’s lead in the short term, but many lack Bitcoin’s liquidity and recognition, making them even riskier.