Bitcoin Hits New Report On 'U.S. Cryptocurrency Week' Expectations

BTC Re-Rebounded Several Intra-Day Stakes...Break $120K
'American Coins' such as XRP and XLM Drive Market Upward
Expert "BTC Rising, Another Start That Doesn't End"

Bitcoin(BTC) renewed its new high on the 14th in anticipation of the start of the U.S. "Cryptocurrency Week" this week.

Bitcoin, which hit $119,371 at 5:35 a.m. on the 14th, has surpassed $120,000 during the day and continues to break new highs.

The cause of Bitcoin's surge is expectations for the U.S. cryptocurrency week. The U.S. House of Representatives will vote on major bills related to cryptocurrency from the 14th to the 18th.

The bills to be considered by the U.S. House of Representatives include the "CLARITY Bill," which regulates the legal classification and jurisdiction of cryptocurrencies, the "GENIUS Bill," a stable coin regulation bill in the U.S., and the "CBDC Monitoring State Bill," which restricts the issuance of CBDCs by the U.S. Federal Reserve.

If the bill is passed, expectations that cryptocurrency will enter the U.S. financial system in earnest were in effect. In addition to Bitcoin, major cryptocurrencies classified as "American coins" such as XRP and Stellar Lumen (XLM) soared due to market expectations.

A number of altcoins surged more than 10%, creating a clear bullish market atmosphere.

◇Bitcoin = Bitcoin price is $122,805 at 4:30 p.m. on Jul. 14, 2025. The Bitcoin share(dominance) was 64.70%.

The long(up) and short(down) betting ratios in the Bitcoin futures market stood at 32.43% and 67.57%, according to the on-chain analytics platform Sigbtc.

Experts predicted that Bitcoin's high march will continue for the time being based on various graphs related to Bitcoin.

"Bitcoin has a major resistance line between $120,000 and has a significant potential to rise if it breaks through it," said cryptocurrency expert Dan Crypto-Trayes. "If Bitcoin exceeds $120,000, it will open the way from 135,000 to $140,000."

Cryptocurrency-famous trader Bitbul also predicted that there are materials scattered in the market that will cause further Bitcoin's rise, which will lead to further Bitcoin's rise.

"Bitcoin's rise is due to U.S. institutional funds, and the market is full of catalysts that will cause further Bitcoin's rise, including the upcoming U.S. 'Cryptocurrency Week' and the possibility of the resignation of U.S. Federal Reserve Chairman Jerome Powell," he wrote.

Another well-known cryptocurrency trader, Reck Capital, also said, "One of the two Bitcoin gains on the graph has been produced, and now it's time for the second rise to begin," adding, "The first rise lasted about seven weeks."

◇Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Jul. 14 was Sui(SUI), up about 11% on the day alone.

Sui is a smart contract platform maintained by a set of unauthorized verifiers that act similarly to verifiers in other blockchain systems. The Sui platform provides a flexible network that can be utilized to form a Web 3.0 environment and is based on Sui Move, derived from the core Move programming language.

The SUI token is used to pay for gas and allows users to stake SUI tokens with validators of the devolved equity proof model within the epoch. Fees collected through all transactions processed at the end of the epoch are distributed to the validator based on their contribution to the operation of the network.

◇Fear Greed Index = Digital asset fear-greed index provided by Alternative has entered the 'greed' phase with 74 points. The greed phase is a phase where price volatility and trading volume increase, and the price increases. The government should be cautious about selling products as it is highly likely to form a short-term high.

The cryptocurrency relative strength index(RSI) provided by Sigbtc was 84.9, which was 'overbought'. RSI sets the relative strength between the upward and downward pressure of a specific asset price and is an indicator of the scale of overbuying and overselling of a specific asset.

권승원 기자 ksw@blockstreet.co.kr