Bitcoin shoots over $ 122,000 – will the old coins follow?
Bitcoin has officially exceeded the $ 122,000 mark and has increased by over 3% in the last 24 hours and has reached a value of $ 122,300, according to CoinmarketCap.
This movement ends the multi -day upward trend, which was heated by the increasing institutional demand, the strong inflow of ETFs and the continuing upward impulse of the technical indicators.
Institutional appetite and ETF inflows drive the increase
Last day, the trading volume with Bitcoin rose by 39.34% to over $ 63 billion, which is a sign of a new market activity. The overall market capitalization reached $ 2.43 trillions. Analysts explain the increase with a wave of corporate acquisitions, since according to reports from the past few days, reserves BTC worth over half a billion dollars have bought.
Meanwhile, the Spot-Bitcoin ETFs registered in the USA continues to attract capital, which confirms the trust of institutional investors. This institutional presence helped the BTC to an increase from a base value of just under $ 117,900 at the beginning of July 14th to over $ 122,200 in less than 24 hours.
There are signs of an overbearing situation, but the dynamic continues
Although the short -term impulse is still significantly bullish, the technical indicators give the first warning signals for an overbearing situation. Bitcoin is currently being traded well above its sliding 7-day average, and several retailers expect a short consolidation phase, provided that the demand for ETFs does not last at the current pace.
What's next with the old coins?
The latest monthly increase in the Altcoin season index by 33% indicates that old coins could soon show better performance if Bitcoin stabilizes over $ 120,000.
Historically speaking, capital rotations in the best altcoins such as Ethereum, Solana and XRP often follow on large breakthroughs from BTC.
Since the macroeconomic environment improves with clearer regulatory signals in the United States and Asia, retailers observe whether this rally could expand beyond Bitcoin – or whether the leading digital system will continue to dominate the market flows by the end of July.
