The encryption cycle ignites market sentiment! Strategy may once again increase holdings of BTC to support new highs.

Bitcoin breaks $120,000, setting a new historical high

According to Gate's data, Bitcoin (BTC) once broke through $120,000, setting a new historical high, and as of the time of writing, it is reported at $119,769.2. This increase occurred amid a slight decline in overall trading volume, demonstrating the resilience of market sentiment.

• 24h Change: +1.83%
• 7-day increase: +9.65%
• Monthly Increase: +13.71% (CoinMarketCap data)

Despite concerns about an impending market correction, Bitcoin remains strong above $119K, demonstrating a robust upward trend.

Other cryptocurrencies are also rising: Ethereum breaks $3,000

With the strong rise in Bitcoin prices, other mainstream cryptocurrencies are also "hitching a ride" on the increase. According to CoinMarketCap data:

• Ethereum (ETH) breaks through the $3,000 mark
• Cardano (ADA) and Ripple (XRP) have both increased by over 6% within 24 hours.

This ripple effect indicates that the entire cryptocurrency market is entering a new bull market cycle.

Michael Saylor hints that Strategy will increase Bitcoin holdings again

The rapid rise of Bitcoin is inseparable from the push of one of the largest "whales" of Bitcoin. Michael Saylor, founder of Strategy, posted a chart on social media showing the company's past Bitcoin purchase records, seemingly hinting at a possible buy-in of BTC again, which has attracted widespread attention in the market.

Saylor's move breaks a "silence" after his previous 12 weeks of continuous buying, once again signaling a strong demand for Bitcoin from institutions. Meanwhile, several Bitcoin treasury companies have recently made significant increases in their holdings, providing strong support for the market.

Trump's New Tariffs and Macroeconomic Uncertainty Drive BTC Upward

Market analysts point out that Trump's new round of high tariffs on certain imports from China and the European Union has increased uncertainty in the global market, triggering demand from investors seeking inflation-resistant assets.

Bitcoin, as digital gold, its anti-inflation and decentralized properties have been valued again, attracting a large influx of funds. This is also an important background for the recent price increase.

Crypto Week 2025 is about to start: Positive Bitcoin legislation is emerging

The House Committee on Financial Services will hold a series of hearings called "Crypto Week 2025" from July 14 to 18, focusing on three key pieces of cryptocurrency legislation:

• GENIUS Act (Digital Innovation and Unified Governance Act)
• CLARITY Act
• Anti-CBDC Surveillance State Act

The market generally views the passage of these three bills positively, believing it will bring a clearer compliance environment to the American crypto market. This optimistic expectation has already been reflected in the price of Bitcoin.

FOMC Meeting Preview: The Federal Reserve May Cut Interest Rates, Favorable for Crypto Assets

Investors are also closely watching the upcoming U.S. inflation and employment data, which will directly impact the Federal Reserve's FOMC meeting in late July. The current market highly anticipates that the Federal Reserve will initiate a rate-cutting cycle in the coming months, which is undoubtedly a major positive for risk assets such as Bitcoin.

Conclusion: Is a Bitcoin Bull Market on the Horizon? Multiple Positive Factors at Play

From macroeconomic background (Trump's tariffs, potential interest rate cuts) to institutional funds continuously flowing in, and then to favorable policies (Crypto Week legislation), multiple factors are jointly driving Bitcoin into a higher price range. For investors, this is an important stage that deserves close attention.