Three catalysts that can push Bitcoin beyond $ 120k

Key Takeaways:
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Record the growth of the global currency supply is a huge tailwind for Bitcoin.
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Bitcoin ETF spots can exceed the gold holdings, which strengthened the status of the BTC asset reserve.
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The streams of streams remain limited but can fire a strong rally if the return of the mainstream interest.
Bitcoin (Btc) last exchanged for $ 120,000 on July 23, prompting entrepreneurs to ask if a new all-time high this year is still possible.
Global uncertainty in the economy and the maintenance of Artificial intelligence The sector remains the greatest risk.
However, three major near-medium-term drivers can set Bitcoin on a path higher than the current $ 2.3 trillion market capitalization.
Some analysts expect Bitcoin to surpass the $ 23 trillion of gold appreciation, while others argue that a full decay from tech stocks is longer as the adoption remains in its early stages.
Although the investor’s understanding does not move, the expansion of the global financial supply puts the basis for a new paradigm, and Nvidia (NVDA) can sign that change.
Bitcoin trading such as nvidia, approach and metaplanet
Nvidia’s appreciation rose to $ 4.4 trillion from $ 2.3 trillion in March, despite the latest quarterly net income flat compared to six months before.
Traders may assess the higher income in the future, or the metrics of appreciation may lose relevance as the governments expect Accelerate financial expansion Due to the mounted debt on the fiscal.
The M2 Global Money Supply across the 21 largest central banks reached a record of $ 55.5 trillion in July, while the US budget deficiency costs $ 1.3 trillion in just nine months.
Conditions support the case for Bitcoin Bulls, even though the BTC’s relatively strong relationship with tech stocks continues.
However, the retailer streams is more than nothing Despite the 116% of Bitcoin earned last year, but that is expected to change.
The interval compared to the 22% annual return of S&P Strategy (Mstr) and metaplanet (MTPLF) taking titles.
Related: The Bitcoin company metaplanet begins August with the first large purchase
Currently, crypto apps such as Coinbase and Robinhood show a small sign of retail retail, with the same remaining out of the Top-10, something last achieved in November 2024.
While the catalyst for the renewed retail interest was unsure, the significant room remains for a rally driven by retail in 2025, especially as traditional finance and the US government embraced Bitcoin.
Bitcoin gets 401 (k) green light
US president Donald Trump Signed an Executive Order on Thursday allowing cryptocurrency and other alternatives to 401 (k) retirement accounts.
Michael Heinrich, co-founder and CEO of 0G Labs, said the change of 401 (K) could “unlock the retiring capitalist trillions for Bitcoin.”
Bitwise chief investment officer Matt Hougan said the change could change for the industry.
Currently, the US spot bitcoin exchange-traded funds holds $ 150 billion in property, compared to $ 198 billion for gold instruments in July 2025, According to In Forbes.
When the Bitcoin ETF spot exceeds the equivalent gold handling, the event can help its cement as a reserves owned instead of a trading at risk.
Over time, more institutional investors are likely to add positions to Bitcoin as it gets relevance as a reserve owner for public companies, wealth funds, and government. While accurate timing remains unsure, the trajectory of Bitcoin toward a new all-time high in 2025 will appear firmly set.
This article is for general information purposes and is not intended to be and should not be done as legal or investment advice. The views, attitudes, and opinions expressed here are unique and do not necessarily reflect or represent the views and opinions of the cointelegraph.