- Spot Bitcoin ETFs drew $120B inflows in 2025. Long-term holder supply hit record highs amid accelerating exchange outflows.
- El Salvador issued $500M Bitcoin-backed bonds for infrastructure, settled on-chain via Liquid Network—a sovereign first.
Bitcoin reached $122,838 early Monday, July 15th. European trading hours saw this new highest price. The prior week ended July 12th finished with a strong upward move. Bitcoin broke past resistance near $109,000 to $111,872. Trading this week continues upward.
More buying in the immediate Bitcoin market supports this rise. Coinglass data shows Bitcoin Open Interest reached $85 billion. This sets a fresh record. Simultaneously, many short positions closed.
Vanguard Revises Bitcoin View
Vanguard Group Inc. manages approximately $10 trillion. The firm expressed caution about Bitcoin for years. Vanguard stated Bitcoin did not fit long-term investing before.
Vanguard says #Bitcoin is “immature” and has “no inherent value.”
Then quietly becomes the top shareholder of a company holding over $9B in BTC. pic.twitter.com/HE030JTSyc
— TFTC (@TFTC21) July 14, 2025
Recent U.S. Securities and Exchange Commission filings reveal a shift. Vanguard holds over 20 million shares of Strategy Inc. This ownership equals almost 8%. Strategy Inc. holds 601,550 Bitcoin now. Vanguard likely stands as Strategy Inc.’s biggest investor, ahead of Capital Group.
Bitcoin Price Path Considered
Analysts see Bitcoin’s current movement matching patterns from past rising markets. Technical indicators give specific information.
The weekly Relative Strength Index moved above 70 this week. This level was last crossed in 2024, and Moving Average Convergence Divergence shows a positive histogram growing. Its MACD line stays above zero.
Charts showing shorter periods, like two hours, reveal a series of higher peaks and higher valleys. This sequence frequently occurs during price increases. Given the technical structure, ETHNews analysts view movement toward $150,000 as more likely soon than a drop under $100,000.
Bitcoin recently broke through the $118,000 resistance level, pushing toward a fresh psychological milestone at $120,000, now acting as the next pivot zone. A confirmed breakout and sustained close above this level could initiate a leg up toward $125,000 and ultimately $130,000.
On the downside, short-term support is found at $116,000, with stronger consolidation expected near $112,000—a level that has served as a reliable demand zone throughout July.
The success of spot Bitcoin ETFs in the U.S., Europe, and Asia continues to draw institutional capital. In 2025 alone, over $120 billion in new ETF flows have entered BTC-based instruments, and several new funds in Brazil, UAE, and Hong Kong have launched in Q2–Q3. On-chain metrics reflect this: long-term holder supply is at an all-time high, and exchange outflows are accelerating.
El Salvador Launches Bitcoin-Backed Bonds for Global Trade Settlement
Bitcoin is also being utilized in cross-border settlement infrastructure, particularly in South America and Africa, where local currencies face volatility. The Bitcoin Lightning Network has grown to over 40,000 active nodes, processing microtransactions and remittance flows with fees near zero and instant settlement times.
El Salvador’s government has successfully issued a $500 million Bitcoin-backed bond to fund infrastructure, with settlement fully processed in BTC via the Liquid Network. This marks the first sovereign Bitcoin bond settled entirely on-chain and is already trading on secondary crypto-native platforms.
