During a time when most investors in Vietnam are still sleeping, on international exchanges, Bitcoin has quietly continued to write historical milestones.
Accordingly, at 1:43 a.m. on July 14 (Hanoi time), the world's largest digital currency reached 119,442 USD, according to data from Investing.com. This is the highest price ever recorded for Bitcoin, far surpassing the old peak set at the beginning of the month.
On CoinMarketCap, the price fluctuated in the past 24 hours between 117,301 - 119,303 USD, with trading volume reaching nearly 48 billion USD. The increase was reinforced by strong liquidity and institutional cash flow into spot-end Bitcoin ETFs, especially from giants like BlackRock. BlackRock's IBIT Fund currently manages more than $80 billion in assets, setting a new record for growth in just 6 months of listing.
Not only Bitcoin, the altcoin market also showed signs of recovery. Ethereum is currently trading around $2,970, up slightly from yesterday. copper such as Solana, XRP, Cardano also increased by 2 - 5% depending on the time. The total market capitalization is currently about 3.72 trillion USD, with Bitcoin accounting for 63.8%, reflecting the "go according to large assets" mentality that still dominates.
Another factor that experts consider the driving force for this increase is the Crypto Week event taking place in Washington DC, starting from July 14.
This is a series of days when the US Congress discusses key draft laws related to cryptocurrencies, notably the CLARITY Act and the Genius Act - expected to clarify the legal framework for this rapidly developing market.
Rumors that the US Federal Reserve (FED) may cut interest rates in September have also created a wave of optimism. In a lower interest rate environment, investors tend to seek alternative assets such as Bitcoin as a long-term safe haven.
However, not all are pink. Some analysts warned that after reaching a peak, the market may see short-term corrections to "squeeze" the number of retail investors who have previously bottomed. Milestones to watch this week include the $117,000 support zone and resistance around $120,000 if it breaks through this threshold, Bitcoin could target $150,000 by the end of the year.
In Vietnam, Bitcoin and other cryptocurrencies are not recognized as legal payment methods and are not protected by law. Investors need to be cautious, avoiding risks from strong price fluctuations and fraud related to cryptocurrency.
