The post Why Bitcoin is Going Up Today? appeared first on Coinpedia Fintech News Bitcoin is back in the spotlight as its price has surged to a new record high of over $122,600 . While the rest of the crypto market is enjoying a positive run, Bitcoin’s rise feels different, it’s not just going up, it’s moving up in a nearly straight line every single day. So, what exactly is driving this rally? And where could Bitcoin go next? Institutional Demand vs. Limited Supply One of the biggest reasons behind this surge is the growing demand from institutions. According to Matt Hougan, Director of Investments at Bitwise, there’s a tug-of-war between huge buying interest and extremely limited daily Bitcoin supply. To give some perspective, only 450 new Bitcoins are mined each day, but just yesterday, spot ETFs scooped up 10,000 BTC. That’s not a typo, that’s 20X more demand than supply. This imbalance is a major factor pushing prices up fast. BlackRock’s IBIT ETF Breaks Records BlackRock’s Bitcoin ETF, known as IBIT, has become a major force in the market. Last week, it hit $84 billion in assets under management, a number it reached in only 200 trading days. For comparison, it took the gold ETF (GLD) over 15 years to hit similar numbers. IBIT now holds more than 700,000 BTC, making it the largest holder by far, nearly 100,000 more than its next closest competitor. Dollar Drops, Bitcoin Climbs While interest rates are rising and the U.S. dollar has fallen by 11% in just six months, Bitcoin has surged more than $15,000 since July began. A lot of this sudden push came right after the U.S. House approved President Trump’s “Big Beautiful Bill” on July 3rd. For many, this signaled that big spending was here to stay, and that made Bitcoin, which many see as digital gold, look even more attractive. Geopolitical tensions are also playing a role. U.S. President Donald Trump has returned with a strong pro-crypto stance. Recently, Trump imposed 50% tariffs on copper and targeted Brazil with penalties. What’s Next for Bitcoin? Some market watchers say Bitcoin has now entered what they’re calling “crisis mode.” Meanwhile, Geoff Kendrick, head of digital asset research at Standard Chartered, said Bitcoin could reach $135,000 by the end of Q3 and possibly hit $200,000 by year-end. However, Bitwise’s Matt Hougan also believes that if the current gap between strong demand and limited supply continues, Bitcoin’s price could climb toward the $200,000 mark by the end of the year.
