Bitcoin Nears $120,00 With New High

The following are key points.

• Bitcoin reaches new record levels as the week closes, and liquidations penalize shorts.

• BTC prices include an interest test for $115,000.

• BTC/USD may copy the seven-week trend “discovery uptrend.”

BitcoinBTCBTC’s price volatility was back in the closing of each week on Sunday.

BTC prices spike to a new record of $19,500

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView Bitstamp reported BTC/USD at $119.444.

As it liquidated shorts, the pair surpassed its record high from just two days earlier.

Latest data on monitoring resources CoinGlass BTC’s liquidations in one hour amounted to over $20,000,000.

“Going to get interesting next week. We’ve got a lot of big liquidity clusters above and below the current price. We just took out a good bunch at the $119K+ region,” Daan Crypto Trades, a popular online trader, reacted with a post on X.

Daan Crypto Trades is watching two areas for liquidation: the $115,500-116,500 range and above $120,000.

🚨 Alert: 95K traders wiped out $208M in 24 hour liquidations

Bybit’s BTCUSDT positions lost $1.49M, the largest single loss. pic.twitter.com/0Rg6PXKHtP

— Cointelegraph (@Cointelegraph) July 13, 2025

“$BTC has a major resistance level between $119K-$120K. But after that, there’s a lot of upside,” Niels, a trader and an investor who cofounded Web3 accelerator Ted Labs. continued.

“If $BTC manages to break above $120K, the path towards $135K-$140K will open. In case of a rejection, BTC could retest $114K-$115K before reversal.”

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Some traders zoomed in, while BitBull remained steadfastly optimistic about the outlook of BTC’s price.

Related: Bitcoin $120K expectations add fuel to ETH, HYPE, UNI and SEI

“There’s no reason to be bearish on $BTC here. The strongest weekly breakout since November 2024, which led to a 50% pump last time,” He told X Followers

BitBull identified several bullish catalysts that impact Bitcoin, including record institutional inflowsThe upcoming US “Crypto Week” There are rumors about the resignation or Federal Reserve chair Jerome Powell.

“Week 1 in Bitcoin’s Price Discovery Uptrend 2 is slowly coming to an end. Week 2 begins tomorrow,” Rekt Capital is the popular trading and analysis firm. added.

“The first Price Discovery Uptrend lasted 7 weeks.”

This article contains no investment recommendations or advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.