The cryptocurrency, buoyed by a wave of institutional and retail optimism, peaked at $119,444 at around 10:15 a.m. Eastern time before briefly retracing its gains to consolidate just below the new high. This latest surge solidifies a powerful upward trend and leaves bitcoin within striking distance of the next major psychological and technical resistance level at $120,000.

BTC/USD 4-hour chart via Bistamp on July 13, 2025.

The relentless climb comes amid a broader market rally and a period of significant inflows into spot bitcoin exchange-traded funds (ETFs), signaling a deepening of institutional conviction in the digital asset as a legitimate store of value.

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