Bitcoin has surged past $120,000, setting a new all-time high on July 14, 2025, driven by robust institutional demand and significant inflows into spot Bitcoin ETFs. BlackRock's IBIT ETF has rapidly accumulated over $84 billion in assets, marking unprecedented growth in the ETF sector. Institutional investors now hold over 6% of Bitcoin's market cap through these instruments. The rally is further supported by favorable legislative developments in the US, including the CLARITY and GENIUS Acts. Analysts remain optimistic about Bitcoin's trajectory, with projections suggesting prices could reach between $125,000 and $150,000 by year-end. Despite moderate network activity, the NUPL metric indicates potential for continued growth, reinforcing Bitcoin's status as a hedge against economic uncertainties.