Bitcoin Breaks $122,000: A Boundless Journey To New Heights

If you’d asked anyone in 2018 what happens when Bitcoin hits $100,000, they’d have probably said the world would either explode, or that we’d all be sipping cocktails in our digital penthouses by now. Spoiler: neither happened. What did happen is far more interesting—because the world kept spinning, and Bitcoin just kept going, throwing tantrums and parties in equal measure. If you want the real story, you have to step away from the headlines and chart a path through all the noise, mood swings, and the kind of price action that makes your average stock trader want to lie down in a dark room. So, here’s how it actually played out without any crypto evangelism nor panic; just the slow-burn drama of markets being markets.

December 2024: The $100K Milestone

There’s something funny about a number like $100,000. It’s so big, so obviously round, that it turns grown adults into mystics and meme lords in equal measure. So, as Bitcoin crept towards those six zeroes, the industry predictably lost the plot. Suddenly, every influencer was a sage, every cousin had a price target, and the whole thing felt less like a market and more like a very expensive group therapy session.

But here’s the thing: Bitcoin didn’t care. It had already spent most of 2024 building up momentum, with that halving in April quietly tightening the screws on new supply, and the U.S. election serving up the sort of political drama that gets even the “I only buy gold” crowd peeking. Trump wins, the market winks, and suddenly every news anchor has to learn how to pronounce Satoshi without giggling.

Then December 5, 2024 hit. Boom. Six figures. Phones buzzing, headlines screaming, Twitter spaces melting down. Bitcoin’s price zipped right past $100K and poked at $104K before the sugar rush wore off. By New Year’s Eve, the market had cooled to just under $93K. The real surprise? The sky didn’t fall, and some might have actually got rich overnight, unless they already were. The system just… kept working.

Look at those oversold levels. Source: Bitget

Early 2025: The Calm After The Storm

New year, same Bitcoin. By January, the after-party had settled into something a bit less glamorous. Think hangover brunch, not all-night rave. The price bounced between $95K and $110K, like a cat not quite sure if it wants to be indoors or outdoors. MicroStrategy tried to make waves with a billion-dollar buy, but honestly, the market mostly shrugged.

MicroStrategy’s Bitcoin holdings over time. Source: BitBo

February rolled around and, predictably, people remembered what taking profits feels like. Suddenly, there’s less shouting and a lot more checking of support levels. The price wobbled down to the mid-$80Ks, finished the month near $84K, and the “see, I told you so” brigade had their fifteen minutes. But, spoiler again: $80K held. And everyone accepted that it was just a correction. Because, well, that’s how markets work when everyone’s got skin in the game.

Spring 2025: Rebound And Renewal

Fast-forward to spring and the mood quietly brightens. April does its usual thing, thawing the market’s nerves, and Bitcoin edges back to $94K. At this point, the people still around are either true believers or genuinely good at managing risk. There’s less euphoria, more second cups of coffee, and a growing sense that Bitcoin at six figures isn’t so wild after all.

Then May arrives with actual news. America holds “Crypto Week” (which is less about parties and more about lawmakers awkwardly saying blockchain into microphones), but the market laps it up. ETF inflows pick up again, and on May 22, Bitcoin just casually sets a new high: $112,500. No fireworks, just a bunch of institutional types looking very pleased with themselves.

Of course, June decides to test everyone’s nerves. Bitcoin dips below $100K for a hot minute, a quick check on who’s actually paying attention. Buyers pile in, and we’re back over $107K before most people have figured out where the “sell” button is on their app.

Source: Raoul Pal

July 2025: Into Uncharted Territory

If you’ve made it to July without a few emotional scars, congratulations! You’re either a robot (if not, we’d recommend you check out our notoriously awesome Bitget Bots here), or you’ve finally figured out how to mute the word capitulation on Twitter. This month didn’t just creep in, it kicked the door down, suitcase in hand, ready to unpack a new set of records whether anyone felt ready or not.

By now, the market’s collective nerves are frayed but functional. Institutions are treating Bitcoin the way rich people treat vacation homes: as something that makes them feel both smart and a little bit above the noise. Legislative chatter in Washington is peaking again, but the new debate is about who gets to take credit for not banning it. Congress is fumbling through their “Crypto Week,” as if crypto hasn’t been living rent-free in people’s heads for years already.

Meanwhile, Wall Street is on a new scavenger hunt: finding the next ETF angle before the summer recess. There are now more institutional research notes about Bitcoin than there are Starbucks in Manhattan, and, for the first time, they’re mostly not just warnings about tulip mania. The price action is, frankly, ridiculous. Bitcoin sails past $122,000 just now, on July 14, as if it’s an almost casual push into yet another all-time high. The narrative has become “where does it stop” instead of a sneer with “will it survive?”. Social media alternates between victory laps and existential dread over whether this is the new normal or just a prelude to a spectacular correction.

Source: Reddit

And then there’s the crowd who never quite trusts a good thing. They’re watching the charts, half-expecting a 40% drawdown, because—let’s be honest—history has trained them to brace for impact. Yet the sellers are outnumbered by the “buy the dip” crowd, many of whom are now institutional desks rather than kids in their parents’ basements. The vibe is nervous, but not naïve. Most people are done betting the house, but plenty are happy to ride the next leg up with one finger on the eject button.

July 2025 doesn’t feel like a bubble or a blow-off top. It feels like an industry flexing its muscles in public again, after more training, to make the whole financial establishment stop and stare. By the way, it’s landed right before the U.S. inflation data release.

Monthly Average Bitcoin Prices Since $100K

Source: Bitget Academy, CoinMarketCap

So here we are: Bitcoin’s been above $100K for more than half a year, and the shock horror is that it’s still here. There were plenty of bumps, a few mild heart attacks, and at least three “is this the top?” memes per week. But the bigger story isn’t the price action. It’s that Bitcoin is now background noise for the entire global financial system. For all of us, it’s the reason to check the price at 2 a.m. “Just in case.”