On the morning of 14 July 2025 Bitcoin burst through $120 000. The assault on this psychological height was not followed by a pull-back, and the cryptocurrency kept moving higher. While Bitcoin is rising, members of the crypto community are guessing when the coin will pause. Understanding the possible horizon lets traders lock in profit on time.
The Quickex editorial team analyzed BTC’s position and gathered Bitcoin forecasts from the community. We explain when the bull-run of the most-capitalized cryptocurrency may end and what levels the coin can reach.
Bitcoin trades above $120 000 for the first time
Bitcoin began the new work-week by renewing its all-time high. At its peak the coin touched $123 091. At the moment of writing, the cryptocurrency had eased slightly to $122 201.
Chart of Bitcoin. Source: TradingView
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Other coins mirrored Bitcoin’s dynamics. At the time of writing, the best 24-hour result in the top-100 was shown by Pudgy Penguins (+21.13 %).
Is there fuel for further growth?
Bitcoin’s bull-run is built on a number of factors.
First — relatively favorable geopolitical conditions. Even though Trump is still waging his tariff war, the financial market, judging by its muted reaction, has already recovered from the shock. Recall that in April 2025, at the height of the tariff war, Bitcoin fell to $76 000. The latest round of confrontation did not pressure the coin. No other geopolitical headwinds are apparent for now.
Second — expectations of a Fed funds rate cut. Community members are convinced the regulator will start lowering the rate in September 2025. Such changes are positive for high-risk assets like crypto: cheaper money lets liquidity flow into the sector. History shows BTC and altcoins rally hard in such periods.
Third — central banks keep printing money, as the global M2 data confirm. Experience shows that some of this freshly created cash settles in the crypto industry. While the presses are running, crypto-investors can count on a rising market.
Comparison of Bitcoin behavior against changes in global liquidity. Source: charts.bgeometrics
Interesting! Observations show Bitcoin follows M2 with a slight delay: liquidity does not enter crypto immediately. This lag lets community members predict Bitcoin’s moves using already known changes in global liquidity.
Fourth — the market shortage of bitcoins keeps deepening. Every BTC halving creates a supply deficit that pushes the price to fresh highs. Exchange reserves are now at record lows: supply cannot keep up with demand, giving the coin power for further growth.
Bitcoin exchange balances. Source: CryptoQuant
Fifth — expectations that Trump’s pro-crypto plans will be enacted. US authorities are working on several initiatives to make regulation clearer and turn America into the world’s crypto capital: forming a Bitcoin reserve, drafting rules for stablecoins, and more. Trump has repeatedly spoken positively about crypto’s potential, so his rhetoric could become another driver of the bull-run.
We have shown that BTC still has room to rise. Now we need to see when the bull-run might end. Looking at previous cycles, BTC typically sets its cycle top about 18 months after a halving. If history rhymes, a new all-time high could come in autumn 2025.
Bitcoin movement by cycle after halving. Source: bitcoincyclescomparison
Note that the post-2024 halving cycle differs markedly from earlier ones because of institutional interest. Large allocations can dampen volatility, extend the growth phase by holding more coins off-market, and perhaps soften the next crypto winter. Many investors doubt we will ever again see 70 – 80 % drawdowns.
Bitcoin forecasts from the crypto community
Many community members believe BTC still has every chance to rise. Industry figures share their views on X. Analyst MartyParty believes Bitcoin will reach $140 000 by September, citing a breakout from a Wyckoff accumulation pattern plus supportive M2 metrics.
weRate Official co-founder Quentin Francois is even more optimistic. He believes the M2 trajectory could pull Bitcoin above $200 000, and he does not rule out reaching that level by September–October 2025.
Many crypto folk are convinced that rising global liquidity will be the main engine of BTC’s ongoing bull-run.
Analyst Michaël van de Poppe also expects $150 000 in Q3 2025.
Wrapping up
Analysis of Bitcoin’s position points to continued upside potential. From a market-cycle standpoint, the coin could set an all-time high in autumn 2025. Many crypto-experts agree, seeing expanding global liquidity as the main driver of the bull-run.
Earlier, the Quickex team explained how fresh US inflation data, due out on 15 July 2025, could affect Bitcoin’s behaviour.