Bitcoin All-Time High Reached At Over $120K

Key Takeaways

• Bitcoin All-Time High achieved at $120,000 on Coinbase
• BlackRock’s IBIT ETF now holds over 700,000 BTC, with $83B AUM
• Long-Term Holder NUPL remains below overbought levels at 0.69
• Daily transactions increased to 364,000, showing no signs of panic selling
• Accumulator wallets now hold a record 250,000 BTC for 2024

Institutional Demand Leads The Charge

At 2:47 am UTC on July 14th, Bitcoin hit a fresh milestone, tapping $120,000 on Coinbase. This marks a 13% gain for the month and positions BTC to close its third consecutive green monthly candle, reflecting continued market strength.

BTC/USD – July 14th, 2025

Source: TradingView

BlackRock’s IBIT ETF Hits $83B AUM

One of the primary catalysts behind this new Bitcoin all-time high price is the rapid growth of BlackRock’s spot Bitcoin ETF (IBIT), which now boasts over 700,000 BTC in assets under management. The ETF has tripled its AUM in just 200 trading days, reaching a staggering $83 billion, a feat that took GLD, the gold ETF, over 15 years.

IBIT is officially now the 21st largest ETF overall, surpassing MicroStrategy’s Bitcoin holdings by nearly 100,000 BTC.

Long-Term Holders Remain Confident

NUPL Indicates Room For Growth

Despite this new Bitcoin all-time high, the Long-Term Holder Net Unrealized Profit/Loss (NUPL) metric remains at 0.69, well below the 0.75 threshold typically associated with overheated markets. This indicates that long-term investors are not yet aggressively taking profits, leaving room for more upside.

In the previous bull cycle, NUPL stayed above 0.75 for 228 days. This cycle? Just around 30 days, suggesting more growth could be on the horizon.

Transaction Volumes Are Up, No Panic Selling

Bitcoin’s daily transactions have increased from 340,000 to 364,000 in recent days. However, these numbers still sit below the 530,000–666,000 range seen during prior market tops, a sign that the market is growing steadily without signs of euphoria or panic selling.

Source: CryptoQuant

Data from CryptoQuant shows that accumulator wallets, those that consistently acquire BTC without significant selling, now hold over 250,000 BTC, the highest level of the year.

FAQ

What is the current Bitcoin all-time high?

The current Bitcoin All-Time High is $120,000, reached on Coinbase on July 14th, 2025.

Is Bitcoin in a market bubble?

On-chain data suggests Bitcoin is not in a bubble yet, as long-term holders are not aggressively taking profits and market euphoria remains subdued.

What is NUPL and why is it important?

NUPL (Net Unrealized Profit/Loss) measures the profit margin of long-term holders. Levels above 0.75 typically signal market overheating. Currently, NUPL is at 0.69, indicating potential for further upside.