Advertise
- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 07, 2025 04:05 UTC
-
Crypto News Today: Bitcoin Hits Record Weekly Close, Next Stop $112K?
Bitcoin hits a record weekly close at $109,200, signaling strong bullish momentum ahead of key $112K resistance.
Crypto markets eye U.S. Congress’ Crypto Week on July 14, as BTC eyes breakout and institutions await regulatory clarity.
Bitcoin just made history by closing the week at $109,200, its highest weekly close ever. This is a strong sign that the bull market is still going strong, despite recent ups and downs in the crypto market.
For months, some experts predicted the market was heading for a long downturn. But the charts and market signals continued to show strength. Important support levels held firm, large investors kept buying, and overall market liquidity kept rising.
What’s Happening Now?
At the moment, Bitcoin is trading around $109,428. The market has been moving sideways for the past few days, with Bitcoin bouncing between important price zones. To start a new upward rally, the price needs to break past $112,000. If that happens, Bitcoin could enter price discovery mode, where new record highs are possible.
The price indicators show there’s still room for growth, and Bitcoin’s momentum remains positive. While the market isn’t likely to jump straight to new highs overnight, a steady climb is expected, followed by periods of correction and consolidation.
Key Price Levels to Watch
- Resistance: $110,000 to $112,000
- Support: $103,000 to $105,500
As long as Bitcoin stays above its support levels, the market remains in a healthy position. A break above $112,000 could open the doors to the next big rally.
Why This Matters Now
This strong weekly close comes at an important time. The U.S. Congress is preparing for Crypto Week starting July 14, where important crypto laws and market rules will be discussed. These decisions could bring new clarity for crypto markets and attract large amounts of money from investors.
Many expect a possible rally in late July, a dip in August, and another strong move in September or October.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
FAQs
As of July 7, 2025, the global crypto market cap is around $3.3 trillion, showing mixed performance. Bitcoin is consolidating near $109,000 after a record weekly close, while the broader market sees varied movements, with some altcoins gaining and others experiencing short-term declines.
The crypto market is not primarily facing a bearish trend as of July 7, 2025. While short-term consolidation and minor pullbacks are occurring, the overall sentiment remains cautiously bullish. Bitcoin’s record weekly close and growing institutional investment indicate a sustained upward trajectory, though volatility is still present.
Yes 
No 
