According to data from Farside, BlackRock’s IBIT Bitcoin (BTC) ETF has purchased more than $1.3 billion worth of BTC on July 10 and July 11. The big purchases align with BTC’s recent rally to a new all-time high. The original crypto has hit multiple all-time highs over the past few days.

Bitcoin Breaches $120,000 For The First Time Amid BlackRock’s Big Purchases

Bitcoin (BTC) hit a new all-time high of $122,838 earlier today, July 14, 2025. BTC’s recent upswing is likely due to the consistent inflows into ETF financial vehicles. BlackRock and other global financial institutions seem to be going all in on the budding industry.

BTC’s rise to a new all-time high has triggered a market-wide rally. While BTC is hitting a new peak every few hours, other assets are yet to register new all-time highs. Ethereum (ETH) has breached the $3000 mark, but is still down by more than 37% from its all-time high of $4,878.26. BTC seems to be the only asset testing new peaks at the moment.

Will The Rally Continue?

The crypto market has experienced quite a few bullish developments over the last few months. The pro-crypto administration in the US is the single most significant development for the crypto industry over the last few years. The SEC also has a pro-crypto candidate at its helm. The financial watchdog is expected to take a more lenient stance on the crypto industry, compared to outgoing head Gary Gensler.

There is a chance that the crypto market will face a correction over the coming months. Historically, Bitcoin (BTC) has faced a correction after a little more than a year from its previous halving. We could expect a price dip later this year.

Also Read: Bitcoin To End 2025 at $145,000

Another reason we could face a correction is that retail players are yet to awaken. The Federal Reserve’s decision to keep interest rates unchanged may have led retail investors to stay away from risky assets. A rate cut may further boost the current market rally.