Bitcoin Breaks $120K as Crypto Week Kicks Off in Washington

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 15 July 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin starts the week by smashing through $120,000, triggering a wave of excitement on crypto Twitter and in traditional finance alike. NLW breaks down the immaculate vibes, the record ETF inflows, and how institutional capital is finally moving with urgency. Meanwhile, Washington launches its most ambitious legislative push on crypto to date, with stablecoins leading the charge and opposition intensifying. From BlackRock’s record-breaking ETF to Grayscale’s legal showdown with the SEC, and from Trump’s crypto ties to the global monetary backlash against U.S. stablecoins—this is one of the most pivotal weeks yet in Bitcoin’s history. Sources: ⁠https://www.coindesk.com/opinion/2025/07/07/without-operational-alpha-bitcoin-treasury-company-premiums-will-collapse⁠ ⁠https://www.bloomberg.com/opinion/articles/2025-07-09/bitcoin-buying-and-coffee-are-too-frothy-a-mix?sref=qUxVp6JU⁠ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.3	What's going on, guys? It is Monday, July 14th, and today we are talking about Crypto Week
0:23.1	getting underway in Washington as Bitcoin sits at all-time highs. Before we get into that,
0:27.9	however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a
0:31.4	review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord.
0:36.0	You can find a link in the show notes or go to bit.ly slash breakdown pod. Well friends, Crypto Week is getting underway in Washington, but on
0:42.4	crypto Twitter, this is Bitcoin Week. Bitcoin spent the entire weekend, trading above 117,000,
0:48.1	giving absolutely no dips to buy into. As futures markets opened on Sunday night, Bitcoin took
0:52.8	off again. It blew past 120,000 to reach
0:55.8	123,000 early on Monday morning, and we're currently trading at around 121,500, and the vibes are
1:01.9	immaculate. Calayo tweeted, clean break above 120K. The real bull market is finally here, fellas.
1:08.4	Bitcoin Jack was amazed he's getting rewarded for buying the top,
1:11.2	asking, how much longer do they let me get away with buying at market? The chart is now at a point
1:15.7	of long-term resistance that traces through the tops of the last two bull markets. Bitcoin has
1:20.0	reached the same market cap as Amazon, with Apple next in line and another 30% higher. The timeline
1:25.3	is euphoric for good reason, but we are starting to see the first
1:28.0	signs of broader recognition that something big is happening. Bitcoin Google search trends are
1:32.2	moving up for the first time all cycle, defying the assumption that Signal has gone bad.
1:36.5	Joe Wisenthal, host of Odd Lots, is calling out the daily moves, writing Bitcoin going nuts again.
1:41.6	Internet troll Ian Miles Chong has put on a malady pfp. Bitcoin fear and greed
1:45.9	is jammed even further in the greed direction. Ultimately, no one is watching out for top signals yet,
	...

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