Changpeng Zhao Reflects on Bitcoin’s Early Milestone as Price Surpasses $121,000

• Bitcoin tops $121K as volume jumps 153%, signaling strong market participation.
• CZ recalls BTC’s $1K milestone, now less than 1% of current price.
• Institutional inflows and U.S. crypto policies fuel Bitcoin’s upward momentum.

Binance founder Changpeng Zhao has reflected on Bitcoin’s long-term growth, sharing a post on X that revisits his early investment experience. Zhao said he purchased Bitcoin in 2014 and waited three years to see it reach $1,000 in early 2017, a move that the crypto community at the time considered huge. He pointed out that what was once seen as a major peak now represents less than 1% of Bitcoin’s current value, offering historical context amid the coin’s latest price surge.

Bitcoin reached a new high during the time of writing, climbing to $121,776.18 after gaining 3.36% in the past 24 hours. The move followed a rally that began late on July 13 and continued through early morning trading. Price action showed a climb from below $118,000 to a peak above $122,500 before a minor pullback.

According to CoinMarketCap, Bitcoin’s market capitalization increased to $2.42 trillion. Additionally, the trading volume surged 153.6% over the same period, reaching $107.4 billion. This raised the volume-to-market cap ratio to 4.46%, indicating elevated investor activity. The fully diluted valuation (FDV) now stands at $2.55 trillion. Circulating supply has reached 19.89 million BTC, moving closer to the 21 million cap set by the protocol.

Bitcoin’s price began rising around 4:00 PM UTC on July 13. A breakout occurred just after 6:00 AM UTC on July 14, pushing the coin beyond $121,000. Resistance remains near the $123,000 level, while support is seen around $120,000 based on recent trading behavior. Short-term price movements show strong buying pressure and minimal downside during the climb. The chart structure reflects bullish sentiment, with key support levels intact.

Institutional Participation and U.S. Policy Developments Drive Sentiment

Recent gains have been aided by strong institutional inflows. The data indicates that retail participation and professional investor participation increased. This increase in volume indicates the continued interest in various market segments.

This has also been contributed by regulatory developments in the U.S. The Trump administration has developed some programs that are considered to be friendly to digital assets. Among them, Trump Media & Technology Group has recently planned to introduce a crypto-oriented exchange-traded fund (ETF), which coincided with renewed market optimism.