BTC Aims for $132K Mark After Upholding $118K Price floor, Top Cryptocurrency to Purchase Now as M2 Money Circulating supply Reaches All-Time High
Despite the recent turbulent trading market conditions, BTC has remained steady above the $118,000 level and is presently priced at $118,204.60. Could this be the prime cryptocurrency to consider purchasing as the market prepares for another optimistic phase?
Many traders believe it might be. BTC has managed to shake off the selling pressure and the slight retracements observed last week, and the upcoming target could be in the range of $127,000 to $132,000. Nonetheless, it is wise to proceed with caution, as the trading market is known for its sudden reversals.
(BTCUSD)
Investors are closely monitoring BTC and speculating whether it will experience another breakout or succumb to price swings.
Based on my analysis, during the 2020 Fed rate reductions, Bitcoin’s price surged by roughly 50% in the subsequent 6 months, while Ethereum saw an increase of about 30%.
— Juan José Francisco(
)(✧ᴗ✧) (@jjframac) July 27, 2025
For prospective investors, the advice is to hold off for a significant breakout before placing bets on the leading cryptocurrency.
Global M2 Money Supply Has Reached An ATH. Is BTC The Best Crypto To Buy Now?
With the global M2 money supply hitting an all-time high, discussions on X and Reddit are centered around the possibility of a widespread crypto bull run. As a more comprehensive measure of market fluidity, M2 encompasses physical currency, checking accounts, savings and deposits, money crypto market assets, and other near-cash resources.
While M1 exclusively measures transactional money, M2 encapsulates funds readily accessible for investments, thereby serving as a crucial gauge of global market fluidity and inflationary pressures.
The current increase in M2 is directly linked to renewed government stimulus initiatives and available volume measures, including quantitative easing programs.
A brief review of historical data reveals a strong correlation between M2 growth and rising asset prices, as excess liquidity stimulates demand across stocks, real estate, and crypto.
Disregard the distractions. Pay attention to the liquidity.
This is promising for #Bitcoin and the trading market. pic.twitter.com/d72ghSG6G6
— Crypto Auris (@crypto_auris) July 26, 2025
BTC has historically exhibited a strong association, ranging from 0.65 to 0.89, with M2 growth and frequently lags available volume shifts by 12 to 90 days. This suggests that as fiat purchasing power declines, there is an increased market demand for scarce, inflation-resistant assets like Bitcoin.
For instance, the stimulus measures during the pandemic caused the global M2 to soar by 25% from 2020 to 2021, coinciding with BTC’s rise from $10,000 to nearly $69,000, highlighting how fixed-supply assets attract speculative investments amidst available volume surges.
The recent surge in M2 has traders eyeing the $150,000 mark as the next potential BTC uptrend target.
Explore: Top New Cryptocurrencies to Invest in 2025
Pudgy Penguins Denies OpenSea Acquisition
Speculations ran rampant on social media with users suggesting that Pudgy Penguins had acquired the NON-FUNGIBLE TOKEN marketplace OpenSea. This speculation arose after X users discovered an October 2024 post where the CEO, Luca Netz, expressed interest in purchasing OpenSea.
Community members speculated that a behind-the-scenes agreement for OpenSea’s acquisition might have taken place as early as December 2024.
Beau, the Head of Protection at Pudgy Penguins on July 26, 2025, countered the claims via a post on X, asserting, “Pudgy Penguins didn’t buy OpenSea… chill.”
He further remarked, “Discussions about partnering with Lufthansa and NASCAR, and going out to find the next remarkable brand for us to collaborate with.”
I believe there is far more value in promoting the confirmed happenings!
I don’t actually believe that acquiring OS at this moment would make much sense for us.
— Beau (@beausecurity) July 26, 2025
The entertainment firm has bolstered its brand through recent partnerships with NASCAR and Lufthansa. It has also ventured into Web3 gaming with the debut of Pengu Clash, a skill-based mini-game built on TON (The Open Protocol) blockchain.
Explore: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025
Gallup Survey Finds No Takers For Crypto In The US
As per Gallup’s June 2025 survey, released on 22 July 2025, only 14% of adults in the US own digital currency, while 60% do not plan to invest in it. Since 2021, there has been an increase in this asset class. However, it still remains a niche investment for most, hindered by its perceived risks and limited comprehension.
— Mlion Crypto Announcement (@MlionNews) July 27, 2025
Crypto asset ownership is most prevalent among men under 50, with one in four identifying as crypto investors. Additionally, higher adoption rates are observed among college graduates, upper-income individuals, and political conservatives.
However, mere interest is insufficient, as only 4% of Americans intend to invest soon.
Moreover, among traditional investors, such as those with at least $10,000 in financial assets, crypto ownership has risen to 17% from 6% in 2021, with 64% of them stating they will never invest in crypto, up from 58% previously.
ETH Or BTC: Who Is Dominating The Crypto Chart This Week?
This week’s market shows a uptrend trend, with total capitalization reaching $3.82 trillion. Furthermore, a Fear and Greed Index indicates greed-driven trading as most assets display gains.
Bitcoin exhibited slight movement, trading around $117,400 at the start of the week on July 21, 2025, and is now at $118,256, showing only a small increase throughout the week.
Nonetheless, there were some remarkable fluctuations between July 22 and 23, 2025, where BTC peaked at $120,200 before declining to a low of $115,000 on July 25, 2025.
Ethereum (ETH) is capturing substantial attention, soaring 50% in the last month and approaching its January peak. Companies are increasingly incorporating ETH into their balance sheets, and some analysts anticipate that if it breaks above $4,000, it could trigger significant price discovery and institutional interest pic.twitter.com/i3LXdMuRkp
— S. Prommalaphanunt (@Zineiiz00) July 27, 2025
Ethereum performed better, rising 9% to $3.85k early in the week, before retracting to $3.75k, representing a net increase of 5%. This uptick aligned with higher US Spot ETH ETF inflows and growing institutional buyer interest, pushing ETH to a seven-month high.
Explore: Next 1000X Crypto: 10+ Crypto Tokens That Could Surge to 1000x in 2025
The post Bitcoin Aims for $132K Milestone After Maintaining $118K Support, Top Crypto to Buy Now as M2 Money Supply Reaches ATH appeared first on 99Bitcoins.
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