Bitcoin Price Prediction: Will BTC Hit $120K in July? Can ETH Finally Catch Up?

A Perfect Political Storm for Crypto

Early July opened with BTC punching above $110K amid the second-largest short wipe-out of 2025. Meanwhile, ETH can’t seem to clear $2,600. The backdrop isn’t just chart-pattern hype—it’s an unprecedented mix of:

Monumental U.S. legislation (the “One Big Beautiful Bill”) barreling toward Trump’s desk
Elon Musk’s very public revolt against that bill
A fresh U.S.–China détente after Washington scrapped chip-software export curbs
Trump’s demand that Jerome Powell “resign immediately,” dangling the prospect of a radically different Fed
A dual Bitcoin-Ether ETF filing (75% BTC / 25% ETH) from Trump Media & Technology Group now moving through NYSE Arca

Put together, the macro-political narrative may matter as much as hash-rate or moving averages.

1 | $110 Million in BTC Shorts Vaporised

More than $110 million in bearish positions were liquidated within an hour as BTC broke $109K. Liquidations often snowball into “forced buys,” converting bearish leverage into spot demand—one reason bulls see $112K–$116K as the next target.

2 | Inside the “One Big Beautiful Bill” (OBBBA)

Size & Scope: Roughly $3.3 trillion in tax cuts, military spending, and border-security outlays, offset by deep cuts to healthcare and green-energy programs

Crypto Angle: Sections within the bill direct the Treasury to modernise payment laws and form a U.S. Strategic Bitcoin Reserve

Status: The bill has passed the Senate, with the House expected to finalise and send it to President Trump by July 4

Musk’s Rebellion

Elon Musk calls the bill “utterly insane and destructive,” warning it would kill millions of future-tech jobs and balloon the deficit. He’s even threatened to back primary challengers against Republican supporters of the bill.

Market Impact: If the bill is signed, bulls expect a "money printer go BRR" narrative to push Bitcoin higher. Musk’s lobbying may delay or soften the bill’s climate rollback sections—important for ETH-linked sustainability tokens.

3 | China Chip-Tax Rollback – Why Crypto Cares

The U.S. has officially lifted restrictions on exporting advanced chip-design software to China. This move is a major win for global tech collaboration and especially benefits companies behind Bitcoin mining infrastructure.

The rollback lowers the risk of supply-chain disruptions and helps keep mining costs stable, which is bullish for Bitcoin’s long-term price sustainability.

4 | Powell on the Hot Seat

Trump has directly called on Federal Reserve Chair Jerome Powell to resign, calling him “too late” to act on inflation and accusing him of hurting the economy.

A possible Powell resignation could signal a shift toward lower interest rates and looser monetary policy—both bullish for crypto markets.

Scenario Impacts:

If Powell stays → slower rate cuts → neutral to slightly bearish
If Powell exits and a pro-crypto or dovish replacement is named → sharp upside for BTC and ETH

5 | ETH – Still Lagging, But ETF Tailwind Ahead

Despite Bitcoin's dominance, Ethereum is trading flat around $2,600. However, momentum may build as Trump Media's dual Bitcoin-Ethereum ETF filing progresses.

The proposed structure allocates 75% to BTC and 25% to ETH, potentially driving institutional capital flows into Ethereum once approved.

If Powell exits or if the ETF gets greenlit, ETH could ride a second wave that narrows the BTC/ETH performance gap.

Bitcoin Price Prediction – Can BTC Print $120K in July?

Timeframe	Target	Rationale
Short-Term	$112K–$116K	Momentum plus lingering short interest
Mid-July	$120K	Legislation passage + institutional flows
End of July	$128K	Possible Powell resignation, ETF hype

BTC support lies around $107K, with $103K as a deeper level. Invalidation below $101K signals a false breakout.

Ethereum Price Prediction – Will It Finally Ride Shotgun?

Timeframe	Target	Catalyst
Short-Term	$2,650–$2,850	Follows BTC strength
Mid-July	$3,200	ETF decision window opens
End of July	$3,500	Powell exit + ETF approval + fresh inflows

Breaking above $2,950 could ignite rapid movement up to the $3,200 region.

Conclusion: Politics Is the New Hash-Rate

Bitcoin’s breakout above $110K isn’t just a technical story—it’s a geopolitical trade on legislation, central banking, and global cooperation. If Trump’s bill is signed and Powell steps aside, the market could enter a “risk-on” mode, driving BTC toward $120K this July.

Ethereum lags today but is well-positioned to follow, especially with a dual-asset ETF and shifting monetary policy on the horizon. In short, July could be the month politics propels crypto to its next milestone.

$BTC, $ETH, $Bitcoin, $Ethereum