Bitcoin just hit $120,000 for the first time ever early Friday, before sliding slightly to around $117,297.10 by the afternoon.

Is Bitcoin's rally the real deal or just another short-lived spike? Find out what's powering the world's biggest crypto higher right now.

According to the live chart, the monthly average for inflows was 5.39k BTC, and the daily average was at 3.19k BTC. Usually, inflows represent an intent to sell. The low inflows to the largest exchange indicated unwillingness to sell Bitcoin, pointing towards strong holder conviction.

Bitcoin’s rally to new highs was driven by long-term accumulators and spot inflows, suggesting that BTC’s next milestone price is in the $130,000 range.

On July 7, the miner announced that it has recorded a rise of 18% in monthly Bitcoin production in June. Thanks to the firm successfully running the Phase 1 infrastructure at the new 100 megawatt (MW) facility in Yguazú, Paraguay, HIVE mined 164 Bitcoin in June. In contrast, the firm mined 139 Bitcoin in May.

Riot Platforms saw its share prices increase by 5.79 percent on Wednesday to close at $12.24 apiece following an investment firm’s bullish recommendation for its stock, while tracking the all-time

Research head of research Markus Thielen points out three factors that may push Bitcoin’s price to new highs by the end of July.

The company will use a combination of American depositary shares, warrants, and convertible debentures to raise the funds.

As Bitcoin (BTC) sparks fresh interest with a potential 30% rally fueled by whale accumulation, a quieter but more better coin is emerging in the crypto market this July, Mutuum Finance (MUTM). The token is now in presale,