Bitcoin Targets $132K Milestone After Defending $118K Support, Best Crypto To Buy Now As M2 Money Supply Hits ATH

Notwithstanding the recent choppy market, Bitcoin has held steady above the $118,000 mark and is currently trading at $118,204.60. Could this be the best crypto to buy now as the market gears for another bull run?

Speculators tend to think so. BTC has brushed off the selling pressure and the minor pullbacks that we witnessed last week, and the next target could be somewhere between the $ 127,000 and $132,000 mark. However, caution should be exercised, as the crypto market has been known to make sudden 180-degree turns.

BTC USD Price Chart

(BTCUSD)

Investors have been watching the BTC carefully and speculating whether the BTC will have a breakout moment again or buckle under volatility.

According to my analysis, during the 2020 Fed rate cuts, Bitcoin’s price increased by approximately 50% in the following 6 months, while Ethereum’s price increased by around 30%.

— Juan José Francisco()(✧ᴗ✧) (@jjframac) July 27, 2025

For those interested in investing, the mantra should be to wait for a good breakout before betting on the crypto king.

Global M2 Money Supply Has Reached An ATH. Is Bitcoin The Best Crypto To Buy Now?

With the global M2 money supply reaching an all-time high, many on X and Reddit are debating the notion of a broader crypto bull run. As a broader measure of liquidity, M2 includes physical currency, checking account balances, savings and deposits, money market instruments and other near-cash assets.

While M1 strictly measures transactional money, M2 scopes money that is readily available for investments, therefore acting as a key indicator of global liquidity and inflationary pressure.

The current increased M2 is directly correlated to renewed government stimulus efforts and liquidity injections, including quantitative easing programs.

A quick look at historic data reveals a clear link between M2 growth and climbing asset prices as excess liquidity drives demand across stocks, real estate and crypto.

Global M2 money supply just hit a new ATH!

Ignore the noise. Follow the liquidity.

This is bullish for #Bitcoin and crypto. pic.twitter.com/d72ghSG6G6

— Crypto Auris (@crypto_auris) July 26, 2025

BTC has historically shown a strong correlation, ranging from 0.65 to 0.89, with M2 expansion and often trails liquidity shifts by 12 to 90 days. This indicates that as fiat purchasing power declines, investor demand rises for scarce, inflation-resistant assets like BTC.

Case in point, the pandemic-era stimulus helped global M2 surge by 25% between 2020 and 2021, which coincided with BTC’s ascent from $10,000 to almost $69,000, underscoring how fixed-supply assets attract speculative capital when up against liquidity overflows.

Source

The latest spike in M2 has speculators circling the $150,000 mark as the next potential BTC bull target.

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5 hours ago

Pudgy Penguins Denies OpenSea Acquisition

By Arijit Mukherjee

Speculations were rife on social media with users claiming that Pudgy Penguins had acquired the NFT marketplace OpenSea. This came about after X users unearthed an October 2024 post where its CEO, Luca Netz, shared his intent to buy OpenSea.

Community members speculated that there might have been a behind-the-scenes deal as early as December 2024 for the acquisition of OpenSea.

Beau, the Head of Security at Pudgy Penguins on 26 July 2025, pushed against the narrative via a post on X, stating, “Pudgy Penguins didn’t buy OpenSea… chill.”

He further added, “Talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with.”

I think there is a lot more value in bullposting the things that are confirmed happening!

I don’t actually think acquiring OS rn would make a lot of sense for us.

— Beau (@beausecurity) July 26, 2025

The entertainment company has enhanced its brand presence with recent collaborations with NASCAR and Lufthansa. It also ventured into Web3 gaming with the launch of Pengu Clash, a skill-based mini-game built on TON (The Open Network) blockchain

Explore: 9+ Best High-Risk, High-Reward Crypto to Buy in July 2025

5 hours ago

Gallup Survey Finds No Takers For Crypto In The US

By Arijit Mukherjee

According to Gallup’s June 2025 survey, published on 22 July 2025, just 14% of US adults own cryptocurrency, while 60% have no intention of buying. Since 2021, there has been an uptick in the asset class. However, it remains a fringe investment for the majority, handicapped by its risk perception and low understanding.

Gallup Survey: 14% of U.S. Adults Own Cryptocurrency, 60% of Surveyed Individuals Unlikely to Purchasehttps://t.co/VErsClo8ip News, A Gallup survey (-15) % of US adults own cryptocurrency, yet the majority aren’t keen on buying. While digital asset ownership has risen…

— Mlion Crypto News (@MlionNews) July 27, 2025

Crypto ownership is highest among men under 50, with one in four reporting their crypto investment. Furthermore, higher adoption is seen among college graduates, upper-income earners, and political conservatives.

However, interest alone is not everything since only 4% of Americans plan to invest soon.

Additionally, among the traditional investors, such as adults with at least $10,000 in financial assets, crypto ownership rose to 17% from 6% in 2021, with 64% of them claiming they will never invest in crypto, up from 58% previously.

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6 hours ago

ETH Or BTC: Who Is Dominating The Crypto Chart This Week?

By Arijit Mukherjee

The crypto market this week is pretty bullish, pushing the total capitalisation to $3.82 trillion. Also, A Fear and Greed Index highlights greed-driven trading as most assets flash green.

BTC saw modest movement, closing around $117,400 at the start of the week on 21 July 2025 and is currently at $118,256, marking only a modest gain over the week.

However, there were a few notable exceptions between 22 – 23 July 2025, where BTC touched $120.200, before dropping down to a low of $115,000 on 25 July 2025.

Ethereum (ETH) is gaining significant attention, surging 50% in the past month and nearing its January high. Companies are increasingly adding ETH to their balance sheets, and some analysts predict a break above $4,000 could lead to major price discovery and institutional demand pic.twitter.com/i3LXdMuRkp

— S. Prommalaphanunt (@Zineiiz00) July 27, 2025

ETH fared better, climbing 9% to $3.85k early in the week, before pulling back to $3.75k, marking a net gain of 5%. This surge coincided with increased US Spot Ethereum ETF inflows and rising institutional demand, driving ETH to a seven-month high.

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The post Bitcoin Targets $132K Milestone After Defending $118K Support, Best Crypto To Buy Now As M2 Money Supply Hits ATH appeared first on 99Bitcoins.

Bitcoin Targets $132K Milestone After Defending $118K Support, Best Crypto To Buy Now As M2 Money Supply Hits ATH