Over the past four years, Bitcoin has ridden a volatile roller‑coaster: after trading around $30,000 in mid‑May 2021, it surged to all‑time highs of roughly $65,000 in April and $66,975 in October 2021. This rally gave way to a steep bear market starting January 22, 2022, prices had plunged below $35,000 and by June 18, 2022, hit an 18‑month low of $17,769.
The collapse of FTX (Btw we predicted crypto rising from the ashes) in late November 2022 drove Bitcoin down further to around $16,216. Throughout 2023, Bitcoin oscillated between $20,000 and $30,000, briefly dipping near $25,370 at the end of August CoinDesk.
What’s really fueling Bitcoin’s insane rally?
Renewed institutional interest and the approval of U.S. spot Bitcoin ETFs propelled a recovery, pushing the price above $103,332 on December 4, 2024 and spurring a fresh all‑time high in March 2024 of about $73,679 amid ETF‑driven inflows.
This momentum culminated in mid‑July 2025, when Bitcoin soared to a new record high of $123,153.22 on July 14, 2025 Reuters, illustrating the asset’s extraordinary boom‑and‑bust cycles.
Breakdown of Cyclical Anomalies & Key Price Movements
- Mid‑2022 Bear Market Bottom
After a series of regulatory crackdowns and macro tightening, Bitcoin fell to a low of $17,592.78 on June 18, 2022, marking the start of a protracted bear phase. This was further exacerbated by the collapse of FTX in November 2022, when prices briefly dipped to around $16,000. - Summer 2022 Recovery & Range‑Trading
In July 2022, Bitcoin rebounded over 20% from its June lows, climbing back above the $20k level. However, through late 2022 and early 2023, it largely traded sideways between $20k and $25k as investors digested the broader “crypto winter.” - August 2023 Local Trough
Amid a broader risk‑off in global markets, Bitcoin hit a fresh two‑month low of $26,172 on August 18, 2023 before snapping back. This swing highlighted how external shocks (e.g., equity sell‑offs) still drove short‑term price shocks. - Year‑End 2023 Bull Surge
Toward the end of 2023, growing optimism around U.S. spot Bitcoin ETFs and an anticipated “halving” (which historically leads to supply shocks) fueled a rally. On December 4, 2023, Bitcoin touched $42,162, its highest level since April 2022. - March 2024 All‑Time High
Following SEC approval of multiple spot Bitcoin ETFs in January 2024, Bitcoin broke its November 2021 record, surging to $72,739 on March 11, 2024 as institutional inflows accelerated. - Mid‑2024 Correction & Consolidation
After that parabolic run, Bitcoin underwent a classic post‑cycle correction, retracing roughly 20–30% by mid‑2024, as traders realized gains and macro uncertainties persisted. - July 2025 Record Peak
Buoyed by ongoing regulatory clarity (e.g., key crypto bills advancing in Congress) and a favorable Fed interest‑rate outlook, Bitcoin set a fresh all‑time high of $123,153.22 on July 14, 2025.
