Is this the start of another Buy The Rumor, Sell The News move for Bitcoin?

It’s actually quite striking that Bitcoin soared to $120,000 earlier this week, even before the US Congress voted on a series of laws that would make it easier for crypto companies to operate in the world’s largest economy. Will we thus see another “Buy the Rumor, Sell the News” movement within a few days, or otherwise known as a repeat of early 2024?

🔥 #Useful: #BTC rockets past $123K — Bulls losing ground#Bitcoin soared above the $123,000 mark, but that milestone immediately sparked an aggressive #selloff: #bulls’ dominance plunged, and the #longs vs. #shorts ratio slipped into negative territory for the first time.

📌… pic.twitter.com/SXdudFK6cB

— Bitsgap (@Bitsgap) July 15, 2025

BlackRock

Less than three years after Bitcoin plummeted to a value of $16,000 and the global press predicted the largest digital currency would hit $0 in no time (following the bankruptcy of FTX), crypto’s revival is a reality, with a new price record of around $122,000. Interestingly, just as in January 2024, Bitcoin jumped to that new record just before the US Congress voted on several bills to ease crypto trading (we’re talking about the Genius Act, the Digital Asset Market Clarity Act, and the Anti-CBDC Surveillance State Act).

All these laws are intended to make America the “crypto capital,” as President Donald Trump previously promised.

However, just as in 2024, when Bitcoin also rose sharply just before it was announced that BlackRock had been granted a license for a Bitcoin ETF, this record price also comes just before the crucial vote.

Does this mean we might see a “Buy the Rumor, Sell the News” move (in other words, Bitcoin rises in the weeks before the news becomes official and falls after it is confirmed) in the coming weeks, with whales cashing in their profits and the rest of us discovering where the new support line is located? Currently, the graph looks technically very positive, as long as we close above $105,000 daily.