Bitcoin Nears $118,500 as Bulls Eye $120K Breakout
The crypto market started the week with Bitcoin ($BTC ) holding firm near the $118,500 mark, testing a key resistance zone as bullish momentum continues to build. The world’s largest cryptocurrency touched an intraday high of $118,919 before retracing slightly, maintaining a steady upward trajectory.
BTC Price Action & Momentum
After rebounding to a 10-day high, Bitcoin is now consolidating within the $118K–$118.5K range. Analysts suggest that a successful breakout above this resistance could pave the way toward $119K–$120K, a level not seen in weeks. Investor sentiment remains cautiously optimistic, with institutional inflows continuing to support the rally.
Market Sentiment & Risks
While momentum indicators still point toward a bullish trend, some on-chain metrics show a cooling effect, hinting at a possible short-term consolidation phase. Economist Henrik Zeberg warned that Bitcoin’s strength is currently tied closely to the Nasdaq’s performance—meaning any sudden downturn in equities could trigger a pullback in crypto markets.
Key Market Developments
White House Crypto Policy Shift
Bo Hines, Executive Director of the White House Crypto Advisory Council, resigned after seven months in office. The move has raised questions about the future direction of U.S. crypto regulation and policy.
Stablecoin Market Surpasses $270B
The total market value of stablecoins has crossed $270 billion, reinforcing their growing role in trading, payments, and DeFi ecosystems.
Venture Capital Fuels New Crypto Sectors
Major VC firms are channeling funds into AI-integrated blockchain projects and DePIN (Decentralized Physical Infrastructure Networks). These sectors are expected to be major growth drivers for the remainder of 2025.
Presales Attract Investor Attention
August has seen a surge in high-profile presales, including Vault AI and Bitcoin Hyper, with investors eyeing their innovative governance models and tokenomics.
Altcoins Gaining Ground
Despite Bitcoin’s dominance, several altcoins are outperforming, driven by strong fundamentals and real-world adoption cases.
Outlook
If Bitcoin breaks past the $118,500 resistance, the next psychological barrier at $120,000 will be in sight. However, traders are urged to watch for macroeconomic triggers, particularly stock market trends, which could influence short-term price action.
BTC Price Action & Momentum
After rebounding to a 10-day high, Bitcoin is now consolidating within the $118K–$118.5K range. Analysts suggest that a successful breakout above this resistance could pave the way toward $119K–$120K, a level not seen in weeks. Investor sentiment remains cautiously optimistic, with institutional inflows continuing to support the rally.
Market Sentiment & Risks
While momentum indicators still point toward a bullish trend, some on-chain metrics show a cooling effect, hinting at a possible short-term consolidation phase. Economist Henrik Zeberg warned that Bitcoin’s strength is currently tied closely to the Nasdaq’s performance—meaning any sudden downturn in equities could trigger a pullback in crypto markets.
Key Market Developments
White House Crypto Policy Shift
Bo Hines, Executive Director of the White House Crypto Advisory Council, resigned after seven months in office. The move has raised questions about the future direction of U.S. crypto regulation and policy.
Stablecoin Market Surpasses $270B
The total market value of stablecoins has crossed $270 billion, reinforcing their growing role in trading, payments, and DeFi ecosystems.
Venture Capital Fuels New Crypto Sectors
Major VC firms are channeling funds into AI-integrated blockchain projects and DePIN (Decentralized Physical Infrastructure Networks). These sectors are expected to be major growth drivers for the remainder of 2025.
Presales Attract Investor Attention
August has seen a surge in high-profile presales, including Vault AI and Bitcoin Hyper, with investors eyeing their innovative governance models and tokenomics.
Altcoins Gaining Ground
Despite Bitcoin’s dominance, several altcoins are outperforming, driven by strong fundamentals and real-world adoption cases.
Outlook
If Bitcoin breaks past the $118,500 resistance, the next psychological barrier at $120,000 will be in sight. However, traders are urged to watch for macroeconomic triggers, particularly stock market trends, which could influence short-term price action.
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BTC
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