#BTCReclaims120K #BTCReclaims122K

Bitcoin has surged to over $122,000, breaking through a critical resistance level and approaching new all-time highs in August 2025. The cryptocurrency's rapid ascent has triggered a wave of short position liquidations, with traders facing over $50 million in losses within a single hour as the market shifted abruptly.

Breaking Key Resistance Levels

Currently trading at approximately $118,081, Bitcoin has now surpassed the critical resistance zone of $119,000-$120,000 that analysts had identified as a potential short liquidation trigger point. This breakthrough has set the stage for further upward momentum, with total short positions worth nearly $18 billion now at risk of liquidation should the price continue its ascent.

The recent price action represents a significant recovery from early August when Bitcoin briefly dipped below $113,000, triggering $700 million in liquidations across the market. That temporary setback has now been completely reversed, with BTC reclaiming and surpassing its previous August 6 all-time high of $114,128.35.

Liquidation Domino Effect

The $50 million in short liquidations marks just the beginning of what could become a massive short squeeze. Market analysts warn that should Bitcoin reach $125,000, additional liquidation cascades are inevitable as more leveraged positions get swept up in the upward momentum. Data from the past 24 hours already shows $24.8 million in Bitcoin short positions being liquidated, indicating accelerating pressure on bearish bets.

Institutional Confidence and Price Predictions

Institutional adoption continues to strengthen, with Bitcoin treasuries projected to reach 1.86 million BTC by August 2025, providing fundamental support for the current price surge. This institutional confidence has fueled increasingly optimistic price targets, with some analysts now predicting Bitcoin could reach $130,000 in the near term.

The broader market sentiment remains overwhelmingly bullish, with most crypto analysts forecasting continued upward momentum throughout August. Some more aggressive predictions suggest Bitcoin could push toward $140,000 or even higher if current buying pressure sustains.

Technical Outlook

Key resistance levels now sit at $122,000 (recently breached) and $128,500, while support has been established at $112,000 and $106,000. With the market demonstrating resilience against previous liquidation events, many traders are positioning for what could become one of Bitcoin's most significant bull runs in its history.

As the cryptocurrency continues to break through psychological price barriers, all eyes are on whether this momentum can be sustained through the remainder of August 2025, potentially setting new records that would cement this period as a defining moment in Bitcoin's price history.