August 11, 2025 Bitcoin Market Analysis

Last week was a great time for Bitcoin and Ethereum! Bitcoin hit 5600 points, while Ethereum gained at least 300 points. The market is hot, with Bitcoin and Ethereum performing excellently, and the winning streak continues this week!

Today, Bitcoin surged to $121,000, with an intraday increase of nearly 4%, reaching a new high since July 18. Ethereum broke through $4300, driving the total market capitalization of the entire cryptocurrency market to surpass $4 trillion for the first time.

Technical Breakthrough at Key Levels

After Bitcoin stabilized at the support level of $116,500, it successfully broke through the short-term resistance of $119,000, opening up upward space. If it further breaks through the range of $121,000-$123,000, it may challenge the new high of $135,000.