📅 August 11, 2025 – The crypto market is heating up as Bitcoin surges past $122K in early trading, just shy of its all-time high. But the big question is: Can BTC hold and reclaim $120K as a strong support?
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🔍 Technical Analysis
Current Price: Around $122K, facing resistance near the $123.5K–$124K zone.
Support Levels: Key short-term support sits at $120K. If BTC can close above this mark for several sessions, it will likely flip into a solid demand zone.
Indicators: RSI remains in the bullish zone, showing healthy buying pressure without extreme overbought signals. Moving averages (50D & 200D) are trending upward — a classic bull sign.
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📈 Fundamental Drivers
1. ETF Inflows: Spot Bitcoin ETFs continue to attract heavy institutional buying, adding liquidity and stability.
2. U.S. Policy Shift: The recent executive order allowing 401(k) retirement plans to include crypto has opened doors for trillions in potential capital.
3. Institutional Adoption: Big players like MicroStrategy keep adding to their BTC holdings, boosting confidence.
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⚡ Today’s Rally
Bitcoin’s rally today is being fueled by a mix of positive sentiment, strong fundamentals, and technical breakout momentum.
Altcoins like Ethereum and XRP are also gaining, suggesting this is not just a BTC spike, but a broader market risk-on move.
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🧠 Bottom Line
If BTC holds $120K as support, the next target is $125K–$128K. Failure to defend $120K could trigger a short-term pullback toward $118K.
Right now, fundamentals and charts both lean bullish, so the probability of reclaiming and sustaining above $120K is strong — but traders should watch for profit-taking at resistance zones.#BTCReclaims120K
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📰 Sources:
Bitcoin Soars – Barron’s
Crypto Stocks Rally – Barron’s
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