Bitcoin is experiencing strong upward momentum, approaching its all-time high price with expectations of reaching 130,000 USD in the post-Halving year 2025.
Bitcoin's price increased by 3.5% in the past 24 hours, raising its total market value to 2.42 trillion USD. At the same time, heightened interest as US CPI data is expected to rise will positively impact this asset.
MAIN CONTENT
Bitcoin is trading near the record level of 123,000 USD after the new US policy move.
Post-Halving years often witness strong price increases, with BTC price expected to exceed 130,000 USD.
US CPI data is expected to rise, increasing the appeal of Bitcoin as an inflation hedge asset.
How is Bitcoin approaching its all-time high price?
Bitcoin just rose 5% in the past week, reaching 122,000 USD, thanks to the new order from the US President allowing retirement savings programs to invest in alternative assets, including cryptocurrencies.
This has triggered an influx of capital into Bitcoin ETFs in the United States, continuously increasing for three days, with a record 403.9 million USD attracted on August 8 alone, led by major institutions such as BlackRock, Fidelity, and Grayscale.
On-chain data also shows a surge in investor trading activity, with open interest increasing by an additional 7,834 BTC, reflecting expectations for Bitcoin prices to continue rising.
The loosening of investment policies allowing cryptocurrency integration into retirement funds will strengthen Bitcoin's position in the traditional financial ecosystem.
Cryptocurrency market analyst, 2024
How is the post-Halving trend in 2025 expected to lead Bitcoin to reach 130,000 USD?
The year 2025 is a post-Halving year, a time when Bitcoin typically experiences strong price increases historically. Market analyst Benjamin Cowen notes that Bitcoin usually increases from July to August, although there may be adjustments in September before continuing to rise sharply.
Currently, Bitcoin is trading close to its ATH of 123,000 USD. Technical signals such as the 'Golden Cross' lay the foundation for the price to rise to 130,000 USD or higher if the upward momentum is sustainable.
This trend aligns with historical data, exhibiting clear cyclicality after each Halving - demonstrating Bitcoin's stable long-term growth.
"Once the growth momentum is reinforced by technical signals and the Halving mechanism, Bitcoin could advance to previously unseen price levels."
Benjamin Cowen, Cryptocurrency Analyst, 2024
How will the expected rise in US CPI data affect the Bitcoin market?
The US Consumer Price Index (CPI) data for July is expected to rise to 2.8% from 2.6% in June, primarily due to new tax rates implemented under President Donald Trump's administration.
High inflation often drives capital flows into assets viewed as 'safe havens' like Bitcoin, increasing demand for this cryptocurrency.
The market is also pricing in the high likelihood that the US Federal Reserve (Fed) will implement two rate cuts in September, possibly more, facilitating Bitcoin's upward momentum.
Frequently Asked Questions
How much has Bitcoin increased in the most recent day?
Bitcoin has increased by approximately 3.5% in the past 24 hours, bringing the market value to 2.42 trillion USD.
How do the new policies from the US affect Bitcoin?
The policy allowing retirement funds to invest in cryptocurrencies has stimulated a large influx of capital into Bitcoin ETFs and driven Bitcoin prices to rise sharply.
How does Bitcoin Halving affect its price?
Post-Halving years are often times when Bitcoin experiences large price increases historically over nearly the last decade.
What is the relation between rising CPI data and Bitcoin?
Rising inflation increases Bitcoin's role as an inflation hedge asset, thus attracting investors seeking safe investment places.
What technical factors support Bitcoin reaching 130,000 USD?
Signals such as 'Golden Cross' on technical charts indicate sustainable price increase opportunities for Bitcoin in the short and medium term.
Source: https://tintucbitcoin.com/bitcoin-sap-vuot-dinh-cho-cpi/
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