Crypto Market Today August 12: Strong bullish sentiment as Bitcoin approaches historical peaks and institutional flows increase

Bitcoin: Trading near historical peaks after breaking the $120,000 level, with a clear reduction in short positions following a wide liquidation wave that affected over 90% of shorts within 24 hours, boosting upward momentum and restoring confidence in the market[1]. Positive flows into Bitcoin spot funds in the United States (about $246.75 million weekly) also supported institutional demand and continued the rise[1].

Market Sentiment: The current momentum is supported by a favorable regulatory and political narrative in the United States after the passage of supportive legislation for the sector in recent weeks, which has previously been associated with a broader recovery in major cryptocurrencies such as Ethereum, Ripple, and Dogecoin[3]. This clearer regulatory framework is viewed as a medium-term support for institutional liquidity.#CryptoIn401k #BTCOvertakesAmazon #BinanceAlphaAlert #BTCHashratePeak #ETH4500Next?