$BTC Bitcoin Analysis - August 12, 2025

Bitcoin is currently trading at $118,773, up about 2% on the day. Technical forecasts indicate a target of $120,000-$122,000 by August 12.

Bitcoin reached a new all-time high of $123,000 on July 14 and is currently testing a key resistance level at $122,030. A $53.8 million short squeeze has supported the upward momentum.

Positive factors include positive inflows into Bitcoin ETFs of $91.5 million after four days of negative inflows, and BlackRock's fund exceeding $86 billion in assets under management.

Bitcoin is up 6.25% over the past seven days and 3.25% over the past month. Technical indicators show a neutral bullish sentiment of 60#CryptoIn401k #Bitlayer #BinanceAlphaAlert #CPIWatch #BinanceAlphaAlert