Bitcoin rose above $122,000, approaching its all-time high of $123,218 from July
The post Bitcoin rose above $122,000, approaching its all-time high of $123,218 from July appeared on BitcoinEthereumNews.com.
Bitcoin climbed over $122,000 on Monday morning after the OG crypto found support at $120,080 Sunday night. From there, it gained about 3% through Sunday and is now within striking distance of the $123,218 peak set on July 14. Technical readings show the bullish momentum is still in play. The Relative Strength Index (RSI) on the daily chart is at 65, well above the neutral 50 mark, while the Moving Average Convergence Divergence (MACD) signaled a bullish crossover on Monday. These conditions point to the possibility of another leg up, though analysts caution that if the rally loses steam, Bitcoin could fall toward $116,000, a key daily support level. Trump policy changes and ETF inflows boost demand On Thursday, President Donald Trump signed an executive order instructing the Labor Department to work toward allowing 401(k) retirement plans to hold cryptocurrencies, private equity, and other alternative assets. The change could open millions of retirement accounts to Bitcoin, potentially increasing buying activity. Analyst Fan said opening up these accounts to higher-risk investments could bring in “significant” demand. Institutional flows remain another strong driver. Spot Bitcoin ETFs recorded $253 million in net inflows over the past week, keeping demand high despite some price consolidation after last month’s peak. Ethereum also saw strong interest, hitting its highest level since December 2021. Spot ether ETFs drew in $461 million last week, surpassing Bitcoin’s ETF inflows and underscoring strong institutional participation in both assets. Global markets watch inflation, trade deadlines, and currency moves In U.S. equities, futures inched higher Sunday night. Dow Jones Industrial Average futures rose 56 points, or 0.1%, while S&P 500 and Nasdaq 100 futures both gained 0.1%. The uptick followed a strong close last week, with the Nasdaq Composite setting a new high, the S&P 500 just shy of another record, and…
Filed under: News - @ August 11, 2025 6:27 am