Bitcoin Breaks $118,000 Again – New All-Time High in Sight
The post Bitcoin Breaks $118,000 Again – New All-Time High in Sight appeared on BitcoinEthereumNews.com.
Bitcoin Bitcoin has surged past $118,000, reigniting speculation that a fresh all-time high could be just around the corner. The world’s largest cryptocurrency is now only about 4% away from its July 14, 2025 record of $122,838, as institutional inflows and regulatory tailwinds fuel bullish momentum. Publicly traded companies now collectively hold 628,791 BTC – valued at over $74 billion – with MicroStrategy alone adding 4,020 BTC worth $427 million last week. U.S. spot Bitcoin ETFs also recorded a staggering $935 million in inflows on August 9, according to CryptoQuant, signaling robust demand from large-scale investors. This surge comes amid a structural supply squeeze, with just 12% of Bitcoin’s circulating supply actively trading. Long-term holders now control 67% of all coins, significantly reducing market liquidity and amplifying upward price pressure. Technical Setup Points to $122K Retest From a technical perspective, Bitcoin is holding firmly above both the 50-day EMA at $115,592 and the critical Fibonacci 50% retracement level of $117,518. The $117.5K–$118.8K range is emerging as a key support zone, while RSI readings near 63 suggest room for further upside. Analysts note that a close above $118.8K could open the door to a rapid retest of the $122.8K all-time high. Regulatory Winds Turning Favorable Regulatory momentum is also supporting Bitcoin’s climb. Texas has passed SB 21 to establish a state Bitcoin reserve, echoing El Salvador’s treasury model. Meanwhile, the bipartisan GENIUS Act is advancing in Congress to regulate stablecoins and safeguard self-custody wallets, and the CLARITY Act – pending Senate approval – could officially classify BTC as a commodity, shielding it from SEC oversight. Adding to the bullish narrative, President Trump has signed a rule allowing 401(k) retirement plans to include crypto investments, potentially unlocking billions in new capital inflows. All Eyes on SEC Decision Investors are now watching closely…
Filed under: News - @ August 10, 2025 7:27 am