Key points:

• Bitcoin tags new August highs as traders see BTC shorts getting punished.

• An early retracement could well turn into a trip to $120,000, predictions say.

• A CME gap at $116,500 is of interest as a possible next local low.

Bitcoin (BTC) neared $119,000 into Sunday’s “decisive” weekly close as traders expected a strong week.

Bitcoin traders brace for giant short squeeze

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $118,760 on Bitstamp, marking new August highs.

“Out-of-hours” weekend trading saw heightened liquidations, with the 24-hour crypto total at $350 million, per data from monitoring resource CoinGlass.

Commenting on market structure, crypto forecasts favored further progress into the new week.

“BTC is on the cusp of a reclaiming ~$117200 back into support,” popular trader and analyst Rekt Capital wrote in his latest X post about the weekly chart.

“Bitcoin is hours away from a decisive Weekly Close.”

Popular trader BitBull said that while weekend price moves can typically reverse as TradFi markets reopen, there was hope for new all-time highs next.

“Just a 10% upward move will cause $18B+ in short liquidations and big money is probably watching it,” he suggested about liquidity conditions. 

“My guess is that Monday could be a bit bearish with BTC retracing its weekend pump. After that, we could see a move above $120,000.”

An accompanying chart compared BTC/USD now to previous bull markets to support the breakout thesis.

Fellow trader Merlijn agreed on the $120,000 target based on a potential short squeeze.

$BTC‘s next move: $120,000

The largest liquidity pool in weeks is sitting right above us.

If you’re short here… God help you.

SHORT SQUEEZE LOADING. pic.twitter.com/VXmExKH3jj

— Merlijn The Trader (@MerlijnTrader) August 10, 2025

BTC price CME gap at $116,500 on the radar

Considering where the next BTC price dip might reverse, meanwhile, crypto investor and entrepreneur Ted Pillows suggested that price action would continue to coincide with “gaps” in CME Group’s Bitcoin futures market.

Related: Bitcoin Energy Value metric says ‘fair’ BTC price is as much as $167K

“There’s a CME gap around $116.5K, which will most likely be filled,” he summarized in part of an X post. 

“This week, BTC dropped $2K to fill last week’s CME Gap. After that, Bitcoin could rally towards a new ATH.”

Trader Daan Crypto Trades nonetheless described the weekend’s moves as “choppy” rather than trending.

“Most focus is on $ETH breaking its cycle highs and alts making all kind of moves,” he argued, referring to the largest altcoin Ether (ETH), which hit multiyear highs. 

“Would assume BTC takes the spotlight again for a bit the moment it breaks $120K+ and gets close to its own all time high again.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin’s price remains in a zone where it is seeing little upward momentum as it continues to hover below its recent all-time high. After reaching above $123,000 earlier this month, the asset has pulled back slightly, trading at $119,343 at the time of writing.

This represents a 2% gain over the past week but still leaves BTC roughly 3% below its recent peak. The muted price action reflects a market that appears to be consolidating amid diverging signals from on-chain indicators and regional demand metrics.

Recent analysis from CryptoQuant contributors points to a weakening appetite for Bitcoin in both the US and South Korea, two markets that have historically contributed significant trading volume.

A closer look at exchange activity and regional pricing premiums suggests a potential shift in investor behavior, as profit-taking becomes more prominent and traders appear hesitant to buy at current levels.

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Regional Premiums Point to Lower Demand from US and South Korea

According to a post by CryptoQuant analyst Arab Chain, the Coinbase Premium Index, which measures the price difference between Bitcoin on Coinbase and other global exchanges, has failed to climb significantly despite BTC reaching record highs in July.

The index remained around levels seen in June, suggesting that US investors using Coinbase have not been aggressively buying Bitcoin during the rally.

Arab Chain noted that the index’s movement toward negative territory alongside Bitcoin’s price increase may indicate profit-taking among American investors. This implies that some may be anticipating a correction before re-entering the market.

Similarly, the Korea Premium Index has declined, signaling reduced demand from retail investors in South Korea. This index reflects the spread between Bitcoin’s price on Korean exchanges and global averages.

The negative trend suggests Korean traders have been selling below the global average, with weak buying interest on local platforms. Arab Chain interprets this as retail traders possibly waiting for a discount to reenter the market, indicating caution among individual investors in Asia’s key crypto hub.

Exchange Inflows Suggest Rising Sell Pressure

Adding to the picture, another CryptoQuant contributor, ShayanMarkets, highlighted a notable development in BTC’s on-chain activity. The latest data reveals Bitcoin has experienced its largest net inflow to exchanges since July 2024.

Typically, large inflows signal that holders are preparing to sell, increasing supply on trading platforms and contributing to potential downward price pressure. ShayanMarkets explained that this behavior, especially when occurring near all-time highs, may indicate institutional or fund-driven profit-taking.

Such moves often align with efforts to reduce risk exposure during overextended market rallies. Historically, spikes in exchange inflows have been followed by price corrections, making this a trend to monitor closely.

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However, the redistribution of capital from Bitcoin into other assets may benefit the broader crypto market. The analyst noted that altcoins could see renewed interest as funds rotate out of BTC. If the trend continues, traders may observe increased volatility and speculative movement across alternative tokens in the short term.

Featured image created with DALL-E, Chart from TradingView

Bitcoin’s price action has turned somewhat sluggish after its unprecedented climb to a new all-time high of $122,838 on July 14. The rapid push to that level was preceded by a week of frenzied trading and heavy inflows, with BTC breaking through multiple resistance zones in quick succession. However, once that peak was hit, a series of volatile intraday movements followed to give a pullback to $116,000 and Bitcoin is now back to trading between the $117,000 and $118,500 price zone.

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A notable bearish call came from crypto analyst Melikatrader94, who posted a technical breakdown on the TradingView platform that might send Bitcoin down to $113,000.

QML Zone Rejection Points To Downtrend Toward $113,600

According to the hourly candlestick chart shared by Melikatrader94, Bitcoin is currently exhibiting a Quasimodo Level (QML) structure. The Quasimodo Level (QML) structure is characterized by three peaks in a bearish scenario or three troughs in a bullish scenario, with the middle one being the most prominent, identifying the price. The post predicted that Bitcoin’s entry into the $119,000–$121,000 zone would draw sellers, and this was indeed the case. 

The quick rejection after its all-time high confirms a bearish shift in structure, and now the momentum is tilted to the downside. This rejection came after a significant price move that engulfed a previous structural support level.

“BTC rejected from QML zone and the selloff confirms bears are active,” the analyst noted. 

The bearish outlook remains valid as long as Bitcoin stays below the QML zone, with the next critical support level situated at $113,600. This area could serve as a potential point for either a bounce or short-term consolidation if the price continues downward. However, a pullback is likely to occur around $116,000 before Bitcoin falls to $113,600.

Altcoins Under Threat As BTC Price Weakens

The potential Bitcoin crash to the $113,000 region could have serious implications for many altcoins that are already starting to post massive gains. However, these altcoins, which often follow Bitcoin’s lead, are already showing signs of nervousness as BTC struggles to maintain upward momentum. 

Among the notable movers, XRP finally broke its eight-year-old resistance to hit a new all-time high of $3.65. However, the rally appears to be stalling, with the token now showing early signs of a correction around the $3.45 zone. Ethereum, which also surged on the back of Bitcoin’s push to $122,000, climbed above $3,600 for the first time in months but has since settled into a consolidation phase just below $3,500.

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Should the leading cryptocurrency break below $116,000 in the coming days, it may cause a cascade of outflows from altcoins and lead to increased selling pressure across the board. However, we could see these major altcoins finally detach from Bitcoin’s movement. This would lead to an altcoin season where major altcoins outperform Bitcoin for some time.

Featured image from Pixabay, chart from TradingView

Bitcoin spent about nine months stuck below $110 K before finally pushing past that ceiling this month. The move up to $123,000 shows real buying power.

According to EliteOptionsTrader, a crypto expert, many investors see this as the start of something bigger.

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Key Catalysts Driving The Surge

Based on examination by EliteOptionsTrader, one of the biggest factors is the potential approval of a spot Ethereum ETF. Bitcoin’s own ETFs have pulled in billions from major institutions, and a greenlight for Ethereum could send more money into crypto overall, lifting Bitcoin further.

The US election is now behind us, and talk of Federal Reserve rate cuts in late 2025 is fueling bets on a weaker dollar. Many traders view Bitcoin as a shield against political or economic swings.

At the same time, hedge funds, sovereign wealth funds, and pension plans hold only small slices of Bitcoin so far. If they decide to jump in, that could push prices even higher.

Bitcoin’s Road to $250K in 2025? $BTC has been consolidating under 110k for the last 9 months and finally broke out this month. As of now we already test 120k and looks like we are in route to testing 150k in the coming weeks. One thing to note, after something bases for such… pic.twitter.com/GGUrcUcp0D

— EliteOptionsTrader (@EliteOptions2) July 15, 2025

Long Base Could Support Further Gains

Bitcoin’s lengthy base under $110K sets a solid foundation. Breakouts after long periods of sideways action often lead to steep rallies.

Still, it’s normal for prices to dip back toward the breakout zone. A pullback to around $115K–$118K could happen before any major surge. Traders will be watching support at $118K and resistance near $125K.

Brewing Institutional FOMO

Even after the rally, big players have only dipped their toes in. EliteOptionsTrader notes that a major allocation wave—from a large pension fund or insurance giant—could trigger fresh price discovery.

And let’s not forget the April 2024 halving, which cut Bitcoin’s daily issuance by half. That supply shock often takes several months to show its full effect, but we’re seeing demand tick up already.

Even with a strong start, the path up isn’t without hazards. Sharp corrections of 10%–20% are part of crypto’s genes. Any surprise rules from major markets could stall this run.

Related Reading

On Cautious Optimism And Targets

If Bitcoin can clear $127K, the odds of a parabolic move rise sharply. Based on analysis by EliteOptionsTrader, a test of $150K in the next few weeks looks within reach. That said, aiming for $250K by year end will require all these factors to line up without a single major setback.

Bitcoin’s latest breakout feels exciting, but traders should keep a close eye on how it handles new support levels. Riding the trend can pay off, yet managing risk is just as important as spotting the next high.

Featured image from Meta, chart from TradingView

Bitcoin has reached a new all-time high of $123,165, surging more than 5% in 24 hours and pushing its market capitalization to $2.39 trillion.

According to CryptoSlate data, the milestone occurred in the early hours of July 14, marking the first time the flagship crypto has surpassed the $120,000 threshold.

This surge now places Bitcoin as the fifth-largest asset globally by market cap, above Amazon, according to data from Companies Market Cap.

Former Binance CEO Changpeng Zhao weighed in on the milestone, reflecting on how far Bitcoin has come. He noted that in 2017, a $1,000 all-time high felt monumental. Today’s figures, he suggested, may seem modest in hindsight a few years from now.

Meanwhile, technical analysts also view this Bitcoin breakout as significant momentum for the industry.

Coin Bureau co-founder Nic Puckrin noted that Bitcoin has broken above a seven-year trendline on its monthly chart for the first time. That level had previously acted as resistance in past bull markets, particularly since 2018.

What is driving Bitcoin’s price performance?

The price rally comes as the US prepares for what has been dubbed “Crypto Week,” beginning July 14.

Lawmakers are expected to hold key hearings and votes on several digital asset-related bills, including the CLARITY Act, the Anti-CBDC Surveillance State Act, and the GENIUS Act.

Market observers view this wave of legislative activity as a possible turning point for regulatory clarity, which could unlock greater institutional participation.

Bitcoin has also seen strong inflows into U.S.-listed spot exchange-traded funds. According to SoSoValue, Bitcoin ETFs attracted over $2 billion last week alone. These figures underscore rising demand from institutional investors seeking direct exposure to Bitcoin.

Some firms, including Metaplanet, are following Strategy’s (formerly MicroStrategy) lead by adding Bitcoin to their Treasury reserves—a move that further solidifies the asset’s long-term appeal.

Over $700 million in liquidations

While bulls celebrate the breakout, short traders are feeling the heat.

According to CoinGlass, the market’s rapid movement triggered $730 million in liquidations across the crypto space.

Of that, nearly $444 million came from Bitcoin positions, with short trades accounting for $435 million of the losses. One trader lost close to $100 million on a single short bet.

Notably, on-chain data from Hyperliquid also shows that crypto trader Qwatio was fully liquidated from his short position of 1,743 BTC, equivalent to $211 million, within three hours of the market breakout.

Interestingly, when priced in euros, Bitcoin has still not surpassed its high posted in January.

Mentioned in this article

However, as BTC approaches the $120K zone, profit-taking and distribution pressure may rise, increasing the likelihood of a short-term corrective pullback.

Technical Analysis

By ShayanMarkets

The Daily Chart

After a prolonged consolidation phase, Bitcoin has decisively broken above its previous all-time high of $111K. This breakout was backed by a notable surge in buying activity, triggering a short-squeeze that accelerated the bullish momentum. As a result, Bitcoin rapidly climbed toward the psychologically significant $120K resistance level.

While this move signals strong market confidence, the $120K region is a probable zone for profit-taking and distribution, which could temporarily slow down the rally. A short-term corrective phase is therefore expected, likely pulling the price back toward the $111K region to retest the breakout level. Based on the Fibonacci retracement tool, key resistance levels ahead are located at $120K and $131K.

The 4-Hour Chart

On the lower timeframe, Bitcoin printed a powerful bullish candle, decisively breaking above both the descending wedge pattern and the previous ATH at $111K. Following a minor pullback to retest the breakout zone, the price resumed its upward surge, reaching the $120K mark.

Such impulsive rallies are often followed by short-term corrections, as traders begin to realize profits. A healthy retracement would likely target the 0.5 ($113K) to 0.618 ($111K) Fibonacci levels, a key zone where the market may stabilize and build momentum for the next leg up.

On-chain Analysis

By ShayanMarkets

As Bitcoin trades at all-time highs near $120K, an intriguing insight emerges from the Short-Term Holder SOPR metric. This indicator, which measures realized profits from investors who’ve held BTC for less than 155 days, remains notably muted, especially when compared to November 2024, when Bitcoin first reached $111K.

Despite the recent surge, short-term holders aren’t cashing out aggressively, indicating that profit-taking is still relatively limited. Historically, the end of a bullish cycle is often accompanied by elevated SOPR values due to massive profit realization. But for now, the data suggests the market isn’t overheated, and the current rally could still have room to grow if new demand enters.

The post Bitcoin Price Analysis: Is a Correction Coming or Will BTC Break $120K Next? appeared first on CryptoPotato.

Prediction market data shows traders are wagering millions on the price of Bitcoin reaching levels above $120,000 in 2025.

On the decentralized platform Polymarket, a market asking what price Bitcoin will hit in 2025, has attracted over $15.5 million in volume. Traders assign a 75% probability that the asset will exceed $120,000 by the end of the year.

The data provides a quantifiable look at market conviction, translating sentiment into financially backed probabilities.

The platform indicates a 55% chance of Bitcoin surpassing $130,000 and a 33% chance of it breaking the $150,000 mark. More ambitious targets, such as $200,000, are given a 13% probability.

A separate market focused on the immediate term is more conservative; with over $3.5 million in volume, it assigns a 58% probability for Bitcoin to be above $115,000 by August 1, 2025, but only a 30% chance of it crossing $120,000 in the same period.

This activity is set against a backdrop of significant evolution for Polymarket itself. According to data from Dune Analytics, the platform’s user base and volume expanded during the 2024 U.S. election, driving monthly volume to a peak of $2.6 billion in November 2024.

In the months following the election, a new baseline of activity was established. Last month’s trading volume stood at $1.16 billion, a figure over nine times higher than the volume recorded in June last year.

The number of active traders, at 241,000 last month, was similarly more than seven times higher than the previous year. This suggests the platform retained a portion of the audience it acquired during the high-profile political event.

The composition of platform activity appears to be shifting. Since a peak of 455,000 active traders in January 2025, the number of participants has declined by 47%.

In contrast, platform volume has rebounded, growing 30% from April to June 2025. This divergence may point to a consolidation of activity among a smaller group of more heavily capitalized or higher-conviction traders.

The average volume per trader has recovered from a low of approximately $2,000 in February 2025 to around $4,800 in June 2025, which supports the idea that existing users are trading in larger sizes. Recent reports note the platform’s growth and its recent partnership with X, which Polymarket founder Shayne Coplan framed as the union of “the two top truth-seeking apps.”

While prediction markets offer a novel form of sentiment analysis, their forecasts reflect current, crowd-sourced beliefs and not certain outcomes.

The user base may not represent the broader financial world, and all markets carry inherent risks, including the potential for manipulation by actors with large amounts of capital. However, Polymarket outperformed almost all traditional polling methods during the U.S. 2025 election. Still, the regulatory environment for prediction markets also remains complex in various jurisdictions, such as the U.S. itself, even amid its latest $1 billion valuation.

Nonetheless, the substantial volume and clear directional probability on display provide a distinct, data-driven perspective on where active traders expect Bitcoin’s price to trend as of its press time price of $109,093.

Mentioned in this article

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is back in beast mode.

After months of chop and doubt, $BTC has flipped the narrative with a powerful V-shaped recovery that has it trading above $103K.

Market sentiment has turned sharply bullish, and it’s not just crypto-native voices shouting ‘to the moon.’ Big money is flowing in. Analysts are calling for a $120K breakout.

Meanwhile, U.S. credit risks and macro concerns are adding even more fuel to the Bitcoin fire.

This kind of environment is exactly what seasoned crypto investors wait for.

And while everyone’s eyes are locked on $BTC, a lesser-known altcoin is quietly gaining steam – one that’s designed to mirror Bitcoin’s momentum and possibly deliver explosive returns as the rally picks up speed. Meet BTC Bull Token ($BTCBULL) – the bull market’s sleeper hit in the making.

Moody’s, ETFs, and a Wall of Money

The bullish Bitcoin momentum isn’t just about technicals – it’s about trust.

This week, Moody’s downgraded the U.S. credit outlook from ‘stable’ to ‘negative.’

That might sound like financial jargon, but here’s what it really means: growing fears over U.S. debt and political instability are making investors nervous. And when people lose trust in traditional markets, Bitcoin shines.

We’re seeing that play out in real time. Over $5B has poured into Bitcoin ETFs in just days, with investors betting big on $BTC’s next leg up.

These aren’t just degen bets – this is serious institutional capital returning to crypto. It’s the kind of inflow that signals the beginning of a real bull market.

At the same time, Bitcoin has surged past $103K thanks to a clean V-shaped rebound. Analysts are eyeing $120K as the next major resistance level.

Confidence is rising, retail is waking up, and crypto conversations on X are heating up. The market’s moving – and projects built for bullish cycles are about to thrive.

BTC Bull Token ($BTCBULL) – Bitcoin’s Meme-Fueled Amplifier

BTC Bull Token ($BTCBULL) isn’t your average meme coin. It’s a turbocharged, meme-powered project with one mission: ride Bitcoin’s charge to $1M and reward early believers along the way.

While most meme coins chase hype with zero utility, $BTCBULL goes further – it pays out actual Bitcoin to its holders.

That’s right. It’s the first Bitcoin-themed meme coin that directly rewards its community with real $BTC.

Every time Bitcoin hits a milestone – like $150K, or $200K – $BTCBULL holders who bought through Best Wallet and still hold their tokens there receive automatic $BTC airdrops. It’s not just vibes. It’s value, delivered.

Just don’t forget to buy and hold your $BTCBULL in Best Wallet. No Best Wallet – no airdrops.

On top of that, other Bitcoin milestones like $125K, $175K, and $225K trigger token burns, permanently shrinking the supply of $BTCBULL and boosting scarcity.

This isn’t just clever – it’s engineered for momentum. With a tight link to $BTC price action and meme energy baked in, $BTCBULL turns the typical passive HODL into an active ride full of upside.

And forget dealing with clunky BRC-20s or cold storage keys.

Thanks to a partnership with Best Wallet, you can buy $BTCBULL on Ethereum and receive $BTC rewards directly through your wallet. It’s frictionless, fast, and built for the bull cycle.

Why It Works in This Market

BTC Bull Token is gaining serious traction – nearly $6M raised in its presale already, with tokens still priced at just $0.00252. And while that might look tiny, the upside is anything but.

Analysts forecast a 2025 high of $0.06467. If that hits, that’s a 2,465% gain from today’s price.

Let’s put that into perspective. If you bought $1K worth of $BTCBULL today, you’d get around 396K tokens.

Now imagine staking those tokens at a modest APY of 15% for a year. That adds 59K more tokens, giving you a total of 455K.

At the current price, that’s worth just over $1,150. At the 2025 forecast high of $0.06467, that same bag could be worth over $29,5K.

That’s how you turn a meme coin into a moonshot.

The timing couldn’t be better. Bitcoin is pushing $103K. ETF inflows are exploding. Retail is coming back. And tokens like $BTCBULL – tailor-made to ride this exact wave – could be the biggest winners.

The Sleeper Pick Built for the Bull Run

Bitcoin is stealing the spotlight, but BTC Bull Token is quietly setting the stage for something bigger. It’s early, it’s explosive, and it’s engineered to thrive in this exact market.

If you’re looking for a high-upside play that rewards you in real $BTC as Bitcoin climbs, this might be your moment to get in before the crowd.

This article is for informational purposes only and not investment advice. Always do your own research (DYOR) before investing in new crypto projects.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The highest OI for call options is concentrated at significantly higher strike prices, particularly $120,000 (9,496.2 contracts), $100,000 (8,362.8), and $110,000 (7,213.3), with notable OI extending to $150,000 (6,266.7). These strikes are well above the current Bitcoin price of $81,220. This distribution indicates strong bullish sentiment, with many traders betting on a substantial price increase by the end of the month.

The put options show the highest OI at $80,000 (4,542.4 contracts), followed by $75,000 (4,459.9), and $70,000 (4,003.8), with additional significant OI at $85,000 and $95,000. These strikes are closer to or below the current price levels, suggesting that some traders are either hedging against a potential price drop or speculating on a decline. The concentration around $80,000, near the current price, reflects caution about Bitcoin falling below this level.

The OI for calls significantly exceeds puts at the top strike prices. For instance, the highest call OI ($120,000: 9,496.2) is more than double the highest put OI ($80,000: 4,542.4). This imbalance suggests a predominantly bullish market bias, with more traders positioning for price increases than decreases.

Between March 8 and March 10, the total OI decreased from $4.526 billion to $3.856 billion — a drop of approximately $670 million. The drop follows Bitcoin’s decrease from $86,732 to $80,688. A reduction in OI typically indicates that traders are closing their options positions rather than opening new ones. Given the price decline, traders with short or hedged positions may close out to lock in gains as the price drops. This is in line with the significantly lower OI for puts.

The overall decrease in OI shows traders are adjusting their positions in response to price movements. This indicates a short-term reaction to changing conditions, potentially leading to lower volatility as fewer open positions remain to drive price swings.

A pivotal metric in this analysis is the max pain price, calculated at $80,000. This figure represents the strike price at which the total value of options expiring worthless would be maximized. Should Bitcoin’s price settle at $80,000 on expiration day, the highest number of option holders would see their premiums evaporate, delivering maximum “pain” to them while minimizing payouts for option writers. This positions $80,000 as a neutral anchor in the market — a potential gravitational center where bullish and bearish positions might balance out.

The clustering of put options at $80,000 and below could serve as a support zone for Bitcoin’s price. If the price dips toward these levels, put holders might exercise their options or buy Bitcoin to cover their positions, potentially stabilizing the decline. Conversely, the high call OI at $100,000 and $120,000 may act as resistance. As Bitcoin approaches these strikes, call holders could cash in profits or exercise their options, limiting upward momentum and creating a ceiling for price growth.

The post Bullish bets soar as Bitcoin call options target $120K strike appeared first on CryptoSlate.