Bitcoin News Today: Bitcoin Eyes $133K If It Holds Above $112K Support Level

Bitcoin's price trajectory has drawn renewed attention as on-chain analytics suggest a potential surge to $133,000 if the cryptocurrency maintains support above $112,000. This forecast, based on the MVRV Extreme Deviation Pricing Bands model, highlights $133,000 as a key resistance level, provided Bitcoin remains above the critical $112,000 threshold [1]. The model, which evaluates market balance and investor behavior, has historically demonstrated accuracy in predicting price shifts [1].

Bitcoin recently rebounded from a weekly low of $112,000, trading at $118,685 as of Sunday, with a 1.5% daily gain and a market capitalization of $2.36 trillion. The 24-hour trading volume reached $62.58 billion, marking a 17.67% increase from the previous day [1]. On-chain data further supports a bullish bias, with the BTC Z-Score standing at +1.5σ above its one-year mean. This indicates the market is not yet in overvaluation territory. Meanwhile, the Activity–Price Divergence (APD) remains near −1.5, suggesting price growth is still ahead of on-chain activity, but a shift toward zero could signal stronger network engagement [1].

Bitcoin’s dominance in the cryptocurrency market has climbed to 59.53%, reinforcing its position as the preferred digital asset over alternatives [1]. Open interest in Bitcoin futures stands at $197.04 billion, with a marginal daily decline of 1.37%, signaling some short-term profit-taking. The Fear and Greed Index currently reads 70, indicating a healthy bullish trend driven by market greed but not extreme euphoria [1].

According to analysts, if the current trend continues and the $119,249 level is breached, Bitcoin could be on a path to $133,000 by the end of 2025 [2]. This projection is supported by ETF inflows, including a notable 3.44K BTC net inflow recorded on August 8, primarily driven by IBIT’s 3.07K BTC addition [1].

Institutional holdings also contribute to price stability, with corporations and governments collectively holding significant reserves in Bitcoin. The largest corporate holder holds over $70 billion in BTC, while the United States and China each hold more than $20 billion [1]. These holdings reduce the circulating supply and support a more stable price environment.

Macro factors are also in Bitcoin’s favor. The U.S. Dollar Index, currently at 98.01, is weaker, enhancing Bitcoin’s appeal as an alternative store of value. Gold futures, at $3,398, remain stable, showing no strong competition from traditional safe-haven assets [1]. Market participants are also monitoring this week’s U.S. inflation data ahead of the Federal Reserve’s September meeting, which could influence Bitcoin’s direction [1].

The analysis highlights the convergence of strong technical indicators, favorable on-chain metrics, and a supportive macroeconomic backdrop. If Bitcoin holds above $112,000, the path to $133,000 appears increasingly plausible.

Sources:

[1] Bitcoin Could Hit $133K if It Holds $112K, Pricing Bands – Coincu (https://coincu.com/analysis/bitcoin-could-hit-133k-if-it-holds-112k/)

[2] BTCUSDT.P trade ideas - Bitcoin – TradingView (https://in.tradingview.com/symbols/BTCUSDT.P/ideas/)