Bitcoin News Today: Bitcoin Nears All-Time High on $123,000 as Institutional Adoption Fuels Bullish Momentum

Bitcoin’s price surged past $123,000 on August 13, 2025, according to data from Bitcoin Magazine Pro, nearing its current all-time high of $123,180 set on July 14 of the same year. The rally reflects growing institutional adoption, record corporate holdings, and heightened trading volumes across major U.S. spot Bitcoin ETFs. BlackRock’s IBIT led the pack with over $3.7 billion in trading volume, highlighting the product’s dominant role in the current market dynamic [1].

Michael Saylor’s firm, Strategy, also reached a significant milestone, as its Bitcoin holdings closed at a record $77.2 billion—up from $41.8 billion in 2024. Saylor attributed the increase to aggressive accumulation and ongoing institutional adoption. Strategy’s position as one of the largest Bitcoin holders has contributed to broader market sentiment and reinforced bullish momentum [1].

Meanwhile, El Salvador’s national Bitcoin investment has shown substantial returns. The country’s unrealized profit from its BTC holdings now stands at $468 million, with total holdings valued at $768 million—up from an initial investment of $300 million. The nation’s Bitcoin Office has declared the initiative a success, signaling that its early adoption strategy is paying off [1].

Analysts have offered cautious optimism about the near-term outlook. While Bitcoin is close to setting a new all-time high, some warn of potential short-term volatility. Samson Mow, CEO of Jan3, noted that altcoin momentum could lead to a temporary pullback in Bitcoin’s price before it resumes its upward trajectory. “Once altcoin mania passes, Bitcoin will take off,” he said, echoing historical market behavior [1].

On-chain metrics and technical indicators support the view that buying pressure remains strong, particularly above the $120,000 level. Multiple analysts have set price targets for Bitcoin in the coming weeks, including a projected $123,274 by August 10 from CoinCodex and a more aggressive $127,891 from Changelly. Another forecast anticipates a $125,000 level by late August 2025, citing the convergence of macroeconomic factors such as the Federal Reserve’s policy pivot and ETF inflows [2].

A critical support level has been identified near $115,000, with a failure to defend it potentially signaling a pullback. On the other hand, a daily close above $125,000 could open the door to an extended target of $137,000 [2]. A sustained hold above $120,000 remains a key catalyst for further gains, while a drop below this level could invalidate the current bullish bias [2].

Bitcoin’s recent price action suggests a continuation of the bullish trend, with traders and analysts closely monitoring price behavior around $123,000 and $125,000. A successful breakout could bring renewed optimism, while a failure to maintain momentum may result in a consolidation phase or a pullback toward the $115,000 support level. Market participants are advised to remain informed and adjust strategies based on real-time price action and evolving conditions [2].

Source: [1] https://bitcoinmagazine.com/markets/bitcoin-price-breaks-123000-bullish-momentum-targets-125000

[2] https://www.tradingnews.com/news/bitcoin-price-eyes-125k-usd-breakout-as-fed-pivot-etf-inflows-and-trump-boost-bulls