Bitcoin News Today: Bitcoin Eyes $126,000 After 6.4% Weekly Gains and Policy Boost

Bitcoin (BTC) remains consolidated above the $120,000 level, forming a bullish flag pattern on the daily chart after rebounding from its 50-day moving average (MA50). This technical formation is widely interpreted as a continuation pattern, suggesting further upside potential if the weekly close confirms the breakout [1]. As of August 13, 2025, BTC is trading at $121,527 USD, having recorded a 1.18% gain in the last 24 hours. The 7-day return stands at 6.40%, contributing to a year-to-date (YTD) increase of 30.09% [2].

The current market capitalization of Bitcoin is approximately $2.42 trillion, with a 24-hour trading volume of $82 billion, reflecting robust institutional and retail participation. The circulating supply remains at 19.91 million BTC, with a maximum cap of 21 million, reinforcing the asset’s scarcity-driven value proposition [3].

Traders are closely monitoring a decisive weekly close above $120,000 as a key trigger for a continuation rally toward the $126,000–$130,000 range. On-chain metrics indicate strength, with price forming a clear higher-low structure that validates ongoing bullish momentum [4]. A sustained move above the $122,000 resistance level could signal growing confidence among large holders, or “whales,” who are increasingly transferring BTC into cold storage, reducing immediate market supply and potentially setting the stage for a supply-driven price surge [5].

From a macroeconomic perspective, a significant policy development occurred on August 7, 2025, when U.S. President Donald Trump signed an executive order allowing cryptocurrencies—including Bitcoin—to be included in 401(k) retirement plans. This move could unlock access to over $12.5 trillion in retirement capital, potentially attracting unprecedented institutional investment into crypto assets [6]. Institutional interest is already evident, with entities such as Metaplanet reporting YTD returns exceeding 190% on their Bitcoin holdings, significantly outperforming traditional equity benchmarks like the TOPIX Core 30 Index [7]. Meanwhile, companies like Smarter Web Co and the H100 Group have expanded their BTC holdings to enter the global top 25, signaling growing acceptance of Bitcoin as a strategic reserve asset [8].

On the technological front, Bitcoin’s network is showing signs of robust development and adoption. The hash rate has reached an all-time high, reflecting increased miner participation and network resilience [9]. The Lightning Network is witnessing a surge in usage, enhancing the efficiency of microtransactions and supporting broader adoption. Additionally, innovations such as Ordinals and the Taproot upgrade continue to expand Bitcoin’s utility beyond simple value transfer, enabling digital inscriptions and asset tokenization [10]. Binance Coin (BNB) has also seen rising interest, driven by corporate buying, which is indirectly supporting BTC exposure in diversified portfolios [11].

The broader altcoin market has seen intraday gains, particularly in assets like Dogecoin and Bonk. However, Bitcoin’s stability amid this activity suggests strong-handed positioning, with large holders maintaining current positions in anticipation of a potential breakout above $122,000 [12]. If BTC sustains its position above $120,000, analysts anticipate a move toward $126,800 within the next 10 to 14 days, with further upside potential to $130,000 if bullish momentum accelerates [13].

Overall, Bitcoin is displaying a compelling confluence of favorable macroeconomic developments, technical strength, and on-chain support. The asset appears well-positioned to challenge key resistance levels, provided the $120,000 threshold remains intact and institutional adoption continues to gain momentum.

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[1] BTC/Tradingview

[2] Coinmarketcap

[3] Coinmarketcap

[4] Tradingview

[5] Blockchain.com

[6] ETHNews

[7] ETHNews

[8] ETHNews

[9] Blockchain.com

[10] Blockchain.com

[11] ETHNews

[12] ETHNews

[13] ETHNews