Bitcoin News Today: Bitcoin Nears All-Time High on Institutional Buying and Policy Shifts

Bitcoin is nearing its all-time high as institutional investors continue to accumulate the asset. As of August 14, Bitcoin traded at $121,800 before experiencing a minor pullback, supported by macroeconomic developments, including dovish Federal Reserve expectations and regulatory changes. A major policy shift has now permitted U.S. 401(k) plans to include cryptocurrency allocations, potentially boosting long-term demand from both retail and institutional investors [1].

Market volatility remains high, with over $500 million in leveraged positions liquidated in the past 24 hours. Analyst Rekt Capital has identified $126,000 as a key level for Bitcoin to break out of. A successful move above this threshold could initiate a new bullish phase, whereas a failure to do so might lead to a prolonged consolidation period [1].

Bitcoin’s market capitalization has now surpassed $2.46 trillion, surpassing the market caps of major corporations such as Alphabet and Amazon. Institutional demand continues to strengthen the bullish case, with several companies, including Strategy, Metaplanet, Smarter Web Company, and Capital B, recently adding Bitcoin to their treasuries. This week, $333.1 million flowed into Bitcoin, slightly higher than last week’s figure, although still below mid-July peaks [1].

The ongoing institutional buying has helped cushion recent price pullbacks, with large investors viewing dips as opportunities to accumulate. This structural support reinforces the broader bullish outlook, positioning a decisive breakout above $126,000 as a potential gateway to higher price levels.

From a technical perspective, Bitcoin’s rejection from $123,200 has shifted the short-term outlook toward consolidation, with current prices hovering near the $117,350 Fibonacci 0.236 level. On the 4-hour chart, BTC recently broke out of a descending channel, only to print a shooting star candle, a pattern often associated with near-term corrections. The RSI has fallen from 60 to 42, indicating weakening momentum, while the MACD has turned bearish with a new crossover. Key trendline support near $113,650 remains critical; a breakdown could expose the 0.5 Fib retracement at $110,721, aligning with the 50-period SMA as dynamic support [1].

If Bitcoin holds above $117,350, a range-bound movement between $117,000 and $123,000 is likely before another breakout attempt toward $126,200. A close above this level, supported by strong volume, could set the stage for a short-term move toward $130,000 and potentially $150,000 in the longer term.

For active traders, scaling in on dips toward $113,650–$110,700 with stops under $107,700 and targeting rebounds toward $123,200 and $126,200 is considered a viable strategy. Although volatility may test short-term positions, the technical structure still favors bulls, particularly if the $110,000–$113,000 zone holds firm [1].

Source: [1] Bitcoin Price Prediction: Institutions Pile In as BTC Approaches ATH – One Break Above $126K Could Change Everything (https://cryptonews.com/news/bitcoin-price-prediction-institutions-pile-in-as-btc-approaches-ath-one-break-above-126k-could-change-everything/)