Bitcoin News Today: Bitcoin Rises 2% Amid Bullish Policy and Futures Interest

Bitcoin (BTC) has shown a notable upward trend, rising nearly 2% over the past 24 hours as buyers attempt to push the price back toward the $120,000 level. The recent surge follows bullish policy shifts and increased open interest in Bitcoin futures, reinforcing optimism among traders and investors. Despite the upward momentum, analysts caution that $120,000 remains a critical resistance level where the price could face significant pressure [1].

According to recent price action, BTC has maintained support above $116,000, indicating that bullish momentum has not been fully subdued by short-term selling pressure. The cryptocurrency’s price trajectory over the weekend highlighted its volatility, with BTC dropping as low as $112,707 before rebounding and reclaiming the $114,000 level. On Monday, the price crossed $115,000 and settled at $115,097, continuing its gradual upward trend [2]. As of the latest session, BTC is trading around $118,180 after rising nearly 2%, showing signs of renewed buying interest [3].

Some traders and analysts are monitoring the possibility of a short squeeze, which could occur if the price rises sharply. One trader noted that a 10% upward move could trigger over $18 billion in short liquidations, potentially accelerating BTC’s path to new all-time highs. However, this scenario depends on broader market behavior and the reopening of traditional markets, where weekend gains could be reversed [4]. Rekt Capital, a well-known trader, observed that Bitcoin is on the verge of reclaiming key support levels and suggested that a decisive weekly close could determine the near-term direction [5].

On the other hand, Robert Kiyosaki, a best-selling author and financial commentator, has expressed a bearish view, predicting that Bitcoin could drop to $90,000 due to the so-called “Bitcoin August Curse.” This historical pattern, Kiyosaki claims, is often associated with weak performance in August and could serve as a buying opportunity for him. He emphasized that the larger economic risks lie in the U.S. debt situation and the management of financial institutions like the Federal Reserve. Kiyosaki also criticized traditional financial advice, warning that bonds are not as safe as commonly perceived and that he has been increasing his holdings in gold, silver, and Bitcoin in anticipation of a market downturn [6].

From a technical perspective, some analysts are drawing optimism from BTC’s volume profile. One analyst highlighted the presence of a volume shelf on the BTC/USDT daily chart and suggested that if the price consolidates above the current level, it could indicate sufficient buying interest to push BTC toward $131,000. This view, however, remains speculative and hinges on continued accumulation and bullish sentiment [7].

Overall, while the price action of BTC has been volatile, the broader trend suggests that buyers are making a strong attempt to reclaim the $120,000 threshold. The next critical test will be whether the market can sustain this level and move higher, or if bearish forces will push BTC back down into the $115,000 range.

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[1] [Bitcoin Price Analysis: BTC Surges As Bulls Look To Reclaim $120,000](https://bitzo.com/2025/08/bitcoin-price-analysis-btc-surges-as-bulls-look-to-reclaim-120000)