Bitcoin News Today: Bitcoin Stabilizes Above $118,000 Amid Institutional Buying and Upcoming CPI Data

Bitcoin has shown notable resilience near the $118,000 support level, reinforcing its importance in the current price structure. Multiple reports indicate that the cryptocurrency has held firm above this threshold, despite broader market fluctuations, with institutional buyers playing a key role in stabilizing the price [1]. On-chain data also suggests that strategic accumulation by larger market participants is occurring, further supporting the notion of structural buying [1].

The $118,000 level has become a focal point for traders and analysts, who view it as a critical indicator of market sentiment. Recent price action saw Bitcoin surge past $118,534, breaking through a key resistance area and moving closer to its all-time high [2]. This upward movement has been partly attributed to speculation around U.S. regulatory developments, particularly the proposed inclusion of cryptocurrency in retirement investment options [3].

With the upcoming release of July U.S. Consumer Price Index (CPI) data, Bitcoin traders are hedging potential downside risks with put options in the $115,000–$118,000 range [4]. Analysts project a modest rise in inflation, with CPI expected to reach 2.8% year-on-year and core CPI potentially hitting 0.3% on a monthly basis [4]. A higher-than-expected inflation reading could delay anticipated Federal Reserve rate cuts, which in turn may affect the performance of risk assets such as Bitcoin [4].

Timothy Misir, head of research at BRN, has noted that a slight uptick in inflation could shift market sentiment and trigger tactical profit-taking [4]. Additionally, short-call covering by topside buyers suggests ongoing caution about upward price risks, reflecting a cautious yet balanced market positioning [4].

From a technical perspective, Bitcoin appears to be in a consolidation phase between $114,000 and $118,000, with no signs of losing structural support [5]. Analysts have observed a potential "4th wave bottom" forming at this level, with some projecting price targets as high as $124,800 [6]. Should Bitcoin fail to maintain support above $116,673, a retest of the $112,000 zone is possible, where significant buying interest may once again stabilize the price [7].

The continued stability around $118,000 reflects a balanced interplay between bullish and bearish forces. Institutional confidence remains strong, and on-chain indicators suggest a mix of strategic and speculative demand is underpinning the price. As the market awaits key macroeconomic data and regulatory clarity, the $118,000 level will likely remain a crucial reference point for both investors and traders.

Sources:

[1] Bitcoin News Today: Institutional Buyers Push Bitcoin to $118,000, Strategic Accumulation

https://www.ainvest.com/news/bitcoin-news-today-institutional-buyers-push-bitcoin-118-000-strategic-accumulation-2508/

[2] Bitcoin Price Analysis: Breakout Past $130K, Altcoin Season on Hold

https://coinedition.com/bitcoin-price-analysis-breakout-130k-altcoin-season-on-hold/

[3] Bitcoin Price Surges Above $118K as Trump’s 401K Crypto Order Sparks Optimism

https://blockchain.news/postamp?id=20250812-bitcoin-price-surges-above-118k-as-trumps-401k-crypto-order

[4] Bitcoin $115K Bets in Demand as Downside Fears Grip Market Ahead of U.S. CPI Report

https://www.coindesk.com/markets/2025/08/12/bitcoin-usd115k-bets-in-demand-as-downside-fears-grip-market-ahead-of-u-s-cpi-report

[5] Bitcoin Monthly Technical Outlook: Consolidation in the $114K–$118K Range

https://mudrex.com/learn/bitcoin-monthly-technical-outlook/

[6] Bitcoin Tests $118K Support as Short-Term Holders Accumulate

https://www.cryptotimes.io/2025/08/12/bitcoin-tests-118k-support-as-short-term-holders-accumulate/

[7] Bitcoin Price Prediction: Break $120K in August 2025

https://cryptoticker.io/en/bitcoin-price-prediction-break-120k-august-2025/