Bitcoin News Today: Bitcoin Surges Past $122,000 Amid South Korean Premium and TON's 7% Jump

Bitcoin’s price reached a new peak above $122,000 in early August 2025, signaling a robust resurgence in the crypto market [1]. Alongside this milestone, South Korea continued to exhibit a widening price premium for Bitcoin, underscoring the persistent demand from both retail and institutional investors in the region [2]. This trend highlights the structural imbalances and fragmented price discovery mechanisms that remain a recurring feature of the South Korean market, despite ongoing regulatory constraints.

The surge in Bitcoin’s price coincided with significant developments in the broader ecosystem. TON’s native crypto wallet was integrated into Telegram, an infrastructure upgrade that pushed TON’s price up by 7% in the same timeframe [1]. However, this development did not translate into broader support for Bitcoin, which continued to follow its own trajectory, driven primarily by demand-side dynamics.

In the United States, the Coinbase Premium Gap remained positive as Bitcoin climbed toward $122,000 [2]. This indicator suggests that U.S. investors were willing to pay a premium for Bitcoin, reflecting strong bullish sentiment. Analysts noted that if Bitcoin consolidates effectively after recent corrections, the renewed demand could help it return to above $120,000 [2].

Despite the initial surge, Bitcoin’s price had slightly retreated by August 13, trading below the $121,200 level [3]. This retracement has raised concerns about the formation of a potential double top pattern at the $122,000 level, a technical formation that could signal a bearish reversal if the price fails to break through again [4]. Bulls are now focused on defending key support levels as the market remains cautious and volatile.

South Korea’s price gap has been attributed to a mix of factors, including regulatory uncertainty and high retail participation [2]. Although the country has not banned crypto exchanges outright, it continues to enforce strict trading and advertising rules, which contribute to price distortions. The premium between global and South Korean Bitcoin prices often widens during periods of significant market movement, reflecting the fragmented nature of price discovery in the region.

Meanwhile, major crypto firms are taking steps to address industry challenges. Binance recently joined forces with Tron, Tether, and TRM Labs in a $250 million initiative aimed at combating financial crime in the crypto space [5]. This collaboration signals a broader push to enhance regulatory clarity and rebuild trust, which are critical for the long-term sustainability of the market.

The broader crypto market showed relative stability during this period, with assets like Ethereum and XRP maintaining steady positions [6]. However, some tokens, such as ENS, faced downward pressure, recording a 4.25% price drop despite recent rebranding efforts [3].

In summary, Bitcoin’s recent price action reflects a complex interplay of strong institutional demand, regional market imbalances, and evolving regulatory environments. While volatility persists, the underlying trend continues to point toward increased adoption and speculative interest in the digital asset space.

Sources:

[1] Telegram integrates TON crypto wallet, TON price jumps 7% - https://cryptorank.io/news/feed/ton-telegram-integrates-ton-crypto-wallet-ton-price-jumps-7

[2] Strong U.S. demand could push BTC back above $120K - https://tradersunion.com/news/cryptocurrency-news/show/431256-bitcoin-price-prediction-strong-u-s-demand/

[3] ENS Price Drops 4.25% Despite Recent Rebranding Boost - https://blockchair.com/news/ens-price-drops-425-despite-recent-rebranding-boost-can-bulls-defend-27-support--f410cfe838

[4] Watch Out for Potential Bitcoin Double Top as Bulls Fail to Break $122K Again - https://leapdigitalinvestments.com.au/

[5] Binance aligns with Tron, Tether, and TRM Labs in $250M - https://www.mitrade.com/au/insights/news/live-news/article-3-1034286-20250813

[6] Crypto Today: Bitcoin, Ethereum, XRP trade broadly steady - https://www.mitrade.com/au/insights/news/live-news/article-3-1032650-20250812