Bitcoin News Today: Bitcoin Surges to $122K Amid Short-Term Profit-Taking and ETF Optimism

Bitcoin’s price has surged to near $122,000, drawing attention to the growing participation of short-term investors and the increasing liquidity within the market [1]. The recent rally has brought the cryptocurrency to within striking distance of its all-time high of $123,218, with prices climbing over 3.3% in a single session and reaching a peak of $122,300 [4]. The upward momentum continued as the price moved beyond $122,000 the following week, with some traders anticipating further gains on low timeframes [2]. Over the weekend, the price reached $121,000, reflecting approximately 10% gains for August [3].

According to a recent report by Glassnode, the surge has coincided with a significant wave of profit-taking among investors [1]. Historical levels of realized profit are approaching those observed during major Bitcoin milestones, signaling substantial capital rotation in the market. A large share of the selling activity has been led by short-term investors who purchased Bitcoin at lower prices and are now capitalizing on the current price highs. These actions have tested the market’s liquidity and price stability on a large scale, with many viewing the current price as an exit opportunity [1].

Despite the heavy profit-taking, Bitcoin’s price has remained stable around $120,000, with no major price declines observed so far [1]. The market’s buyers have absorbed much of the selling pressure without causing significant losses, according to experts. This resilience is attributed to the influx of new investors and increased transaction volumes, which have supported price stability [1].

However, analysts warn that Bitcoin may face short-term volatility due to speculative trading behavior [1]. The current cycle appears to demonstrate greater market resilience compared to past cycles, but monitoring shifts in investor behavior remains crucial. Traditional metrics for identifying cycle peaks have proven insufficient, making the latest Glassnode analysis particularly relevant in understanding the dynamics at play.

The price volatility was further highlighted by a notable gap in the CME Bitcoin futures market. These contracts settled at $117,430 on Friday, only to open at $119,000 the following Monday [7]. Historically, Bitcoin has tended to fill such gaps, but in this case, the movement was larger than typical intraday gaps. Traders are now watching whether the gap will close or if Bitcoin’s momentum will push it past its all-time high into new territory.

If Bitcoin retraces to within 1–2% of $120,000, the gap may begin to close [7]. However, if the price continues its upward trajectory, it could leave the gap unfilled in the short term, entering a phase of price discovery beyond its previous peak. Analysts remain divided on the near-term outlook, with some seeing the rally as a continuation of broader market optimism and others cautioning that volatility is likely to persist, particularly as inflation data and central bank policies remain key variables [6].

The rise has also drawn attention from traditional financial markets, with some speculating that Bitcoin could soon be included in investment vehicles such as 401(k)s [4]. The surge has coincided with growing institutional interest and investor bets on potential Federal Reserve rate cuts, with some analysts suggesting that the current movement was "just a matter of time" [1].

Source:

[1] Bitcoin surge to $122K was 'just a matter of time,' Analyst ... https://cointelegraph.com/news/bitcoin-rises-above-122000-after-positive-week

[2] Bitcoin Surges Past $122K, Nearing All-Time High on ETF ... https://bitcoinist.com/bitcoin-surges-past-122k-nearing-all-time-high-etf/

[3] Going To 'Be A Big Week'—Bitcoin Suddenly Soars As ... https://www.forbes.com/sites/digital-assets/2025/08/10/going-to-be-a-big-week-bitcoin-suddenly-soars-as-crypto-braces-for-massive-price-shocks/

[4] Bitcoin Nears Record. It Could Soon Join Your 401(k). https://www.investors.com/news/bitcoin-price-ethereum-high-inflows-sec-project-crypto-401ks/

[6] Bitcoin (BTC) Price News: Pullback to $119K as CPI, PPI ... https://www.coindesk.com/markets/2025/08/11/bitcoin-pulls-back-to-usd119k-as-looming-inflation-data-could-bring-price-swings

[7] Watch Out Below: Bitcoin's Weekend Surge Leaves CME Gap https://finance.yahoo.com/news/watch-below-bitcoin-weekend-surge-083305250.html