Bitcoin News Today: Bitcoin Surges Past $123,231 on ETF Inflows and Fed Rate Cut Hopes

Bitcoin surged past its previous all-time high, reaching above $123,231 on Coinbase, driven by a combination of favorable macroeconomic data and significant inflows into spot ETFs. The recent U.S. July CPI report showed annual inflation at 2.7%, unchanged from June and below forecasts, which has pushed market expectations of a Federal Reserve rate cut at the September meeting to nearly 93.9% [12]. Traders and long-time investors are interpreting this shift as potentially bullish for Bitcoin, especially with anticipation growing around the potential policy shifts under a future Trump administration [12].

A key factor behind Bitcoin’s recent strength is the rapid accumulation of inflows into Bitcoin and Ether spot ETFs. On Tuesday, the Bitcoin ETF alone recorded $1.02 billion in inflows since Friday, while the Ethereum ETF saw its first $1 billion inflow [12]. These figures signal growing institutional confidence and continued investor appetite, contributing to a broader bullish sentiment across the crypto market.

Technical indicators also suggest that Bitcoin has the potential to move beyond $125,000. The price has already broken through the $121,000–$119,000 resistance zone and is now approaching a potential reversal zone based on Elliott Wave analysis [4]. Moreover, Bitcoin is currently pushing through a short liquidation cluster at $122,500, with further forced closures expected if the price continues to rise to $124,000 [12]. According to CoinGlass, nearly $2 billion in short positions could be liquidated should the price push through the $122,800 to $125,500 liquidity cluster [12]. Analysts from Binance and CoinDCX have also indicated that a move into the $125K–$128K range is highly likely, particularly if the current momentum continues [3][1].

The broader market impact of Bitcoin’s ascent is evident in its current market cap of over $2.45 trillion, with the total crypto market cap hitting a record $4.15 trillion [12]. The price surge has also triggered a positive ripple effect across altcoins, with traders expecting stronger performance from alternative cryptocurrencies as Bitcoin continues to climb [6].

Bitcoin’s recent performance has also been supported by speculative trading activity, as large leveraged positions are being closed. Social trading platforms and forums highlight the aggressive liquidation events, with $630 million in liquidations reported due to over-leveraged traders being wiped out during sharp price swings [2]. This highlights the growing volatility in the market and the increasing participation of retail and institutional traders in leveraged positions.

As the market continues to absorb macroeconomic signals and ETF inflows, Bitcoin’s trajectory appears to be heading toward a new price frontier. While the $125,000 level remains a key target, traders are also watching closely for signs of consolidation or potential pullbacks. Analysts remain cautious about the sustainability of the current momentum, but most agree that the conditions are in place for Bitcoin to continue breaking through previous resistance levels [1][12].

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Source:

[1] Bitcoin Price Prediction 2025, 2026- 2030: Will BTC Break... (https://coindcx.com/blog/price-predictions/bitcoin-price-weekly/)

[2] Short on eth from 4400 liq is 4700 (https://www.facebook.com/groups/137****66946104/posts/1676599529678569/)

[3] Top Crypto Assets' News Today | Binance Square (https://www.binance.com/en-BH/square/news/all)

[4] Supply and Demand — Trading Ideas on TradingView (https://www.tradingview.com/ideas/supplyanddemand/)

[6] Daily Crypto Discussion - August 13, 2025 (GMT+0) (https://www.reddit.com/r/CryptoCurrency/comments/1mopa3n/daily_crypto_discussion_august_13_2025_gmt0/)

[12] Bitcoin Sets New High On Back Of Latest CPI Inflation Data (https://cointelegraph.com/news/bitcoin-hits-record-high-liquidations-propel-btc-125k)