Bitcoin News Today: Bitcoin Surges 3% on Weekly Chart Amid Regulatory Boost and Bullish Technical Signals

Bitcoin is showing signs of renewed bullish momentum, with market analysts closely monitoring key price levels that could determine whether the asset regains its all-time high. On August 8, 2025, Bitcoin briefly crossed $117,000, marking a continuation of a rally that began in early August following a significant regulatory development in the United States [1]. On August 7, U.S. President Donald Trump signed an executive order permitting cryptocurrency investments in 401(k) retirement plans, a move that analysts believe has boosted market sentiment and spurred increased buying pressure [1].

According to Titan of Crypto, a prominent analyst on X, Bitcoin has been in an upward trend since April 2025 and recently rebounded from an ascending trendline. The cryptocurrency has also filled a Fair Value Gap (FVG), a technical void often associated with sharp price movements. These developments suggest that the price could potentially test its all-time high of around $122,800, provided it overcomes a key resistance level around $118,000 [1].

This level corresponds to the Kijun-sen, or Base Line, of the Ichimoku Cloud indicator, a widely used technical tool in trading. The Kijun-sen is seen as a key equilibrium point and has historically acted as a support or resistance level. Titan of Crypto emphasized that a sustained close above this line could signal the resumption of a bullish trend. Additionally, the Chikou Span, another component of the Ichimoku Cloud, remains in a bullish zone, reinforcing the potential for further upward movement [1].

Bitcoin is currently trading at around $116,880 and has shown a 3% gain on the weekly timeframe according to CoinGecko. While the price has not seen significant movement in the past 24 hours, it has maintained control above critical support levels, including the Bollinger Band, after a brief pullback on August 2 [2]. This consolidation suggests that bulls are maintaining control and that a breakout is still within reach.

Ethereum has also shown signs of strength, recently breaking past the $4,000 level for the first time since late 2024. Analyst Merlijn highlighted that Ethereum is within a rising price channel that it has only touched twice before, with the last touch coinciding with its 2021 all-time high of $4,875. A similar breakout could potentially see the price reach $20,000 [3]. BitBull, another trader, suggested that a weekly close above $4,100 could set the stage for a rapid move to a new all-time high within one to two weeks [3].

Despite Ethereum’s strong performance in USD terms, its relative strength compared to Bitcoin remains a concern. The ETH/BTC pair needs to rise by approximately 150% to match the 2021 peak, indicating that while altcoins are rallying in fiat terms, they still lag in Bitcoin terms [3].

On the miner side, Bitcoin is currently trading 7.4% above its last difficulty bottom, signaling that miner stress has eased and that forced selling—often a precursor to price declines—has not occurred [4]. This is a positive sign for the continuation of the bullish trend.

Looking ahead, analysts have pointed to several macroeconomic factors that could drive Bitcoin beyond $122,800 in 2025, including record money supply growth and broader financial market trends [5]. While the price has yet to break past its 2021 peak, the current technical setup suggests that a breakout is increasingly likely. One firm forecasted that Bitcoin could retest its $111,673 breakout point before presenting a favorable risk/reward entry, reinforcing the idea that the market remains in a critical consolidation phase [6].

In summary, the current market dynamics suggest that Bitcoin is on the verge of a significant move. With bulls maintaining control and key technical levels being tested, the conditions are favorable for a renewed rally. While forecasts should be taken with caution, the price action and broader sentiment point to the possibility of a major price increase in the near future.

Source:

[1] title: Can Bitcoin Reclaim Its All-Time High? Analyst Points To ...

url: https://www.newsbtc.com/news/bitcoin/bitcoin-price-reclaim-all-time-high/

[2] title: Best Crypto to Buy Now: BTC Eyes 119K, ETH Breaks $4K

url: https://99bitcoins.com/news/altcoins/live-btc-breaks-above-117k-eyes-119k-next-eth-breaks-4000-mark-best-crypto-to-buy-now/

[3] title: Ether price target now $20K as ETH preps all-time high in ' ...

url: https://cointelegraph.com/news/ether-price-target-now-20k-eth-preps-all-time-high-in-1-2-weeks

[4] title: Bitcoin Miners Avoid Forced Selling: BTC Sits 7.4% Above ...

url: https://www.newsbtc.com/bitcoin-news/bitcoin-miners-avoid-forced-selling-btc-sits-7-4-above-last-difficulty-bottom/

[5] title: Cryptocurrency Live News & Updates : Ethereum's Rally

url: https://m.economictimes.com/crypto-news-today-live-09-aug-2025/liveblog/123195194.cms

[6] title: BTC, ETH Rebound Is Questionable but Not All is Lost

url: https://cryptorank.io/news/feed/7f297-btc-eth-rebound-is-questionable-but-not-all-is-lost-analysis