Bitcoin is at $117,500, up practically 1% within the final 24 hours, with a market cap of $2.34 trillion and $58.4 billion in every day quantity. It’s up 3.6% for the week and shutting in on $120,000 as institutional demand and market dynamics reshape the outdated value cycles.
Market Cycles Altering
Bitcoin’s 4-year halving cycle, the place main peaks happen a couple of 12 months after every halving, is exhibiting indicators of adjusting. In 2024, BTC hit $73,000 in March, nicely forward of the cycle peak. Analysts level to US Bitcoin ETFs, rising institutional curiosity, and a extra mature market construction as the explanations for this modification.
Bitcoin has usually traded in a four-year value cycle centered round an occasion referred to as the halving. However extra not too long ago, that cycle, which has usually had a predictable sample, has proven indicators of breaking and even disappearing altogether.
Learn extra right here: https://t.co/BMPQI3L2G4 pic.twitter.com/CvL3JyTKFf— CNBC Worldwide (@CNBCi) August 8, 2025
In earlier cycles, BTC would drop 70-80%. This time, the largest correction was 26%. Consultants like Ryan Chow of Solv Protocol and Matt Hougan of Bitwise count on future pullbacks to be 30-50% and Bitcoin to be extra enticing to long-term traders. If the cycle construction is breaking, BTC may see extra sustained and fewer unstable features within the coming years.
Tokenized Shares and Broader Blockchain Adoption
Adoption tendencies are additionally making Bitcoin extra enticing. Kraken has launched xStocks, tokenized equities backed 1:1 and out there for as little as $10. The product is dwell within the Center East, Asia, and Latin America, and can quickly be in Europe, and a debit card to purchase shares immediately from inventory holdings or crypto balances. Final month, Tesla tokens (TSLAx) rose 102.9%, and the sector is rising quick.
Full story out now
https://t.co/MpgCL4eNO9
— Roundtable Community (@RTB_io) August 8, 2025
In the meantime, Coinbase has added decentralized trade (DEX) buying and selling to its US app, aside from New York.
Customers can now commerce on Uniswap, Aerodrome, and different DEXs with out leaving Coinbase and commerce tokens tied to tasks like Reserve Protocol and Virtuals AI Brokers immediately on-chain. That is self-custody and extra token entry within the post-FTX world.
Tens of millions of property. One Coinbase app.
→ Each asset on @base
→ Quicker and simpler entry to onchain buying and selling
→ Tokens go from launch to out there on Coinbase in moments
All out there in the identical Coinbase app with DEX buying and selling.
Rolling out now, beginning within the U.S. (ex. NY). pic.twitter.com/yo5tw04js9— Coinbase
(@coinbase) August 8, 2025
Bitcoin Technical Outlook: $120K in Sight
On the every day chart, Bitcoin value prediction is bullish as BTC is testing the highest of the bullish flag fashioned after the July run to $123,250.
Worth is supported by the uptrend line and the 50-day SMA at $113,435, and the latest features are from the bounce off the 0.382 Fibonacci retracement at $113,678.
The RSI is up from mid-50s and never overbought. The MACD is about to cross bullish and will add to the upside. A detailed above $117,335 may goal the $123,250 excessive and $127,000 if momentum holds. Assist is between $113,400 and $113,600.
For merchants, a dip to $116,500-$117,300 might be a protracted entry, with stops under $113,400. A confirmed breakout may arrange a transfer to $130,000 pushed by institutional inflows, regulatory readability, and broader blockchain adoption.
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The submit Bitcoin Worth Prediction: Virtually $118K and Up 3.6% – Is $120K the Subsequent Cease? appeared first on Cryptonews.