Bitcoin Price Prediction: Almost $118K and Up 3.6% – Is $120K the Next Stop?

Aug 09, 2025

Bitcoin is at $117,500, up nearly 1% in the last 24 hours, with a market cap of $2.34 trillion and $58.4 billion in daily volume. It’s up 3.6% for the week and closing in on $120,000 as institutional demand and market dynamics reshape the old price cycles.

Market Cycles Changing

Bitcoin’s 4-year halving cycle, where major peaks occur about a year after each halving, is showing signs of changing. In 2024, BTC hit $73,000 in March, well ahead of the cycle peak. Analysts point to US Bitcoin ETFs, increasing institutional interest, and a more mature market structure as the reasons for this change.

In previous cycles, BTC would drop 70-80%. This time, the biggest correction was 26%. Experts like Ryan Chow of Solv Protocol and Matt Hougan of Bitwise expect future pullbacks to be 30-50% and Bitcoin to be more attractive to long-term investors. If the cycle structure is breaking, BTC could see more sustained and less volatile gains in the coming years.

Tokenized Stocks and Broader Blockchain Adoption

Adoption trends are also making Bitcoin more attractive. Kraken has launched xStocks, tokenized equities backed 1:1 and available for as low as $10. The product is live in the Middle East, Asia, and Latin America, and will soon be in Europe, and a debit card to buy stocks directly from stock holdings or crypto balances. Last month, Tesla tokens (TSLAx) rose 102.9%, and the sector is growing fast.

Bitcoin Technical Outlook: $120K in Sight

On the daily chart, Bitcoin price prediction is bullish as BTC is testing the top of the bullish flag formed after the July run to $123,250.

Price is supported by the uptrend line and the 50-day SMA at $113,435, and the recent gains are from the bounce off the 0.382 Fibonacci retracement at $113,678.

The RSI is up from mid-50s and not overbought. The MACD is about to cross bullish and should add to the upside. A close above $117,335 could target the $123,250 high and $127,000 if momentum holds. Support is between $113,400 and $113,600.

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Sources >> Bitcoin Price Prediction: Almost $118K and Up 3.6% – Is $120K the Next Stop?