News
  • Rizwan Ansari
    author-profile
    Rizwan Ansari right arrow
    Author

    Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News.

    • Reviewed by: Sohrab Khawas
      author profile
      Sohrab Khawas right arrow
      Reviewed

      Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

      • author twitter
      • author linkedin
    • 2 minutes read

    Bitcoin Nears Record High as Analysts Predict $130K Breakout Ahead of Key CPI Data

    Story Highlights
    • Bitcoin jumps 3.5% in 24 hours, pushing market value to $2.42 trillion.

    • Trump’s retirement investment policy boosts Bitcoin ETFs with record $403.9M inflows in one day.

    • Analyst hint that post-halving patterns and “Golden Cross” signal possible Bitcoin rally toward $130,000 soon.

    Monday has brought a bullish surge for Bitcoin, with the entire crypto market trading in the green. The world’s largest cryptocurrency jumped 3.5% in the last 24 hours, lifting its market value to $2.42 trillion.

    Now, all eyes are on BTC as it nears an all-time high, with analysts eyeing a push toward $130K in this post-halving year ahead of the U.S. CPI report.

    Bitcoin Nears All-Time High

    Bitcoin kicked off the week on a strong note, climbing 5% to reach $122,000. The rally followed US President Donald Trump’s order allowing retirement savings plans, like 401(k)s, to invest in alternative assets, including cryptocurrencies.

    This policy shift sparked a surge in US Bitcoin ETF inflows, marking three consecutive days of gains. On August 8 alone, BTC ETFs saw a record $403.9 million in inflows, led by BlackRock, Fidelity, and Grayscale.

    On chain data suggest shows that trading activity is heating up. More investors are betting on higher Bitcoin prices, with open interest, the total number of active futures contracts, rising by 7,834 BTC.

    Post-Halving Trends Point BTC Toward $130K

    While bitcoin is seeing a bullish rally, analysts are optimistic about Bitcoin’s outlook because 2025 is a post-halving year, a period that has historically brought big rallies. 

    According to crypto analyst Benjamin Cowen, BTC tends to climb in July and August after each halving, sometimes pulling back in September before rally strongly again later in the year. As of now, Bitcoin is trading just under its all-time high of $123,000. 

    Meanwhile, BTC bullish chart signals, like the “Golden Cross,” suggest the price could push toward $130,000 or even higher if the current momentum holds.

    CPI Data Expected to Rise 

    Looking ahead, all eyes are on the upcoming US inflation reports on 12th august and Producer Price Index (PPI) due this week. Economists expect July’s CPI to rise to 2.8%, up from 2.6% in June, partly because of new tariffs introduced under Trump.

    Higher inflation often drives investors toward assets like Bitcoin, which is seen by some as a “safe haven.” If inflation comes in high, demand for Bitcoin could increase even further.

    Meanwhile, markets currently see a strong chance of two rate cuts in September, with the possibility of even bigger cuts gaining traction.

    Never Miss a Beat in the Crypto World!

    Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

    FAQs

    Why is Bitcoin price up today?

    Bitcoin surged 5% to $122K due to Trump’s 401(k) crypto approval, record $403.9M ETF inflows (Aug 8), and rising open interest (+7,834 BTC futures).

    What’s driving Bitcoin’s rally near ATH?

    Three key factors:

    1. Institutional demand via retirement accounts

    2. Post-halving bullish trends

    3.”Golden Cross” technical formation signaling $130K+ potential

    Could CPI data affect Bitcoin’s price?

    Yes – Expected 2.8% July CPI (vs 2.6% June) may boost BTC’s inflation-hedge appeal, with potential Sept rate cuts adding momentum.

    Show More

    Related Articles

    Back to top button