Bitcoin Surges Toward $120K as Institutional Demand Fuels Rally

Bitcoin's price is nearing record highs, surpassing $105,000 and approaching its January peak, driven by strong institutional demand. Market analyst Doctor Profit predicts a breakout target of $116,000–$120,000, supported by bullish technical indicators and sustained buying pressure. Key resistance levels have been cleared, with $100,000 now acting as a support level. Daily chart analysis shows a strong bullish divergence, historically a reliable precursor to further upward movement. As of August 2025, Bitcoin's momentum suggests continued growth, reinforcing its dominance in the cryptocurrency market.

Bitcoin Price Nears Record Highs Amid Bullish Predictions

Bitcoin surges past $105,000, approaching its January peak as institutional demand fuels momentum. Market analyst Doctor Profit projects a breakout target of $116,000–$120,000, citing bullish technical indicators and sustained buying pressure.

The cryptocurrency has cleared key resistance levels, with the $100,000 threshold now acting as support. Daily chart analysis reveals a strong bullish divergence—a historically reliable precursor to upward price action.

JPMorgan's Bitcoin Reversal Signals Institutional Shift as Crypto Markets Reawaken

JPMorgan Chase's unexpected embrace of Bitcoin marks a watershed moment for institutional crypto adoption. CEO Jamie Dimon, long the cryptocurrency's most vocal Wall Street critic, has authorized client access to Bitcoin through the banking giant - a symbolic capitulation that underscores growing mainstream acceptance.

The policy shift coincides with Fidelity's recent proclamation that bitcoin is poised to assume gold's role as a store of value. Market indicators reinforce this narrative: Bitcoin has reclaimed its six-figure valuation, ETF inflows are accelerating, and derivatives activity suggests sophisticated investors are repositioning. Open interest in crypto derivatives has nearly doubled since March, signaling renewed institutional participation.

Australian Court Classifies Bitcoin as Money, Potentially Triggering $640M in Tax Refunds

An Australian court has ruled that Bitcoin should be treated as money, a decision that could pave the way for up to $640 million in tax refunds for cryptocurrency investors. The landmark classification aligns Bitcoin with traditional currencies for taxation purposes, marking a significant step toward regulatory clarity in the digital asset space.

The ruling challenges previous tax treatments of cryptocurrencies as assets or property, which often subjected transactions to capital gains taxes. By recognizing Bitcoin's monetary characteristics, the court opens the door for more favorable tax treatment and could set a precedent for other jurisdictions grappling with crypto classification.

Americans Favor Bitcoin Over Gold in Diversification Strategy

A recent survey by The Nakamoto Project reveals a growing preference for Bitcoin over Gold among Americans. The study, involving 3,345 participants matched to U.S. Census demographics, found that a majority support converting 1% to 30% of gold reserves into BTC. Conducted from February to mid-March, the survey compensated respondents for their time, ensuring diverse representation across age, gender, race, income, education, and region.

Critics questioned whether the results skewed toward Bitcoin enthusiasts, but co-founder Troy Cross defended the findings, noting participants didn't overwhelmingly favor gold when presented with a balanced choice. Dennis Porter of Satoshi Action Fund highlighted the correlation between age and Bitcoin ownership, echoing prior research.

Bitcoin Nears All-Time High Amid Institutional and Legislative Support

Bitcoin price hovers at $105,200, just 4% below its record peak of $109,588, as institutional interest grows. JPMorgan Chase will begin allowing clients to purchase Bitcoin, signaling widening mainstream acceptance.

Texas lawmakers are advancing Senate Bill 21, which WOULD create a state Bitcoin Reserve. The legislation faces a second reading in the House, potentially cementing Texas' position as a crypto-friendly jurisdiction.

4 in 5 Americans Advocate for U.S. to Diversify Gold Reserves into Bitcoin

A recent survey conducted by Qualtrics between February and March 2025 reveals that 80% of Americans support converting a portion of U.S. gold reserves into Bitcoin. The poll, which included 3,345 demographically representative participants, found most respondents favored allocating between 1% and 30% of reserves to BTC. Younger demographics showed stronger preference for Bitcoin diversification compared to older groups.

Troy Cross of the Nakamoto Project emphasized the survey's validity, noting minimal support for zero Bitcoin allocation. The findings underscore growing public trust in cryptocurrency as a reserve asset, challenging traditional gold-backed strategies.