🚀 Bitcoin Smashes Global ATHs—$131K Target in Sight This August

Bitcoin isn't just breaking records—it's vaporizing them. The OG crypto just printed fresh all-time highs across multiple markets, with traders now eyeing $131,000 as the next stop.

The global FOMO is real

From Tokyo to Toronto, BTC's relentless rally has institutional desks scrambling and retail investors forgetting they ever doubted digital gold. Even the usual 'overbought' warnings can't kill this momentum.

Wall Street's playing catch-up—again

While traditional finance debates 'store of value' theories, Bitcoin's price action is writing the playbook in real-time. Funny how those 2AM crypto trading sessions now outperform most hedge funds' quarterly reports.

Will August deliver the six-figure moon shot? One thing's certain—the suits still asking 'But what backs it?' are about to get left behind... again.

When will Bitcoin break another high in USD?

Considering Bitcoin’s global performance, Praevisio, a Bitcoin analyst, remains bullish on BTC’s future price.

Praevisio noted that Bitcoin’s recent uptrend has swept up all resting liquidity, created a large CME gap on the way up, and established fresh demand zones.

Due to this, Praevisio’s monthly outlook for the top crypto is positive. He forecasts a 90% chance of BTC reaching $131,000 this month and estimates a 23% chance of revisiting the monthly low.

On the other hand, analysts at Bitunix exchange told CryptoSlate that macroeconomic factors, including the upcoming release of the Consumer Price Index (CPI) and Moody’s potential recession forecast for the US, could impact market sentiment and shift BTC’s price trajectory in the short term.

Nonetheless, Bitunix analysts believe that if BTC maintains its strong volume and closes above $120,000, it could target $124,000 to $127,000 next.

Conversely, should Bitcoin fail to break the $120,000 resistance or FORM a long upper wick, a retracement to $116,000 to $114,000 is likely.