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

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Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

Part of the Team Since

Sep 2022

About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

August 9, 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.

Meanwhile, Coinbase has added decentralized exchange (DEX) trading to its US app, except for New York.

Users can now trade on Uniswap, Aerodrome, and other DEXs without leaving Coinbase and trade tokens tied to projects like Reserve Protocol and Virtuals AI Agents directly on-chain. This is self-custody and more token access in the post-FTX world.

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.

For traders, a dip to $116,500-$117,300 could be a long entry, with stops below $113,400. A confirmed breakout could set up a move to $130,000 driven by institutional inflows, regulatory clarity, and broader blockchain adoption.

New Presale Bitcoin Hyper ($HYPER) Combines Bitcoin Security With Solana Speed

Bitcoin Hyper ($HYPER) is the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), built to supercharge the Bitcoin ecosystem with fast, low-cost smart contracts, dApps, and meme coin creation.

By merging Bitcoin’s security with Solana’s performance, it unlocks powerful new use cases – all with seamless BTC bridging.

The project is audited by Consult and built for scalability, simplicity, and trust.

Investor interest is surging, with the presale already surpassing $7.7 million and only a small allocation remaining.

HYPER tokens are currently available at just $0.012575, but that price is set to rise in the next 3 days.

You can buy HYPER tokens on the official Bitcoin Hyper website using crypto or a bank card.