Current BTC price and short-term fluctuations

Latest price: The closing price on August 12 was $120,172.91, with an intraday high of $120,302.47 and a low of $118,228.72, resulting in a daily increase of 1.23%. On August 11, it surged to $122,321.10 but failed to hold that level, closing back at $118,731.45.
Breakthrough historical high: On August 8, Bitcoin first broke through the $117,000 mark, reaching a historical high, with a 24-hour increase of 5.69%, and its market cap share rebounding to 43.2%.
Consolidation range: Recently, the price has repeatedly tested the range of $118,000–$122,000, with the technical aspect showing characteristics of "rally and pullback - consolidation."

Bull and bear power and technical patterns
Bullish Momentum
Key resistance challenge: Bulls attempted to break through $122,056 twice.
If it stabilizes successfully, it may open up upward space to $140,000.
Technical Support: $120,000 is seen by some analysts as a short-term strength and weakness dividing line. If it can be converted into a support level, it may drive the price to a new high.
Bearish signal
Divergence between price and volume: When the price rises, the trading volume does not significantly increase, but when the price falls, the trading volume is high, indicating the presence of selling pressure.
Decreasing momentum: The MACD histogram continues to shrink above the 0 axis, while the KDJ and RSI show signs of fatigue despite having some strength left. Some viewpoints suggest that we are currently in the "bullish peak stage."
The table below provides an overview of key price fluctuations in recent times (August 2025):

Date Highest Price ( USD ) Lowest Price ( USD ) Closing Price ( USD ) Daily Increase
August 12 120,302.47 118,228.72 120,172.91 +1.23%
August 11 122,321.10 118,159.03 118,731.45 -0.48%
August 10 119,320.71 116,485.17 119,306.76 +2.41%
August 8 117,689.20 115,917.46 116,688.73 -0.70%
Data source: Historical Price Table

Market sentiment and capital flow
Sentiment Indicator: The Cryptocurrency Fear and Greed Index reached 82 (Extreme Greed), reflecting that the market has entered a frenzy stage.

Institutional capital inflow: In the past week, net inflow into digital asset investment products reached $1.4 billion, with Bitcoin-related products accounting for 89%. American investors contributed 75% of the inflow. Institutions like BlackRock have increased their holdings in spot ETFs, triggering large buy orders (single orders exceeding $50 million).

On-chain signal: Whale addresses continue to accumulate, exchange inventory has dropped to a new low since 2020, and signs of tightening liquidity are beginning to appear.

🔮 4. Long-term Trends and Halving Cycle Verification
Halving cycle effect: The theory of Bitcoin's four-year price cycle has been validated again. Pantera Capital predicted in November 2022 (BTC around $17,000) that the price would reach on August 11, 2025.
biya is a global multi-asset trading wallet that allows users to easily exchange mainstream fiat currency for digital currency. It also offers convenient withdrawal solutions, effectively addressing issues of freezing and capital withdrawal. Users can easily convert to cash through the U platform. $117,482, actual closing price $118,747, with an error of only 1.5%, and an increase of over 600% compared to the periodic low.

Year-end expectations: Some analyses based on the growth of the money supply and the scarcity logic of BTC suggest that the price may reach $132,000 before the end of the year.

💎 Summary
Bitcoin has recently experienced volatile fluctuations at high levels, with intense battles between bulls and bears around the 120,000 USD mark. In the short term, attention should be paid to the effectiveness of breaking through the resistance at 122,000 USD and the accompanying volume situation. In the medium to long term, the trend remains positive due to continuous inflows of institutional funds and the support from the halving cycle. However, one should be cautious of the risks associated with high leverage (such as record highs in open futures contracts) and the potential for overbought pullbacks.