Ah, yes, Bitcoin. The world’s largest cryptocurrency has decided to grace us with another moment of glory, crossing the $122,000 mark early on Wednesday. It gave us all a little thrill, entering the fabled realm of price discovery before, of course, doing what Bitcoin does best – cooling off. But don’t get too comfortable, folks. This wasn’t just a casual stroll to the top. Over $500 million evaporated from leveraged positions in just 24 hours. A classic, really. 🤑
Bitcoin is preparing for another run at new all-time highs, source: Bitcoin Liquid Index
Ethereum Inches Toward Its Own Record
Meanwhile, Ether (ETH) had a little party of its own, climbing to $4,726 – a level not seen since December 2021. This is a mere $150 away from all-time highs. How quaint. The corporate big shots are getting their wallets ready. Blockchain firm BitMine raised a cool $20 billion to gobble up some ETH. In case you missed it, institutional trades made up 75% of Coinbase’s total volume on Tuesday. This isn’t just a hype train anymore, folks. We’re talking big-money players jockeying for position in what could be the next wave of the crypto bull cycle. 🚀
$120K Support Holds – $126K Becomes the Bullseye
For Bitcoin, crossing the $120,000 mark wasn’t just a victory lap – it’s now solid support. According to analyst Rekt Capital, Bitcoin’s breakout from the Bull Flag is confirmed. Brace yourselves, because a shot at new all-time highs might just be around the corner. 😎
His magic number? $126,000. A solid close above that could unleash a new wave of price discovery. The bulls are watching this like hawks. 🦅
For Ether, Rekt Capital says the crucial support line for a sustained move into record-breaking territory is $4,631. Keep an eye on that level, folks.
If Bitcoin can convincingly break ~$126,000, there’s a good chance the price will skyrocket. wrote Rekt Capital on X
What’s Next?
Both Bitcoin and Ethereum are now driven by a perfect storm of institutional demand, short squeezes, and technical setups that favor the bulls. But beware, resistance lies ahead, and the overleveraged traders are still getting shaken out like a bad cocktail. So, what’s the next move? It’s either a smooth breakout – or a painful fake-out. 🍸
But here’s the thing: the next big battle for Bitcoin will be at $126,000. And if it wins? Well, the road ahead could just be wide open for the taking. Or not. Who knows? 🤷♂️
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2025-08-13 23:07