Bitcoin hits new all-time excessive in a number of markets globally, eyes $131,000 in August

Bitcoin’s latest rally has seen the main digital asset breach $122,000, although it nonetheless falls wanting its July 2025 peak of $123,000.

Based on CryptoSlate’s knowledge, Bitcoin rose by over 3% up to now 24 hours, reaching a excessive of $122,321 earlier than barely retracing to $120,749 on the time of writing.

Regardless of the minor pullback, Bitcoin has already reached new all-time highs in a number of world markets, surpassing earlier information in native currencies.

Based on CoinMarketCap knowledge, Bitcoin has breached the £90,000 mark within the UK and reached new highs in international locations like Canada, Japan, India, Argentina, Nigeria, and Pakistan.

Vincent Liu, CIO of Kronos Analysis, informed CryptoSlate that this efficiency reveals that world liquidity and momentum are strengthening throughout markets.

Based on him:

“[Bitcoin is] already hitting new peaks in kilos, pesos, and different fiats. With shifting foreign money dominance past the greenback, world liquidity and momentum are strengthening throughout world markets.”

When will Bitcoin break one other excessive in USD?

Contemplating Bitcoin’s world efficiency, Praevisio, a Bitcoin analyst, stays bullish on BTC’s future worth.

Praevisio famous that Bitcoin’s latest uptrend has swept up all resting liquidity, created a big CME hole on the way in which up, and established recent demand zones.

Attributable to this, Praevisio’s month-to-month outlook for the highest crypto is constructive. He forecasts a 90% probability of BTC reaching $131,000 this month and estimates a 23% probability of revisiting the month-to-month low.

Alternatively, analysts at Bitunix alternate informed CryptoSlate that macroeconomic components, together with the upcoming launch of the Client Value Index (CPI) and Moody’s potential recession forecast for the US, may affect market sentiment and shift BTC’s worth trajectory within the quick time period.

Nonetheless, Bitunix analysts consider that if BTC maintains its robust quantity and closes above $120,000, it may goal $124,000 to $127,000 subsequent.

Conversely, ought to Bitcoin fail to carry the $120,000 assist or kind an extended higher wick, a retracement to $116,000 to $114,000 is probably going.