Bitcoin Surges to $121,000 Level Today (August 11): Where is BTC Headed Next?

Updated

August 11, 2025

Gambar Bitcoin Surges to $121,000 Level Today (August 11): Where is BTC Headed Next?

Jakarta, Pintu News – Bitcoin price remained stable over the weekend, rising to the critical resistance level of $118,000 as various factors driving price increases emerged.

Bitcoin was trading around $118,500 at last check Sunday, up sharply from last week’s low of $112,000. This trend is likely to continue this week, and observers expect new record highs.

Then, how is the current Bitcoin price movement?

Bitcoin Price Rises 2.56% in 24 Hours

bitcoin price today — Source: Pintu Market

On August 11, 2025, Bitcoin’s price stood at $121,907 or equivalent to IDR 1,964,965,444, marking a 2.56% gain over the past 24 hours. During the day, BTC dipped to a low of IDR 1,903,460,741 and climbed to a high of IDR 1,969,411,291.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $2.42 trillion, with trading volume in the last 24 hours rising 21% to $72.46 billion.

Bitcoin was trading around $118,500 at last check Sunday, up sharply from last week’s low of $112,000. This trend is likely to continue this week, and observers expect new record highs.

Bitcoin Price to Reach ATH as Bullish Flag Pattern Activates

According to Crypto News (10/8), the daily chart shows that the price of BTC has formed a bullish flag pattern, which often precedes strong price spikes. This pattern started forming on June 22 when it hit a low of $98,320 and an all-time high peak of $123,200, with a high of nearly $25,000.

This flag pattern is forming, which is characterized by a descending channel. Currently, there are signs that the price will break above the upper side of the flag.

The price target in a bullish flag pattern is calculated by adding the height of the flag to the breakout point, which in this case is at $117,000. The addition of the two numbers results in a price target of $142,000.

Another factor driving Bitcoin’s price is its position that remains above the 100-day exponential moving average. Bitcoin has also formed a break-and-retest pattern by dropping to the support level at $112,000, which was the previous record high.

Key indicators also point to further upside potential in the short term. The Relative Strength Index (RSI) has surged and broken the neutral point at 50. Other oscillators, such as MACD and MFI, are also showing an uptrend.

US Central Bank Cuts ETF Expectations and Fund Flows

Bitcoin price has potential catalysts that could propel it to record highs this week. For example, data shows that American investors continue to accumulate Bitcoin.

ETF fund flows surged by more than $246 million last week, a huge reversal from the $643 million net outflow in the previous week.

The surging demand for Bitcoin, including from treasury companies, comes as supply on exchanges plummets to its lowest level in years, which is a bullish signal.

Meanwhile, the chances of the Federal Reserve starting to cut interest rates in its September meeting have increased. These odds surged after the US released weak non-farm payroll data earlier this month.

The odds are likely to increase if the US releases weaker-than-expected consumer price index (CPI) data on Tuesday. Economists expect the data to show that headline CPI rose to 2.8% in July as the impact of tariffs begins to be felt.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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