Bitcoin rose to $ 122,000

On Monday, August 11, bitcoin BTC $120,173.80 Bitcoin 1.22% Market capitalization $2.39 trillion VOL. 24 hours $2.8 billion exceeded the $ 122,000 mark after finding support at $ 120,080 on Sunday night. During the day, the cryptocurrency rose by about 3% and approached the high of $ 123,218 recorded on July 14.

Technical indicators indicate that the bullish momentum is still there: the daily RSI is at 65, well above the neutral 50, and the MACD showed a bullish crossover on Monday. Analysts do not rule out further growth, but warn that if the rate is lost, the price could fall to support around $ 116,000.

Additional demand for bitcoin is generated by political changes in the United States and capital inflows into institutional instruments. Last week, President Donald Trump signed a decree instructing the Department of Labor to work on the possibility of investing 401(k) pension plans in cryptocurrencies, private equity, and other alternative assets. According to experts, this could open millions of new accounts for bitcoin and significantly increase demand.

According to market data, over the past week, spot bitcoin ETFs have raised $ 253 million, and ethereum ETH $4,191.59 Bridged Ether (StarkGate) -0.03% Market capitalization $0.11 billion VOL. 24 hours $2.25 billion has raised $ 461 million, the highest since December 2021. Such interest from institutional investors persists despite some correction after the July highs.

In global markets, investors are focused on US inflation statistics and key trade events. This week will see the release of the Consumer Price Index (CPI) on Tuesday and the Producer Price Index (PPI) on Thursday, as well as the results of negotiations on the extension of the US-China trade truce and discussions with Russia. In Europe and emerging markets, there is a positive trend amid a weaker dollar.