Bitcoin price displays strength as it heads towards a new all-time high, driven by historical bullish trends and robust on-chain data. Investors are closely monitoring BTC amid mounting concerns over inflation, especially with the imminent release of US inflation figures.
Bitcoin has recorded a solid 3.5% increase in 24 hours, approaching its all-time high of $123,000. After consolidating around $115,000 last week, the bulls are taking control again. The return of the “Golden Cross” pattern reinforces analysts’ optimism, who are anticipating targets of $130,000 and beyond.
According to Benjamin Cowen, BTC could close August on a positive note, following historical trends. But with key inflation data approaching, investors remain vigilant.
On-chain data confirms the network’s strength : 364,126 new BTC addresses are being created daily, a one-year high. This dynamic reflects growing demand, supporting Bitcoin’s bullish potential.
Forecasts predict a 0.3% increase in the US Consumer Price Index (CPI) in July, indicating that inflationary pressures persist. Tariffs imposed by Donald Trump are already affecting consumer prices, particularly in furniture and leisure sectors. In this context, companies are seeking to limit the impact for price-sensitive customers.
Bitcoin confirms its status as a safe-haven asset against inflation and economic uncertainties. Driven by a bullish trend and favorable macroeconomic data, it appears ready to target new heights.
Here’s a guide to obtaining Bitcoin before its potential rise to $130,000 in August :
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