Recent Bitcoin price action has traders on edge, with BTC hovering just under $115,000 after briefly surpassing that mark. This indicates that market sentiment is heating up, and many are waiting for this signal, preparing for another leg up on the BTC USD chart.
While
Bitcoin
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Bitcoin
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$64,231.88
1.29% /24h
Volume in 24h
$16.50B
Price 7d
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is currently trading around $114,500 mark, whale activity is high, institutional inflow is pouring, and macro signals like the upcoming CPI are in favour of BTC. Long-term narrative is becoming clearer and clearer, and it is for the next leg up.
Bitcoin Price is Preparing for Next Leg Up
Currently, Bitcoin may sit at 114,500, but pressure is building up beneath the surface, and it is preparing to break out like a violent volcanic eruption. On the 6th of August, it briefly touched the $115,600 mark, confirming strong demand at a key psychological level.
While it is a slight pullback, we can see that bullish momentum is forming up and it is a strong one. Over the past year, Bitcoin has nearly doubled from the $59k level, and the trend is still strong from back in 2023.1
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Market sentiment is leaning heavily bullish, with data from ETF inflows showing that 6,5% of supply is bought above $115k. Multiple outlets and internet personas are predicting targets between $120-150k incoming in recent weeks.
Looks like recent ATH is acting as strong support, and not only that, but BTC is consolidating below support with higher lows. If it holds above this range, a breakout could be imminent.
The macro picture adds even more fuel to the fire. The U.S. CPI report on August 12 could trigger another wave of risk-on buying if inflation cools off. Soft labor data and potential Fed rate shift mimic conditions in Q3 2024, just before a major rally event. While a dip to $112k is not off the table, all signs point toward Bitcoin preparing for the next leg up.
We got US CPI on 12 Aug, Tue and PPI on 14 Aug, Thu, which could add some more fuel to the fire.
— Aped⚡️in⚡️Crypto (@apedintocrypto) August 6, 2025
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