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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Can Bitcoin Reclaim Its All-Time High? Analyst Points To Key Level For A Comeback

Opeyemi Sule
Opeyemi Sule
3 hours ago
2 mins read
Bitcoin price

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Created by industry experts and meticulously reviewed
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The Bitcoin price has been enjoying some form of resurgence over the past week, returning above the significant $115,000 level again. The premier cryptocurrency briefly crossed the $117,000 mark on Friday, August 8, capitalizing on recent bullish developments in the United States.

On Thursday, August 7, United States President Donald Trump signed an executive order allowing cryptocurrency investment in 401(k) plans. The Bitcoin price rallied on the back of this positive development and looks set to continue this ascent back to its current all-time high.

Why 118,000 Might Be Crucial For Bull Run Resumption

In a recent post on the social media platform X, prominent crypto analyst Titan of Crypto put forward an interesting outlook for the Bitcoin price over the coming days. According to the current setup, the flagship cryptocurrency could be on its way back to its record-high price of around $122,800.

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Titan of Crypto highlighted that the Bitcoin price has been on an upward trend since April 2025 and recently just bounced off the ascending trendline. Also, the market leader has filled the Fair Value Gap (FVG), a liquidity void often created by a sharp movement in price.

However, the Bitcoin price seems to be approaching a critical level around the Kijun-sen (blue line) from the Ichimoku Cloud indicator. The Kijun-sen, also known as the Base Line, often represents the market’s equilibrium and can act as a key support and resistance level.

Bitcoin Price
Source: @Washigorira on X

As shown in the chart setup above, the market leader has climbed back above the Tenkan-sen (red line), which is an indicator of early momentum shift. Meanwhile, the Kijun-sen (hovering around $118,000) appears to be the only obstacle in the way of Bitcoin returning to its all-time-high price within the $123,000 region.

However, a sustained close above the “blue line” could suggest a resumption of the bull run for the price of BTC. Moreover, the Chikou Span (orange line), which is a lagging indicator, remains in the bullish zone, supporting a broader uptrend narrative for the market leader.

Bitcoin Price Overview

As of this writing, the price of Bitcoin stands at around $116,880, with no significant movement in the past 24 hours. This sluggishness does not adequately reflect the coin’s activity over the past week. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% on the weekly timeframe.

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Bitcoin price
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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