Bitcoin has executed an upward breakout from a triangle formation according to Matrixport’s “Chart of the Day” analysis released on August 12, 2025. The upward trajectory remains robust as long as Bitcoin stays above the critical $116,817 mark. Its strong movement during Asian trading sessions faces challenges from profit-taking in Europe and the US, creating an intricate balance.
What Signals the Recent Bitcoin Rally?
Matrixport analysts maintain that Bitcoin’s breakout past $116,817 signals bullish momentum, marking a significant move in its climb to $122,282. The analysis describes an optimistic trend, despite existing risks. Buyers and sellers are likely concentrating their efforts around these levels.
Will CPI Data Affect Bitcoin’s Path?
CPI data, set to be published at 15:30 Turkish time, might impact predictions of two interest rate cuts expected later in the year. Despite potential CPI surprises, the price trend is expected to rise slowly instead of rapidly, reflecting a cautious bullish outlook.
Ongoing capital injections into the cryptocurrency market showcase continued confidence. Market flows have been noted from diverse channels, subtly supporting upward tendencies.
Matrixport stated, “Capital inflows persist, rewarding patience among investors who maintain discipline.”
Considering these factors, investors are advised to monitor specific levels closely:
- The crucial resistance point remains at $116,817, setting a benchmark for continued upward movements.
- Support levels are established at $111,944, with deeper support at $106,000, providing a safety net for downward fluctuations.
In the months to come, Bitcoin’s trajectory hinges on numerous influencing factors including CPI outcomes and geopolitical developments. These elements could shape the cryptocurrency’s unfolding narrative as investors keep a vigilant eye on macroeconomic signals.
