Gate Research Institute: Bitcoin's market capitalization surpasses Amazon to rank sixth globally | ZKJ rises 79.47% in a day, attracting followencryption asset panorama
BTC (1.64% | Current Price 121,248 USDT)
The BTC price has experienced a strong surge after a period of consolidation, currently breaking through the $121,200 mark and setting a new high of $121,260.3 in this round of increases. The short-term moving averages (MA5, MA10) have clearly turned upward and are in a bullish arrangement, with the price significantly above MA30, indicating ample short-term bullish momentum. The large bullish candlestick suggests a concentrated explosion of buying power, and if it can steadily stay above $121,000 in the short term, it is expected to maintain its upward trend. However, one should be cautious of short-term overbought conditions and the risk of profit-taking at high levels. If the price falls below $120,000 and trading volume decreases, a technical correction may occur to adjust the indicators. Overall, the trend leans towards strength, but chasing the market requires careful control of pace and risk.
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GateResearch·2025-08-11 10:29