Bitcoin Price Surges 2% as Analyst Eyes $133,000 According to Pricing Bands

Highlights:

• Bitcoin price surges 2% to $121 310, as its daily trading volume soars 29%.
• BTC’s new addresses have hit their highest in a year, as 364,126 addresses are created daily.
• Crypto analyst predicts a rally to $133,000 if $112,000 zone holds, according to pricing bands. 

Bitcoin price has shown remarkable strength, surpassing the 120K mark, currently up 2% to $121,310. The daily trading volume has notably soared 29% to $79.02 billion, indicating heightened market activity. Meanwhile, there is a tremendous increase in the number of new Bitcoin addresses opened, and there are 364,126 new addresses created per day. 

364,126 new Bitcoin $BTC addresses created daily, the highest in a year! pic.twitter.com/GJTzrT3Yo9

— Ali (@ali_charts) August 11, 2025

This is the most significant number of new Bitcoin addresses created within one year. According to the chart posted by Ali Martinez, the trend has witnessed a huge bulk starting around late July, and it keeps increasing as the month of August goes by.

Bitcoin Price Targets $130,000 After Breaking Above $120,000

On the other hand, the Bitcoin derivatives market demonstrates that the trading volume and open interests have increased drastically. The overall 40.13% jump in volume to $95.20 billion indicates increased investor confidence. There has also been an increase in the open interest of 5.78% to $83.72 billion. This shows that there is a growth in the number of participants in leveraged trade and the futures contracts. In addition, the volume of options has soared 235.28% demonstrating a huge rise in the act of speculating in the market.

Long to short positions are also an important market sentiment reading. The position of long-to-short during the last 24 hours has reached 1.03, which means a rather even market that is occupied by bullish and bearish traders. What is more, there is considerable volatility in the market according to liquidation data. An amount of liquidations worth $115.89 million has been performed in the past 24 hours.  Most of them show a greater tendency towards short positions ($107.16 million).

The low liquidation price is evidence of the price volatility that Bitcoin has undergone recently. Since the market is still volatile, these liquidation initiatives present a situation where the traders might require an adjustment to overcome the fluctuations in prices.

A quick look at the daily chart timeframe, Bitcoin price has rebounded in the consolidation channel. Currently, the BTC price is trading at 121,310, about 1.26% from BTC’s ATH at $123,231. The bulls are notably having the upper hand, as they have established strong support at $114,163(50-day SMA) and $99,830(200-day SMA).

The Relative Strength Index (RSI)notably shows strong bullish sentiment, as it sits at 65.06. This shows intense buying pressure in the market, but yet to be overbought. 

Is $133,000 Next for BTC?

BTC has maintained strong momentum, moving past $120,000 and now trading around $121,310. The move has been supported by strong buying pressure and the fact that the price is well above the 50-day and 200-day moving averages, two important indicators of trend strength. If BTC breaks through the $123K resistance level, it could pave the way for a push toward 130,000. Meanwhile, crypto analyst Ali Martinez has noted that if BTC holds above $112,000, it could rally to $133,000 according to pricing bands.

$133,000 is next for Bitcoin $BTC if it holds $112,000, according to the Pricing Bands. pic.twitter.com/Jp6x6IvoT4

— Ali (@ali_charts) August 10, 2025

On the other hand, if the rally loses steam, the nearest support lies around $119,635 with a stronger floor at $116,877. These levels could act as buying zones if the price dips.