Bitcoin is holding above $112,000 as blockchain adoption grows in traditional markets. The US Department of Commerce announced that Chainlink (LINK) and Pyth (PYTH) will provide official US economic data like GDP and PCE Price Index directly onchain.
Pyth will provide 5 years of historical GDP data and Chainlink will provide 6 macroeconomic indicators across multiple chains including Ethereum and Avalanche. This will increase transparency and open up new opportunities in risk management, lending, DeFi and prediction markets.
We're excited to announce that Chainlink and the United States Department of Commerce (@CommerceGov) have worked together to bring U.S. government macroeconomic data onchain.https://t.co/qHIw8DyEgX
These new Chainlink Data Feeds securely deliver critical information around key…— Chainlink (@chainlink) August 28, 2025
This has boosted confidence in Bitcoin as traders see it as another step towards institutions getting closer to crypto.
El Salvador’s $1B Bitcoin Target
El Salvador’s Bitcoin bet is back in the spotlight. President Nayib Bukele shared market predictions that the country’s BTC holdings could reach $1B by the end of 2025.
Currently, El Salvador holds 6,282 BTC, worth over $709 million. Prediction markets reacted quickly: Kalshi odds of hitting $1 billion before November surged from 20% to 38% before settling at 27%, while Polymarket showed 43% odds of the milestone by December 2025.
BULLISH: President Bukele teased on X about pushing El Salvador’s $BTC stash to $1B. pic.twitter.com/JgWHUm9415
— Cointelegraph (@Cointelegraph) August 28, 2025
Despite reports that BTC purchases slowed after a $1.4 billion IMF loan, Bukele confirmed acquisitions remain ongoing. Traders see the sovereign bet as a signal of institutional confidence, helping Bitcoin maintain momentum above $112,000.
Key takeaways:
- El Salvador holds 6,282 BTC (~$709M).
- Odds of reaching $1B BTC holdings in 2025 rose sharply.
- Market optimism strengthened BTC support above $112K.
Trump-Backed Bitcoin Miner Joins Nasdaq
Adding fuel to Bitcoin’s adoption story, American Bitcoin, a mining firm backed by Eric and Donald Trump Jr., will list on Nasdaq this September through a merger with Gryphon Digital Mining.
The all-stock deal gives Hut 8 an 80% stake, while the Trump brothers and partners will control about 98% of the new entity. With backing from the Winklevoss twins, the firm is exploring mining expansion in Hong Kong and Japan.
NEW: American Bitcoin, backed by Eric Trump, Donald Trump Jr, and Hut 8, is set to go public on Nasdaq via merger with Gryphon Digital Mining.
The new entity will trade under ABTC in early September, with Trump brothers and Hut 8 owning 98%. pic.twitter.com/MJLSQX05N3— Satoshi Club (@esatoshiclub) August 28, 2025
For traders, the listing signals that Bitcoin’s influence is reaching deeper into politics and Wall Street, reinforcing institutional momentum at a time when BTC is pressing against key resistance.
Bitcoin Price Forecast – Technical Outlook
Bitcoin trades near $112,300, testing the upper boundary of a descending channel. Resistance looms at $116,850, a level that has capped rallies since August. A breakout could unlock $120,900–$124,450.
Momentum is firming. The RSI is at 55, recovering from oversold territory, while the MACD has turned bullish. Long lower wicks near $111,000 suggest dip buyers remain active, weakening bearish conviction.
If BTC fails to stay above the 50-SMA at $111,563, downside risks extend toward $108,695 and $105,150. However, a confirmed breakout above $116,850 with strong volume would mark the first clean trend reversal in weeks.
For traders, the playbook is clear: aggressive bulls may target $120K-$124K, cautious investors may wait for confirmation. With ETF inflows back and institutional backing growing, Bitcoin’s structure is tightening up and a breakout is near – one that could propel the long term run to $130K and beyond.
Presale Bitcoin Hyper ($HYPER) Combines Bitcoin Security With Solana Speed
Bitcoin Hyper ($HYPER) is positioning itself as the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM). Its goal is to expand the Bitcoin ecosystem by enabling lightning-fast, low-cost smart contracts, decentralized apps, and even meme coin creation.
By combining Bitcoin’s unmatched security with Solana’s high-performance framework, the project opens the door to entirely new use cases, including seamless BTC bridging and scalable dApp development.
The team has put strong emphasis on trust and scalability, with the project audited by Consult to give investors confidence in its foundations.
Momentum is building quickly. The presale has already crossed $12.5 million, leaving only a limited allocation still available. At today’s stage, HYPER tokens are priced at just $0.012815—but that figure will increase as the presale progresses.
You can buy HYPER tokens on the official Bitcoin Hyper website using crypto or a bank card.
Click Here to Participate in the Presale
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