Bitcoin climbed to $120,185 today, adding over 1.30% in 24 hours on a robust $81.65 billion trading volume. The world’s largest cryptocurrency now commands a $2.39 trillion market cap, with just under 20 million coins in circulation.
MicroStrategy co-founder Michael Saylor, whose firm holds 628,791 BTC worth $74.21 billion, is once again fueling bullish sentiment. In a recent post, he suggested that relentless BTC accumulation is the surest path to wealth.
Market watchers are reading it as a hint at further large-scale buys — a move that could set the stage for Bitcoin’s next leg toward the $1 million mark.
Saylor’s Growing Bitcoin Bet
Saylor’s portfolio tracker shows 61.04% lifetime gain on MicroStrategy’s Bitcoin holdings with an average cost basis of $73,290 per coin. They’ve been buying consistently over the years, especially during dips, and are now the largest corporate Bitcoin holder.
If you don't stop buying Bitcoin, you won't stop making Money. pic.twitter.com/G9S2gPO1t8
— Michael Saylor (@saylor) August 10, 2025
This aggressive accumulation strategy comes amid tightening Bitcoin supply, as halving events and increasing institutional interest reduce available liquidity. If MicroStrategy or other whales keep buying at this pace, market scarcity could intensify — a dynamic that historically drives prices sharply higher.
Bitcoin (BTC/USD) Technical Outlook Points Higher
Bitcoin is breaking out of a bullish flag pattern, a classic continuation signal. Price has taken out the $118,500 flag resistance with strong buying and a daily close. The 50-day EMA at $114,140 is still holding as support, and the trend is intact.
#Bitcoin Technical Outlook
BTC breaks out of bullish flag above $118.5K, holding 50EMA $114.14K support.
RSI 62, MACD bullish crossover.
Targets: $123.25K, $127K
Invalidation: Close < $117.3K#BTC #Crypto #BitcoinPrice pic.twitter.com/AFqMeypxN1— Arslan Ali (@forex_arslan) August 11, 2025
On the Fibonacci retracement from $98,194 to $123,248, BTC has reclaimed the 23.6% level at $117,335 which is now a support base.
Key momentum indicators are confirming:
- RSI 62.64, rising but not overbought.
- MACD bullish crossover with increasing histogram.
A close above $120,000 could open up $123,250 and potentially $127,000.
Bitcoin Trade Setup and Risk Levels
For traders eyeing this move, the breakout structure offers a clear plan:
- Entry: On confirmed daily close above $120,000
- Stop-Loss: Below $117,300
- Take-Profit 1: $123,250
- Take-Profit 2: $127,000
- Bias: Bullish while above $117,300
A drop back inside the flag pattern would invalidate the breakout and refocus attention on $114,000 EMA support. Volume confirmation will be key for sustained momentum.
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The post Bitcoin Price Prediction: Billionaire Michael Saylor Hints at Huge Buy – $1 Million BTC Next Target appeared first on Cryptonews.
