Bitcoin remains in a crucial trading range as it awaits the release of the U.S. Consumer Price Index (CPI) data on August 12, 2025. A recent analysis from Bitfinex Alpha suggests the asset is poised for a breakout to all-time highs or a potential retest of the $110,000 support level [1]. The report highlights that Bitcoin has already reclaimed the $112,000 support after an August 1 breakdown, with prices briefly surging above $119,500 and maintaining the upward momentum as of press time [1].
The market’s reaction to macroeconomic events has intensified, making the upcoming CPI data a pivotal moment for BTC’s short-term direction [1]. The price has repeatedly tested the $115,800 resistance without success, a pattern that indicates ongoing consolidation before a decisive move [1].
The recent shift in ETF flows has played a notable role in stabilizing the market. From July 31 to August 5, spot Bitcoin ETFs experienced significant net outflows of over 1,500 BTC, valued at approximately $1.45 billion, marking the largest four-day selling stretch since April 2025 [1]. However, since August 5, the net inflows have surged to $769 million, signaling renewed investor confidence. According to the report, these ETF movements are closely tied to macroeconomic developments, and the current recovery could determine whether Bitcoin breaks above recent range highs or faces a pullback [1].
Institutional adoption has also contributed to a more stable market environment. The combined net asset value of crypto treasury companies has risen steadily since early April, reaching near all-time highs above $90 billion [1]. This reflects a broader trend of institutional players treating cryptocurrencies as strategic reserves rather than speculative assets. Meanwhile, Bitcoin’s dominance has seen a recent decline, hinting at a shift in speculative capital toward altcoins ahead of the CPI release [1].
Bitcoin is currently trading above the short-term holder cost basis of $106,709, placing it in a mid-phase bull market scenario characterized by a “warm but not overheated” market environment [1]. The report notes that 45% of recently acquired BTC has been sold for profit, while 70% of the short-term holder supply remains in the green. This balanced distribution of gains and volatility suggests continued price fluctuations around key macroeconomic data points [1].
At the time of press on August 11, 2025, at 9:49 pm UTC, Bitcoin ranked 1 by market cap with a price of $119,072.49, reflecting a 0.33% increase over the past 24 hours. The cryptocurrency’s market capitalization stood at $2.37 trillion, with a 24-hour trading volume of $91.18 billion [1]. The total crypto market was valued at $3.96 trillion with a 24-hour volume of $214.68 billion, and Bitcoin’s dominance was at 59.83% [1].
Despite the risk of a retracement toward $110,000, the broader structural outlook remains constructive, supported by institutional accumulation and resilient spot demand [1]. The market is expected to remain in a consolidation phase, with prices oscillating between key resistance and support levels as investors await the CPI data. The outcome could either confirm the bull case or trigger a retest of critical support, making the upcoming macroeconomic release a decisive factor for Bitcoin’s trajectory.
Source: [1] New all-time highs or $110,000 retest trigger: Bitcoin awaits CPI data release (https://cryptoslate.com/new-all-time-highs-or-110000-retest-trigger-bitcoin-awaits-cpi-data-release/)
