Bitcoin Price Climbs to $121 After Saylor Backs Growth of Ether and Other Cryptos

The Bitcoin price has pumped 3.82% in the last 24 hours, to trade at $121,820.31, on a 33.82% increase in the daily trading volume, to $73.92 billion.

BTC Price Moves Higher After Saylor’s Support

Bitcoin price climbed 3% this week. Michael Saylor, a famous supporter of Bitcoin and executive chairman of Strategy, shared positive views on the market. He appeared on Bloomberg and said there is a wave of new ideas in crypto, including Ethereum and other coins. 

At the same time, he reiterated that Bitcoin remains his primary focus. His company, Strategy, is the biggest Bitcoin holder in the world, with more than 628,000 BTC. These coins are worth about $74 billion. Saylor believes Bitcoin will keep beating the S&P 500 and often calls it “digital capital”.

After Saylor’s remarks, investors grew more optimistic about the crypto market. He praised Ether and other tokens but said Bitcoin remains his top pick. Ether’s price jumped over 23% in the past month to above $4,200, lifting the mood across cryptocurrencies.

His comments showed how strong voices can boost markets. Bitcoin demand has slowed compared to its last big rally but remains solid. Large buyers, including funds and ETFs, are still accumulating, keeping sentiment positive. On-chain data shows many public companies continue to hold large amounts of Bitcoin.

Bitcoin Holds Firm Above $108K Despite Profit-Taking

However, in August 2025, some caution signs appeared. Long-term holders and big investors took profits, leading to outflows from Bitcoin ETFs and exchanges. Between mid-July and early August, short-term holders sold more than 160,000 BTC.

BTC Exchange Reserve Source: Cryptoquant

Ultimately, the market is experiencing a brief pause, rather than a sharp decline. As long as the price stays above support between $108,000 and $112,000, positive momentum can continue.

BTC Price Hits Record $120K as Bulls Maintain Strong Momentum

Bitcoin’s price is rising, shown by the blue candles on the chart. Prices have been going up almost every month since early 2023. The price is now above $120,000, which is a new high, with the candles showing that the uptrend is strong.

At the bottom, the MACD lines are far above zero. The blue line is above the orange line. This means buyers have more power now. The histogram bars are also positive, which is another sign that the trend is strong and still going up.

BTCUSD Analysis Source: Tradingview

The RSI is at 74, which is very high. This tells us the market is overbought. This means the price has gone up quickly, and sometimes a small pullback might come. But for now, bulls remain in control as long as RSI stays high.

The chart shows the price keeps making higher lows, as seen with the red line under the candles. This makes a triangle shape. The top is around $122,000. If Bitcoin can break above this line, it could go much higher. If it falls, the $52,000 area is strong support.