Bitcoin had a pretty amazing day on Friday, shooting up over 5% to hit $117,300 after Jerome Powell from the Federal Reserve basically hinted that they might cut interest rates in September. This was huge news that got everyone excited about crypto again.
BITCOIN JUST CONFIRMED THE STRONGEST REVERSAL PATTERN
Bitcoin completed an Inverse Head & Shoulders.
Retest confirmed.
Breakout isn’t a question. It’s a countdown.The next leg won’t stop at resistance.
It will send $BTC straight into price discovery. pic.twitter.com/7PYm8oi2Kf— Merlijn The Trader (@MerlijnTrader) August 22, 2025
The move was so strong that it completely wiped out people who were betting against Bitcoin. About $379 million worth of short positions got liquidated, which means those traders lost big time when the price went up instead of down like they expected.
What’s really interesting is how this all started from Bitcoin hitting some pretty low levels earlier. The price had dropped to around $111,600 just before this rally began, which some smart traders saw as a great buying opportunity.
Michael van de Poppe, who runs MN Capital, had actually told people to watch for exactly this kind of move. He said the “uptrend is back” after Bitcoin swept through those low levels and then immediately shot higher. It’s like the market was just waiting for the right moment to explode upward.
Now analysts are getting pretty bullish again. Some are even talking about Bitcoin potentially hitting $200,000 before the end of this year, especially with all the policy changes happening around crypto retirement plans.
Conclusion
Bitcoin’s big jump shows the Fed’s words can move crypto prices fast. When interest rates might drop, people get excited and start buying again.
Also Read: Bitcoin’s High Predictions
