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Bitcoin is poised for a potential surge to $123,000, driven by robust institutional backing and technical strength. On August 6, 2025, London-based Satsuma Technology raised $217.6 million, with $125 million settled in Bitcoin, marking a landmark for UK corporate crypto adoption. Backed by Pantera Capital, Kraken, and UK funds managing £300 billion, the oversubscribed round signals strong confidence in Bitcoin’s role in corporate treasuries and decentralized AI infrastructure via Bittensor. Satsuma now holds 1,126 BTC, valued at $128.66 million, making it the UK’s second-largest corporate Bitcoin holder.
Technically, Bitcoin’s successful retest of the 100-day Simple Moving Average (SMA) near $114,000 confirms bullish momentum. This support, coupled with an inverted head-and-shoulders pattern, suggests a breakout past $120,800 could target $123,236, Bitcoin’s all-time high from July 14, 2025. Analysts like Merlijn The Trader note that a weekly close above $119,500 could ignite a rally toward $148,000 by year-end, fueled by whale accumulation and ETF inflows, which drive 41% of Bitcoin’s 2025 price action.
Despite a 14% drop in Satsuma’s stock post-announcement, attributed to profit-taking, the raise underscores growing institutional interest. Michigan’s pension fund recently tripled its Bitcoin ETF exposure, and Japan’s potential Bitcoin-XRP ETF adds global momentum. However, risks remain: a dip below $110,000 could see Bitcoin retest $101,000, and macro shocks from Federal Reserve policies could disrupt momentum.
With Bitcoin trading at $114,551 on August 7, 2025, and ETF inflows rebounding to $91.5 million, the path to $123,000 looks promising if volume and institutional support persist.
