Bitcoin Price Prediction As Trump’s Executive Order Unlocks $9T in Retirement Capital- Is Breakout Above $123K Imminent?

Bitcoin price trades at $116,678 today, August 8, with a 1.9% gain in 24 hours. The gains come amid a wide range of catalysts, with the top one being the signing of a pro-crypto executive order by President Donald Trump. Amid the rally, bullish patterns have been created, suggesting that getting to the all-time high of $123,000 might be in the cards for BTC. 

Bitcoin Price to Surge as a $9 Trillion Tailwind Emerges

One of the top drivers for Bitcoin price is that President Trump has signed an executive order on crypto. This move will make it possible and easy for retirement funds to invest in digital assets like Bitcoin, Ethereum, and XRP. 

This is a major decision as these funds currently hold trillions of dollars in assets. The estimate is that these funds holds over $9 trillion in assets spread across assets like gold, bonds, and stocks. 

Not all the $9 trillion will be invested in Bitcoin. However, even a rotation of just 0.5% of these assets to Bitcoin would be a big windfall worth about $45 billion. 

The announcement comes as the BTC price has other catalysts. For example, the cumulative inlows into spot Bitcoin ETFs since inception in 2024 is over $55 billion. 

Bitcoin price is also benefiting from the ongoing treasury wave that has seen over 100 companies allocate 961,760 coins worth $112 billion into Bitcoin. More firms have allocated funds to other cryptocurrencies like Solana, Ethereum, and Binance Coin. 

Further, economists believe that the Federal Reserve will start to change its tune on interest rates after the weak non-farm payrolls (NFP) data released last Friday. Companies added just 73,000 workers, a figure that will likely drop. 

Per Polymarket, the possibility that the FOMC will slash rates next month has jumped to 79%. Some Fed officials like Lisa Cook, Neel Kashkari, and Christopher Waller have signaled that they are supportive of cuts to prevent further downturn.

Bitcoin Price Eyes $123,000 and Above

The 12-hour timeframe reveals that BTC has formed a few chart patterns that will trigger more gains this month. For example, the coin formed an ascending triangle pattern, which is made up of a horizontal resistance and a diagonal trendline. In this case, the resistance is at $111,822, its highest level in May. 

Bitcoin price has also created a bullish flag pattern. This pattern consists of a flagpole and a descending channel. It usually leads to more gains, which will likely happen now that it has retested the support at $111,822. A breach and revisit often leads to more rally.

The other bullish Bitcoin price catalyst is that it has remained above the rising trendline that connects the lower lows since April. It is also getting support from the 100-period moving averages. 

Therefore, the most likely BTC price forecast 2025 is positive. The first price target will be the psychological point at $120,000, and then a move to the all-time high of $123,118. 

However, a drop below the key support at $111,000 will cancel the bullish Bitcoin outlook and point to more downside..