Bitcoin has broken free from its triangle formation, signaling a bullish continuation in price action as per analysis by Matrixport. This breakout was observed on August 12, 2025, and is supported by the price exceeding $116,817, though this remains above previous support levels like the $111,944 mark. Analysts highlight a focus point at the $122,282 peak, which showcases strong buyer interest in the short-term. Matrixport’s analysis expects continued upward momentum, although caution is exercised regarding potential volatility. The upcoming US CPI release on August 15, 2025, may dampen expectations of two rate cuts this year, but Matrixport predicts a gradual climb rather than a sharp surge, given the typical quieter season for market activity.