Price: Approximately $117,748, a modest dip from recent levels.
24-hour movement: Generally down by 0.8% to 1.2%, depending on the exchange—Coinbase reports –0.84
Recent Volatility Recap
Record high reached: Bitcoin surged past $124,000—hitting around $124,496
Quick pullback followed: On August 15, BTC slid back to the $119,200–$119,300 range—a ~2% drop
Today’s trend: Continued pressure has pushed it further down near $117.5K to $118K levels
What’s Driving the Price Movement?
Inflation worries: U.S. wholesale (producer) price data came in hotter-than-expected, triggering concerns that the Fed may delay interest rate cuts, dampening risk-on assets like Bitcoin
Profit-taking & liquidations: Following the record highs, investor profit-taking, over $1 billion in liquidated leveraged positions, and crypto ETF outflows further weighed on BTC sentiment
Market fundamentals: Despite recent pullbacks, institutional inflows, favorable U.S. crypto regulatory developments, and positive sentiment around the upcoming halving event continue to provide underlying support
Summary Table
Metric Details
Current Price ~$117,748 (down ~0.8–1.2% 24h)
Recent High ~124,496 in mid-August 2025
Recent Drop ~2–5% pullback to ~$119–117K
Key Triggers U.S. inflation data, leveraged liquidations, ETF outflows
Supporting Factors Institutional interest, ETF approvals, halving anticipation, regulatory tailwinds
Outlook & What to Watch
Stabilizing or further dip? Will Bitcoin consolidate around $117K–$118K, or could weakening sentiment push it lower?
Fed policy signals: Next hints on interest rate strategy could significantly impact Bitcoin’s risk-on appeal.
Technical resistance: $124K remains a strong hurdle; a clear break above could reignite bullish momentum.
Institutional flow & on-chain activity: Renewed buying by institutions or elevated network activity could signal a turnaround.
Bitcoin extends rally, hits record high above $124,000
