Bitcoin reached an all-time high near $125,000 last week but fell to $115,000 after investors took profits, triggering over $530 million in liquidations. The decline is attributed to macro concerns, including the upcoming Federal Reserve meeting and higher-than-expected July wholesale inflation data.
The crypto market tumbled as traders forced sold long positions, pushing prices lower. This resulted from investor profit-taking and the impact of the strategic bitcoin reserve clarification by Treasury Secretary Scott Bessent.
Crypto exchange Bullish fell 8.9% in midday trading, while some blue-chip coins like Coinbase and Galaxy Digital rose. Investors are watching the Fed’s annual economic symposium for clues about upcoming policy meetings and jobless claims data on Thursday.
A pullback this month may be a healthy cooldown rather than a reaction to crisis, thanks to support from crypto ETFs and companies accumulating bitcoin and ether. However, Bitcoin is hovering under the flat line for the month, while ether remains up 15%.
Source: https://www.cnbc.com/2025/08/18/crypto-market-today.html