Bitcoin News Today: Bitcoin Bounces Back Above $119,000 After 2.33% Drop Amid PPI-Driven Volatility

Bitcoin rebounded above $119,000 on August 14, according to HTX market data, marking a brief recovery following a 2.33% 24-hour decline [1]. The price movement came after Bitcoin had previously touched an all-time high of $124,517 on August 12 but later settled into a tighter trading range. During the early hours of August 14, the cryptocurrency dipped as low as $117,719 before bouncing back above the $119,000 level [2]. The fluctuation underscored the ongoing volatility in the market, exacerbated by rising U.S. producer price index (PPI) data, which strengthened the U.S. dollar and exerted downward pressure on digital assets [1].

Despite the intraday swings, Bitcoin held firm near the $119,000 level in the following sessions. On August 13, the price remained in a narrow range around that level, having failed to close above the psychological $120,000 threshold the prior day. Traders are now closely watching for a decisive breakout, with the $120,000 mark seen as a critical level for near-term momentum [4]. Meanwhile, the broader crypto market showed a mixed performance, with altcoins outpacing Bitcoin at times. Ethereum, for instance, surged by nearly 29.5% over the same period, supported by a strong weekly gain of 4.4% [5]. Analysts have warned, however, that unless Ethereum can sustain these gains, it may face a pullback in the coming days [3].

Bitcoin’s market capitalization remained near $2.37 trillion, backed by a daily trading volume of approximately $45.59 billion [5]. The recent rebound took place amid moderate U.S. inflation data, which slightly reduced concerns over aggressive Federal Reserve rate hikes. The positive sentiment was reinforced by Bitcoin briefly surpassing $119,000 for the first time since the start of August [7]. However, its inability to maintain a strong close above $120,000 reflects lingering uncertainty among investors.

Looking ahead, Bitcoin’s trajectory is likely to be shaped by upcoming U.S. inflation reports and broader macroeconomic trends. If the price continues to consolidate near $119,000, it could attract increased institutional interest and stabilize the market. Conversely, a failure to break through key resistance levels may invite renewed bearish pressure. The market remains in a critical phase, with both short-term volatility and long-term fundamentals playing key roles in shaping investor sentiment.

Source:

[1] Bitcoin Volatility Strikes as Hot PPI Data Spurs Dollar Rally

https://news.bitcoin.com/bitcoin-volatility-strikes-as-hot-ppi-data-spurs-dollar-rally/

[2] Bitcoin.com News - X

https://x.com/BTCTN/status/1955972248621162603

[3] Ethereum outpaces crypto market with 41% monthly surge

https://m.economictimes.com/markets/cryptocurrency/ethereum-outpaces-crypto-market-with-41-monthly-surge-bitcoin-at-119k-should-you-buy/articleshow/123274597.cms

[4] Bitcoin Holds Near $119000 Ahead of US Inflation Data

https://margex.com/en/blog/bitcoin-holds-near-119000-ahead-of-us-inflation-data/

[5] Ethereum Surges 29.5% as Bitcoin Holds Above $119000

https://www.ainvest.com/news/bitcoin-news-today-ethereum-surges-29-5-bitcoin-holds-119-000-2508/

[7] Top 3 cryptocurrencies to watch post US CPI data release

https://www.fxstreet.com/cryptocurrencies/news/top-3-cryptocurrencies-to-watch-post-us-cpi-data-release-202508121655