Bitcoin News Today: Bitcoin's Chart May Echo 2021, but Bulls Still Have a Plan

Bitcoin’s price action in late August 2025 has drawn comparisons to its behavior in November 2021, the last cycle top before the onset of a bear market. Technical analysts have noted the emergence of a double top pattern on Bitcoin’s price chart, reminiscent of the 2021 cycle peak, with similar price levels and consolidation periods before a potential bearish reversal [1]. The most recent 24-hour performance saw Bitcoin fall 4.3% after touching a new all-time high of $124,100 on August 15, reinforcing concerns that a bearish reversal may be unfolding [1].

The pattern has prompted a mixed response from traders and analysts. Some argue that the fractal-like similarities in price behavior suggest history may be repeating, with Bitcoin potentially forming a topping pattern ahead of a sharp correction [1]. Analyst Benjamin Cowen has observed that post-halving years tend to follow a cyclical trend: a rally in July-August, a pullback in September, and a final push toward the cycle top in Q4 before a bear market follows [1]. However, others caution that technical analysis alone may not be reliable in today’s market environment. Trader Kale Abe emphasized that the real drivers are institutional demand and the capacity of crypto treasury firms to continue absorbing Bitcoin, pointing to data showing $150.98 billion of Bitcoin held by publicly traded treasury companies [1].

Bitcoin’s dominance has also seen a decline, dropping 6.55% over the past 30 days as altcoin markets show signs of reinvigoration. Ethereum (ETH), for instance, is currently trading near its all-time high, having gained nearly 19% over the past week [1]. This trend challenges the narrative of a broader bearish market and suggests that a full-scale bear market may not materialize in the immediate term. Meanwhile, veteran trader Peter Brandt has reiterated that price charts should not be used to predict future price movements but rather to understand where the price has been and where it stands today [1].

On the technical side, Bitcoin recently broke below a rising wedge pattern on the daily chart, a bearish reversal formation that suggests further downside could be on the horizon [2]. The breakdown below this pattern has triggered renewed bearish sentiment among traders, with some projecting that Bitcoin could fall as low as $88,000 if the pattern completes its full bearish trajectory [2]. A more conservative target is $94,750, mirroring the 2021 double top scenario, where Bitcoin fell from $69,000 to below $16,000 [2]. These technical indicators are compounded by on-chain data showing a decline in whale holdings, suggesting profit-taking and increased selling pressure at the recent highs [2].

However, not all analyses are bearish. Institutional demand and macroeconomic factors may provide a counterbalance to technical weaknesses. The recent $51 million purchase of 430 BTC by Strategy, a major Bitcoin treasury firm, highlights the continued accumulation by institutional players. This purchase brings the company closer to owning 3% of Bitcoin’s total supply [3]. At the same time, expectations of a Federal Reserve rate cut in September could provide a liquidity boost to the market, potentially offsetting some of the bearish pressure [2]. Additionally, ongoing ETF inflows into spot Bitcoin ETFs have exceeded $158 billion in assets, a sign of growing institutional adoption and confidence in Bitcoin as a hedge against traditional market volatility [4].

In the broader macroeconomic landscape, Bitcoin is increasingly being positioned as a superior safe-haven asset compared to gold. Analysts note that Bitcoin has outperformed gold in recent weeks, with gold declining nearly 2% while Bitcoin consolidated near $118,000 [4]. Robert Kiyosaki, author of Rich Dad Poor Dad, has publicly called Bitcoin “the people’s money,” emphasizing its role as a hedge against inflation and government-controlled financial systems. While gold and silver remain part of his investment strategy, he argues that Bitcoin’s digital scarcity and ease of transfer make it a more efficient wealth preservation tool [4].

Looking ahead, the price trajectory of Bitcoin will likely depend on a combination of technical patterns, institutional demand, and macroeconomic conditions. A retest of the $105,000 level is considered likely before any potential push toward a new all-time high near $135,000 [4]. Analysts remain divided, with some suggesting a bearish continuation and others pointing to structural bull trends driven by reduced supply post-halving and growing institutional adoption.

Source: [1] Bitcoin charts are similar to the 2021 top: Will history rhyme? (https://cointelegraph.com/news/bitcoin-top-signal-price-chart-similar-2021-history-repeat) [2] Bitcoin Price Rising Wedge Breakdown: How Low Can ... (https://cointelegraph.com/news/btc-price-rising-wedge-breakdown-how-low-can-bitcoin-go) [3] Strategy Adds $51M in Bitcoin, Nears 3% of Total BTC ... (https://www.bitcoinsensus.com/news/bitcoin/strategy-adds-dollar51m-in-bitcoin-nears-3percent-of-total-btc-supply) [4] Bitcoin (BTC) Price Prediction: Bitcoin Set to Outperform ... (https://bravenewcoin.com/insights/bitcoin-btc-price-prediction-bitcoin-set-to-outperform-gold-as-kiyosaki-hails-it-as-peoples-money)