Bitcoin News Today: Bitcoin Faces Triple Threat as Whales Sell, Fed Cuts Loom, and Short Traders Bet Big

Bitcoin's price has shown mixed technical and onchain signals ahead of the VanEck Mid-August 2025 Bitcoin ChainCheck, with the cryptocurrency fluctuating in the $115,000–$117,000 range. As of August 19, 2025, the price of 1 BTC was valued at $115,469, marking a 0.4% increase from the previous day. Over the last 24 hours, Bitcoin’s trading volume reached $34.9 billion, indicating continued high liquidity across exchanges. Despite the recent gains, the broader crypto market has experienced a pullback from record highs amid profit-taking and shifting macroeconomic expectations.

Technical analysts have highlighted bearish patterns emerging in Bitcoin’s price trajectory. A breakdown from a rising wedge formation on the daily chart, as noted by analyst Captain Faibik, suggests the potential for further downward movement toward $110,000–$112,000. If the price continues to decline, it could reach as low as $88,000, according to a calculation based on the wedge’s height. Additionally, a double top pattern forming around the $123,000–$125,000 range raises the likelihood of a 20% correction from the recent high, potentially pushing the price toward $98,000–$100,000 by September.

Onchain metrics also indicate increased selling pressure from large holders. The number of mega whale addresses—wallets holding more than 10,000 BTC—has dropped to its lowest level of the year, while addresses holding between 1,000 and 10,000 BTC have also seen a decline. This suggests that institutional and high-net-worth investors are actively reducing their positions, possibly locking in gains after the recent rally. The combined influence of these onchain signals and bearish technical patterns increases the risk of a broader pullback if spot demand does not strengthen.

However, macroeconomic factors could offset some of the downward pressure on Bitcoin in the near term. Unlike in 2021, when Bitcoin's peak coincided with Federal Reserve tightening, the current cycle is more likely to see a rate cut in September. According to CME data, market participants are pricing in a 25-basis-point rate cut, which could provide a floor for Bitcoin and other digital assets. Moreover, the growing global money supply (M2) remains supportive of Bitcoin’s price, with some analysts projecting a potential target of $132,000 in the coming months.

Market sentiment has also turned increasingly bearish, with speculative traders building record short positions, particularly in Ethereum. Data from the CME Group reveals that Ether (ETH) traders have formed the largest-ever leveraged short position, suggesting heightened expectations of a price decline. Bitcoin traders are also showing signs of bearish positioning, with key short liquidation levels set around $116,500. These trends could lead to a short squeeze in the near term, potentially pushing prices higher if long-side buyers step in.

Overall, the VanEck Mid-August 2025 Bitcoin ChainCheck comes at a pivotal moment for the market, as technical and onchain indicators point to increased volatility and potential downside risks. Investors are closely watching the outcome of the upcoming Jackson Hole symposium for any hints regarding the Federal Reserve's policy direction, which could significantly influence Bitcoin’s short-term trajectory. In the absence of strong spot demand, Bitcoin may continue to consolidate within the $115,000–$120,000 range before breaking out decisively in either direction.

Source:

[1] BTC to USD: Bitcoin Price in US Dollar (https://www.coingecko.com/en/coins/bitcoin/usd)

[2] Bitcoin Price Rising Wedge Breakdown: How Low Can ... (https://cointelegraph.com/news/btc-price-rising-wedge-breakdown-how-low-can-bitcoin-go)

[3] Bitcoin, ethereum slip as crypto markets pull back after hitting ... (https://finance.yahoo.com/news/bitcoin-ethereum-slip-as-crypto-markets-pull-back-after-hitting-2025-highs-155818704.html)

[4] Bitcoin vs. Ethereum: Which Cryptocurrency Is the Best ... (https://finance.yahoo.com/news/bitcoin-vs-ethereum-cryptocurrency-best-125000570.html)

[5] Bitcoin, Ether set for squeeze as traders go record short ... (https://cointelegraph.com/news/bitcoin-ether-eye-short-squeeze-as-traders-build-largest-ever-eth-short)