Bitcoin News Today: Bitcoin Falls 2.29% to $115,650 as Key Support Levels Tested

Bitcoin continued to face downward pressure on August 18, 2025, as the cryptocurrency market turned bearish, with Bitcoin (BTC) falling 2.29% to trade at $115,650 [1]. The price is now testing critical support levels, with $114,955 identified as a key threshold for potential recovery [2]. Analysts warn that a failure to hold above this level could trigger further declines, potentially pushing the price down to $114,000 or even $112,000 by the end of the week [3].

The market selloff has been amplified by macroeconomic uncertainties and expectations of aggressive monetary easing policies, which have driven Bitcoin below $115,000 during Monday trading [4]. On the technical chart, Bitcoin is currently hovering near the 50-day EMA, which has acted as an immediate support line [1]. A breakdown of the rising wedge pattern could signal deeper selling pressure, with further declines expected if key levels are breached [4].

Market activity also reflects growing bearish sentiment, with over $500 million in liquidations recorded across major exchanges [1]. Other major cryptocurrencies, including Ethereum and XRP, are also experiencing downward momentum [1]. Meanwhile, the broader altcoin market has seen significant declines, with Bitcoin Cash (BCH) and Cosmos (ATOM) dropping to $563.20 and $4.42 respectively [5][6].

Despite the negative momentum, analysts remain cautiously optimistic, noting that the $112,000 level could serve as a critical support should the downward trend continue [7]. The 30-day Coin Days Destroyed (CDD) metric indicates a decline in large holder selling activity, suggesting that the market is gradually absorbing long-term holder exits [6]. Additionally, Bitcoin’s hashing power increased by 4% in early August, pointing to continued network security despite the price drop [3].

From a short-term trading perspective, the SOPR (Spent Output Profit Ratio) metric highlights potential entry points for traders looking to capitalize on positive-profit selling activity [6]. However, the broader market remains in a consolidation phase, with Bitcoin effectively trapped within a $112,000 to $117,000 range [7]. Analysts are closely watching key support levels for signs of a potential reversal or a continuation of the downward trend [3].

The cryptocurrency market is currently in a testing phase, with Bitcoin’s ability to hold above $114,955 crucial for near-term stability. A sustained break below this level could signal further declines toward $112,000, reinforcing the bearish sentiment that has gripped the market [2]. Investors are advised to monitor these levels closely, as any significant movement could shape the immediate trajectory of Bitcoin’s price action [1].

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Source:

[1] Crypto Today: Bitcoin, Ethereum, XRP Risk Further Losses as Liquidations Cross $500 Million (https://www.fxstreet.com/cryptocurrencies/news/crypto-today-bitcoin-ethereum-xrp-risk-further-losses-as-liquidations-cross-500-million-202508181127)

[2] Bitcoin Dropped to $115,000 on Macro-Economic Concerns (https://www.economies.com/crypto/news/bitcoin-drops-to-$115,000-on-macro-economic-concerns-47126)

[3] Bitcoin Trapped in $112K–$117K Range Ahead of Key FOMC Decision (https://www.ainvest.com/news/bitcoin-news-today-bitcoin-trapped-112k-117k-range-key-fomc-decision-2508/)

[4] Bitcoin Price Rising Wedge Breakdown: How Low Can BTC Go? (https://www.bitget.com/news/detail/12560604917604)

[5] Bitcoin Cash (BCH) Drops to $563 as Market Correction Erases (https://blockchain.news/news/20250818-bitcoin-cash-bch-drops-to-563-as-market-correction-erases)

[6] ATOM Price Drops 5% as Cosmos Tests Critical Support at $4.38 (https://blockchain.news/news/20250818-atom-price-drops-5-as-cosmos-tests-critical-support-at-438)

[7] Bitcoin Hashrate Increased 4% in Early August (https://m.economictimes.com/crypto-news-today-live-18-aug-2025/liveblog/123350562.cms)