Bitcoin News Today: Bitcoin Surges to $124,533 Then Drops 4% Amid Policy Uncertainty and Market Volatility

Cryptocurrency prices faced volatility in early August amid macroeconomic headwinds and shifting investor sentiment. Bitcoin (BTC), the largest digital asset, surged to a record high of $124,533 on August 14 but subsequently lost over 4% in the following session. Despite this pullback, BTC rebounded slightly by the next trading session, gaining nearly 1% to trade at $119,101 [1]. The decline initially followed comments from US Treasury Secretary Scott Bessent, who claimed the government would not acquire additional Bitcoin. However, he later clarified that the administration was still exploring budget-neutral pathways to buy BTC [2].

Ethereum (ETH) also struggled to maintain upward momentum, failing to break above $4,800. The asset fell as low as $4,482 during intraday trading before rebounding to $4,650. Analysts remain cautiously optimistic, with some predicting a potential move toward $5,000 by the end of August. Technical indicators suggest that ETH must stabilize above $4,600 to confirm a bullish trend [3]. Institutional interest and on-chain metrics are seen as key drivers for further gains.

Solana (SOL), one of the fastest-growing altcoins, dipped below $200 after surging past that level earlier in the week. The token reached a high of $201 on August 14 before retreating to $194. Despite short-term volatility, SOL continues to attract attention, particularly from public companies seeking to participate in staking rewards. Analysts note that a retest of the $200 level will be critical in determining its near-term direction [4].

Uniswap (UNI), the native token of the decentralized exchange, experienced mixed trading activity. It reached an intraday high of $12.02 on August 12 but dropped over 10% the following day to $10.87. The token recovered slightly in the subsequent session, trading around $10.98. The price remains in a consolidative phase, with traders watching for a clear breakout [5].

In institutional and regulatory news, Coinbase Institutional’s global head of research, David Duong, suggested that the market may be entering an altcoin season, with over 75% of the top 50 altcoins by market capitalization outperforming Bitcoin in the past 90 days. Bitcoin dominance fell to 59% in August, signaling a potential shift in capital flow to alternative cryptocurrencies [6].

Meanwhile, South Korea’s Dunamu, operator of the Upbit exchange, announced a partnership with Vietnam’s MB Bank to launch the country’s first licensed cryptocurrency exchange. The collaboration aims to leverage Dunamu’s technology and expertise while adhering to Vietnam’s newly passed Law on Digital Technology Industry, which formalizes the regulation of digital assets [7].

The market remains sensitive to macroeconomic indicators, particularly the US Producer Price Index (PPI), which rose 3.3% in July, fueling concerns about inflationary pressures. The CME FedWatch tool showed a decline in the implied probability of a Federal Reserve rate cut in August from 67% to 61%, indicating reduced confidence in aggressive monetary easing [8].

TradingView data shows that Bitcoin’s price action has shown both resilience and fragility, with leveraged long positions amounting to $227 million being liquidated following a drop below $118,000. Analysts remain divided on whether these price swings signal a broader trend or short-term noise [9].

Despite the current bearish sentiment, market participants continue to watch for signs of institutional adoption, particularly in Ethereum and Solana, as key catalysts for the next phase of the crypto bull market.

Sources:

[1] https://cryptodaily.co.uk/2025/08/crypto-price-analysis-8-15-bitcoin-btc-ethereum-eth-solana-sol-uniswap-uni