Bitcoin News Today: Bitcoin Whales Stay Calm as Market Trembles in Profit-Taking Zone

Bitcoin’s price dipped below $120,000 this week following a record high of $124,496, as market participants took profits and macroeconomic concerns weighed on sentiment. The decline marked a 2% drop, with the price briefly falling as low as $114,706, according to market data. Ether also fell, dropping 4% to $4,283.15 after reaching near its historical peak of $4,800. The correction was driven by a combination of profit-taking, rising macroeconomic uncertainty, and a lack of strong catalysts to sustain the recent rally.

Over the past 24 hours, over $576 million in long positions were liquidated, including $124 million in bitcoin and $184 million in ether, as traders were forced to sell assets to meet margin requirements. These liquidations intensified as the cryptocurrency market reacted to higher-than-expected U.S. wholesale inflation data, which cast doubt on the likelihood of a Federal Reserve rate cut in September. The broader market also experienced deleveraging, with more than $1.7 billion in long crypto futures positions being liquidated since the previous week’s peak, as noted by multiple data platforms.

Analysts have flagged the current valuation of bitcoin as a potential “mild danger zone,” with the Market Value to Realized Value (MVRV) ratio at +21%, signaling an elevated risk of profit-taking. Santiment, a cryptocurrency sentiment platform, noted that this level increases the probability of a pullback, even if it does not represent extreme overvaluation. The platform also emphasized that the largest bitcoin holders, or “whales,” have not sold during the rally, suggesting continued confidence in higher price levels.

The market remains in a consolidation phase as investors await key macroeconomic developments, particularly the Federal Reserve’s decisions. With 83.6% of market participants expecting a rate cut on September 17, as per the CME FedWatch Tool, the outcome of the Jackson Hole Economic Symposium and upcoming jobless claims data will be closely watched. Bitunix analyst Dean Chen suggested that if the Fed adopts a cautious stance, bitcoin may trade within a $115,000–$120,000 range in the short term.

Despite the pullback, bitcoin and ether ETFs continued to attract net inflows, with ether funds seeing a record $2.9 billion in inflows for the week. This trend indicates ongoing institutional and corporate support for the market, even amid volatility. However, some analysts have warned that a correction may be overdue given the six-week uptrend in prices. Historical patterns in previous halving cycles suggest that bitcoin often experiences a price discovery correction after five to seven weeks of gains, with a 15% pullback not uncommon. Rekt Capital, a prominent crypto analyst, noted that the current week marks the seventh of a potential seven-week uptrend, increasing the likelihood of a near-term correction.

Source: [1] crypto-market-today (https://www.cnbc.com/2025/08/18/crypto-market-today.html) [2] bitcoin-price-danger-zone-consolidation-profit-takers-analysts (https://cointelegraph.com/news/bitcoin-price-danger-zone-consolidation-profit-takers-analysts) [3] bitcoin-ethereum-slip-as-crypto-markets-pull-back-after-hitting-2025-highs-155818704 (https://finance.yahoo.com/news/bitcoin-ethereum-slip-as-crypto-markets-pull-back-after-hitting-2025-highs-155818704.html) [4] bitcoin-risks-2025-correction-btc-price-uptrend-starts-7th-week (https://cointelegraph.com/news/bitcoin-risks-2025-correction-btc-price-uptrend-starts-7th-week) [5] bitcoin-chart-in-euros (https://bitflyer.com/en-eu/bitcoin-chart)