Bitcoin News Price Update

Bitcoin's Steep Fall: Will $100,000 Be the Next Stop?

by Crypto Hobby

Updated August 21, 2025

Bitcoin (BTC) is experiencing a significant downturn, shedding 8.5% from its recent all-time high of $124,128 reached on August 14th. The cryptocurrency is now trading below $114,000, currently at $113,597. This correction has impacted the broader crypto market, with substantial liquidations occurring across exchanges.

Key Takeaways

Bitcoin has fallen 8.5% from its recent peak of $124,128.
The cryptocurrency is currently trading at $113,597.
Higher-than-anticipated producer price index (PPI) data is a key factor in the market correction.
Investors are closely watching the Federal Reserve's Jackson Hole meeting for monetary policy clues.
Despite the current dip, some analysts predict a new all-time high by November.

Bitcoin's Price Plunge and Potential Support Levels

Bitcoin's price has seen a 1.3% drop in the last 24 hours, with a 4.8% decline over the past week. Analysts suggest that BTC might find support around the $112,000 mark. However, a breach below $110,000 could trigger investor panic, potentially driving the price down to $100,000.

Market Liquidations and Economic Factors

The recent market correction has led to significant liquidations, with over $450 million being liquidated from the crypto market in the past 24 hours. The largest single liquidation order was for Bitcoin (BTC)/USDT on Binance, valued at $9.70 million. This downturn is largely attributed to higher-than-expected producer price index (PPI) numbers, which have fueled concerns that the Federal Reserve might not cut interest rates as anticipated.

Impact of the Jackson Hole Meeting

The market correction may also be influenced by investor anticipation of the Federal Reserve's Jackson Hole meeting. Financial markets, including Bitcoin and other riskier assets, are expected to experience price fluctuations as investors seek guidance on upcoming U.S. monetary policy. Bitcoin and similar assets have shown more pronounced corrections compared to more stable financial instruments.

Future Outlook for Bitcoin

Despite the current bearish trend, some analysts remain optimistic about Bitcoin's future. CoinCodex analysts predict that BTC could break out soon and reach a new all-time high of $142,040 by November 15th. This would represent a rally of approximately 25% from its current trading levels.