NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Bitcoin Price In A Trend Shift? Here’s Why $118K Might Be Vital For A Bullish Return

Opeyemi Sule
Opeyemi Sule
Last Updated: August 23, 2025 5:30 pm
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The price of Bitcoin has struggled to make any real headway since reaching the former all-time high around $123,800 in mid-July. While the premier cryptocurrency set a new record-high price at around $124,120, it never really looked certain to go on a fresh bullish run.

Over the past week, the market leader succumbed to severe bearish pressure, falling briefly beneath the $112,000 level on Thursday, August 21. However, the Bitcoin price—and the rest of the market—reacted positively to the speech of the US Federal Reserve (Fed) Chairman Jerome Powell on Friday, August 22.

A prominent on-chain analyst on the X platform has identified a price level that could be crucial to Bitcoin resuming its bullish trend.

What Does A Return Above $118,000 Mean For BTC?

In an August 23 post on social media platform X, crypto analyst Ali Martinez pinpointed $118,000 as the most important level for Bitcoin’s next course of action. According to the online pundit, the price of BTC needs to quickly reclaim this price level in order to return to its bullish tracks.

Related Reading

Bitcoin Slides Below $120K as Buyers Retreat, Is the Rally Already Over?

Bitcoin Slides Below $120K as Buyers Retreat, Is the Rally Already Over?

3 months ago

This relevant indicator here is the Glassnode MVRV (Market Value to Realized Value) Momentum indicator, which helps in identifying macro market trends. This metric consists of the MVRV ratio and the 70-day simple moving average (SMA). 

When the MVRV ratio breaks above this 70-day SMA, it indicates a transition into the bull market. Meanwhile, a break below the simple moving average signals a shift to the bearish phase.

Typically, strong breaks above the MVRV 70-day moving average imply that large volumes of Bitcoin were purchased below the current price, showing that the holders are now in profit (light area in the highlighted chart). On the other hand, a strong breach below the moving average suggests that large volumes of BTC were acquired above the current price, with the holders in the red (shaded area in the chart below).

Bitcoin price
Source: @ali_charts on X

As observed in the chart above and highlighted by Martinez, the Bitcoin price is witnessing a trend shift at the moment. The crypto analyst then suggested that the 70-day SMA is currently around the $118,000 region, with the MVRV ratio needing to break above the moving average for Bitcoin to return to bullish momentum.

Bitcoin Price At A Glance

As of this writing, the price of BTC stands at around $116,217, reflecting an over 2% increase in the past 24 hours. However, the flagship cryptocurrency is still down by more than 1% on the weekly timeframe.

Related Reading

XRP koers bereikt all-time high na goedkeuring crypto wetten in de U.S. – volgende target $10?

Analyst Puts XRP Cycle Top Above $20, But Says Price Must Hold Last Line Of Defense

3 months ago
Bitcoin price
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView
Tweet123Share196ShareSend
Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin, CZ, Trump : rumeurs de paiement pour une grâce présidentielle.

Bitcoin, CZ, Trump : rumeurs de paiement pour sa grâce

Changpeng Zhao, ex-patron de Binance, aurait payé Donald Trump en Bitcoin pour obtenir sa grâce présidentielle. À ce stade, rien...

evanss 5 hours ago
Bitcoin et ordinateurs quantiques : une menace réelle pour la sécurité ?

Bitcoin et ordinateurs quantiques : une menace réelle ?

L’expression fait frémir les marchés. Ordinateurs quantiques. À chaque annonce de Google, IBM ou Microsoft, la même question revient. Et...

guillaumev 6 hours ago
Bitcoin

Bitcoin’s Sudden Volatility Jump Signals Options Could Be Calling The Shots—Analyst

Bitcoin’s recent price swings have picked up pace, and market watchers say that option markets may again be calling the...

Christian Encila 7 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Creator Somehow Becomes ‘Poor’ By Losing $41 Billion Without Saying A Word

Christian Encila 2 minutes ago
Bitcoin Price Pauses for Breath

Bitcoin Price Recovery Loses Strength, Traders Watch $90K as Last Line of Defense

Aayush Jindal 1 hour ago
63K Bitcoin Exits Long-Term Wallets: A Surge of Speculative Short-Term Buying

63K Bitcoin Exits Long-Term Wallets: A Surge of Speculative Short-Term Buying

Sebastian Villafuerte 3 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後と注目ミームコインの購入候補

    ドージコイン...

    13 hours ago
  • リップル 今後の焦点:2.5億XRPの売却で投資家心理が揺らぐ中、注意すべき重要水準とは

    リップル...

    14 hours ago
  • 仮想通貨 プレセール注目:犬系ミームトークンが台頭する新たな市場領域

    仮想通貨...

    14 hours ago
  • 仮想通貨 おすすめ:12月利下げ観測が高まる中、市場下落は終わったのか?

    仮想通貨...

    14 hours ago
  • PIPPINが24時間で263%急伸──今注目すべき新しい仮想通貨となり得るのか

    ...

    14 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.