Bitcoin Price Drops 4% to $117,460 Despite Record High as Inflation Data Triggers Correction
The post Bitcoin Price Drops 4% to $117,460 Despite Record High as Inflation Data Triggers Correction appeared on BitcoinEthereumNews.com. James Ding Aug 16, 2025 11:06 BTC trades at $117,460 after falling from $124,480 record high. Bitcoin technical analysis shows neutral RSI amid mixed momentum signals. Quick Take • BTC currently trading at $117,460 (-1.31% in 24h) • Bitcoin’s RSI at 51.21 signals neutral momentum after volatile week • Record high of $124,480 followed by 4% correction on inflation concerns What’s Driving Bitcoin Price Today? The BTC price experienced dramatic volatility this week, reaching a new all-time high of $124,480 on August 14th before surrendering gains following U.S. wholesale inflation data. The correction brought Bitcoin down approximately 4% to current levels around $118,000, highlighting the cryptocurrency’s sensitivity to macroeconomic indicators. Treasury Secretary Scott Bessent’s statements on August 14th initially created uncertainty in the market. His clarification that the U.S. government isn’t planning immediate Bitcoin purchases, followed by his comments about remaining “open to acquiring more bitcoin through budget-neutral pathways,” contributed to mixed sentiment. This regulatory ambiguity occurred precisely as the BTC price was testing new highs. The Federal Reserve rate cut expectations that helped propel Bitcoin to record levels were temporarily overshadowed by inflation concerns. Despite the short-term pullback, institutional demand remains robust, with spot ETF inflows and the new executive order allowing crypto in 401(k) retirement plans providing underlying support for the BTC price trajectory. BTC Technical Analysis: Neutral Signals Emerge Bitcoin technical analysis reveals a market in consolidation after the recent rally and subsequent correction. The BTC RSI currently sits at 51.21, positioning Bitcoin in neutral territory and suggesting neither overbought nor oversold conditions. This reading indicates potential for movement in either direction based on upcoming catalysts. The MACD indicator shows bullish momentum with a positive histogram reading of 7.5330, suggesting underlying buying pressure despite the recent price decline. Bitcoin’s…
The post Bitcoin Price Drops 4% to $117,460 Despite Record High as Inflation Data Triggers Correction appeared on BitcoinEthereumNews.com.
James Ding Aug 16, 2025 11:06 BTC trades at $117,460 after falling from $124,480 record high. Bitcoin technical analysis shows neutral RSI amid mixed momentum signals. Quick Take • BTC currently trading at $117,460 (-1.31% in 24h) • Bitcoin’s RSI at 51.21 signals neutral momentum after volatile week • Record high of $124,480 followed by 4% correction on inflation concerns What’s Driving Bitcoin Price Today? The BTC price experienced dramatic volatility this week, reaching a new all-time high of $124,480 on August 14th before surrendering gains following U.S. wholesale inflation data. The correction brought Bitcoin down approximately 4% to current levels around $118,000, highlighting the cryptocurrency’s sensitivity to macroeconomic indicators. Treasury Secretary Scott Bessent’s statements on August 14th initially created uncertainty in the market. His clarification that the U.S. government isn’t planning immediate Bitcoin purchases, followed by his comments about remaining “open to acquiring more bitcoin through budget-neutral pathways,” contributed to mixed sentiment. This regulatory ambiguity occurred precisely as the BTC price was testing new highs. The Federal Reserve rate cut expectations that helped propel Bitcoin to record levels were temporarily overshadowed by inflation concerns. Despite the short-term pullback, institutional demand remains robust, with spot ETF inflows and the new executive order allowing crypto in 401(k) retirement plans providing underlying support for the BTC price trajectory. BTC Technical Analysis: Neutral Signals Emerge Bitcoin technical analysis reveals a market in consolidation after the recent rally and subsequent correction. The BTC RSI currently sits at 51.21, positioning Bitcoin in neutral territory and suggesting neither overbought nor oversold conditions. This reading indicates potential for movement in either direction based on upcoming catalysts. The MACD indicator shows bullish momentum with a positive histogram reading of 7.5330, suggesting underlying buying pressure despite the recent price decline. Bitcoin’s…
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