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U.S. Federal Reserve in Washington .(Jesse Hamilton/CoinDesk)
Crypto Trends

Fragility or Back on Track? BTC Holds the Line at $115K

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Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin BTC$115,432.18 traded just above $115k in Asia Tuesday morning, slipping slightly after a strong start to the week.

The modest pullback followed a run of inflows into U.S. spot ETFs and lingering optimism that the Federal Reserve will cut rates next week. The moves left traders divided: is this recovery built on fragile foundations, or is crypto firmly back on track after last week’s CPI-driven jitters?

That debate is playing out across research desks. Glassnode’s weekly pulse emphasizes fragility. While ETF inflows surged nearly 200% last week and futures open interest jumped, the underlying spot market looks weak.

Buying conviction remains shallow, Glassnode writes, funding rates have softened, and profit-taking is on the rise with more than 92% of supply in profit.

Options traders have also scaled back downside hedges, pushing volatility spreads lower, which Glassnode warns leaves the market exposed if risk returns. The core message: ETFs and futures are supporting the rally, but without stronger spot flows, BTC remains vulnerable.

QCP takes the other side.

The Singapore-based desk says crypto is “back on track” after CPI confirmed tariff-led inflation without major surprises. They highlight five consecutive days of sizeable BTC ETF inflows, ETH’s biggest inflow in two weeks, and strength in XRP and SOL even after ETF delays.

Traders, they argue, are interpreting regulatory postponements as inevitability rather than rejection. With the Altcoin Season Index at a 90-day high, QCP sees BTC consolidation above $115k as the launchpad for rotation into higher-beta assets.

The divide underscores how Bitcoin’s current range near $115k–$116k is a battleground. Glassnode calls it fragile optimism; QCP calls it momentum. Which side is right may depend on whether ETF inflows keep offsetting profit-taking in the weeks ahead.

(CoinDesk)

Market Movement

BTC: Bitcoin is consolidating near the $115,000 level as traders square positions ahead of expected U.S. Fed policy moves; institutional demand via spot Bitcoin ETFs is supporting upside

ETH: ETH is trading near $4500 in a key resistance band; gains are being helped by renewed institutional demand, tightening supply (exchange outflows), and positive technical setups.

Gold: Gold continues to hold near record highs, underpinned by expectations of Fed interest rate cuts, inflation risk, and investor demand for safe havens; gains tempered somewhat by profit‑taking and a firmer U.S. dollar

Nikkei 225: Japan’s Nikkei 225 topped 45,000 for the first time Monday, leading Asia-Pacific gains as upbeat U.S.-China trade talks and a TikTok divestment framework lifted sentiment.

S&P 500: The S&P 500 rose 0.5% to close above 6,600 for the first time on Monday as upbeat U.S.-China trade talks and anticipation of a Fed meeting lifted stocks.

Elsewhere in Crypto

  • Coinbase App Store ranking suggests retail still on sidelines despite crypto rally (The Block)
  • Robinhood Expands Private Equity Token Push With New Venture Capital Fund (CoinDesk)
  • Strategy Adds $60 Million to Bitcoin Treasury in Smallest Buy in a Month (Decrypt)



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GameFi Guides

How a GameStop Shopper Won $115K in Bitcoin From a $13 Pack of Cards

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In brief

  • A collector recently walked away with 1 BTC from a $13 pack of cards purchased from GameStop.
  • The card came in via card manufacturer Cardsmiths’ Currency Series, which contains cards redeemable for real cryptocurrency.
  • The pull marks at least the third overall 1 BTC find in the last year.

GameStop doesn’t sell Bitcoin (though it does hold BTC)—but one patron recently scored a full Bitcoin, valued at nearly $115,000 today, after opening a pack of cards purchased at the retailer. 

Nestled in a pack of Cardsmith’s Currency trading cards, an Arizona-based collector recently unveiled a 1 BTC card, which comes with a redemption code that entitles the holder to claim a full Bitcoin. The top cryptocurrency is currently trading just under $115,000, as of this writing.

“I didn’t think it was a serious possibility,” the anonymous collector told card manufacturer Cardsmiths.

Cardsmiths’ Currency series cards offer redemption cards for Bitcoin, Ethereum, Litecoin, and Dogecoin–with the biggest redemption offerings being for 1 BTC or 1 ETH.

Collectors can purchase the packs of currency-themed cards for as low as $13.25 apiece (based on the size of the pack bundle), with 1:192 odds of pulling a crypto redemption—resulting in more than an 865,000% gain based on today’s Bitcoin price.

The recent pull marks at least the third full Bitcoin redemption in the last year via Cardsmiths, with other lucky collectors pulling full Bitcoin cards from $33 and $50 packs, respectively. 

Though entitled to the full Bitcoin, the most recent collector said they are only keeping 0.5 BTC of it thanks to a pledge they made on Reddit prior to pulling the card.



“First, let me introduce myself: I’m the crazy Ape who made a promise a while back that some of you may vaguely remember,” the Reddit user named decoparts posted to the Currencytradingcards subreddit. “To recap: I was documenting my pulls from a bunch of S4 Currency cards I had saved up, and I pledged that I would give half of the after-tax value to a charity, out of whatever crypto I found.”

“Boy, was I in for a lesson on backing up my promises and putting my money where my mouth is,” they added.

Though Cardsmiths’ Series 4 Currency cards are all sold out online, its most recent SPACE Series holds unredeemed full Bitcoin cards, with packs that sell for as little as $13.75 via its online store. 

The odds of walking away with crypto remain long though, with only 1 of every 192 packs expected to provide a crypto redemption card—the same odds the recent lucky collector faced. 

A representative for Cardsmiths did not immediately respond to Decrypt’s request for comment.

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Bitcoin steady at $115K as whales buy despite ETF outflows
GameFi Guides

Bitcoin steady at $115K as whales buy despite ETF outflows

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Bitcoin is holding near the $115,000 mark after a week of choppy price action, with exchange-traded fund outflows weighing on sentiment even as whale wallets quietly expand their holdings. 

Summary

  • Bitcoin trades near $115,00, down 3% this week and 2.5% this month, sitting 7% below its all-time high.
  • ETF activity reversed with $121M in daily outflows.
  • Whales accumulated 20,000 BTC, adding to over 225,000 BTC since March, a trend often linked with price recovery.

Bitcoin (BTC) has slipped around 6% from its Aug. 14 all-time high, remaining 3% down in the past week. After a strong summer rally that propelled Bitcoin from the $97,000 range in late May to new highs in August, this pullback indicates a cooling market.

The market is still split over whether this is a healthy retracement within a larger uptrend or the beginning of a more significant correction.

ETF outflows weigh on sentiment, Ethereum dominates inflows

Data from SoSoValue shows U.S. spot Bitcoin ETFs saw $121 million in net outflows on Aug. 18, pushing monthly outflows to nearly $140 million. This contrasts sharply with Ethereum (ETH), which has attracted a record $2.83 billion in inflows in the past month.

CoinShares’ Aug. 18 report confirms this divergence, with year-to-date Ethereum inflows now reaching $11 billion, compared to $5.3 billion for Bitcoin. According to the report, investor preferences have shifted in favor of ETH exposure, particularly as expectations surrounding staking approval for Ethereum ETFs grow.

Whales accumulate as BTC price dips

Santiment’s latest on-chain data shows that wallets with 10–10,000 BTC have added over 20,000 BTC since last week’s pullback, bringing their total accumulation to over 225,000 BTC since March. Because of the historical strong correlation between this group’s movements and the direction of future prices, there has been speculation that smart money may be preparing for another leg higher.

Market analyst Rekt Capital, on an Aug. 18 X post, noted that Bitcoin is at a point in the cycle where shallow retraces historically set the stage for strong upside. In both 2017 and 2021, quick pullbacks of 25–29% acted as technical resets before fresh rallies. A similar pattern now, provided $114,000 holds as support, could mark the foundation for a new price discovery phase.

Bitcoin technical analysis

Bitcoin is below the midline of its Bollinger Bands on the 4-hour chart, indicating that there is still downward pressure. The bands are starting to tighten, which is often a sign of larger movements. Nearing oversold territory at 38, the relative strength suggests that selling pressure may be waning.

Bitcoin 4-hour chart. Credit: crypto.news

The short-term EMAs (10–30) are leaning bearish, but the 50-, 100-, and 200-day moving averages still show signs of support for the overall trend. Oscillators also exhibit divergence. The momentum and MACD show sell signals, but the Bull-Bear Power points to a potential move back toward buyers.

If whales continue to accumulate and the $114,000 support holds, Bitcoin might rise back toward the $118,000–$120,000 range. A retest of the most recent all-time high of $124,000 might be feasible if volume confirms. The 100-day and 200-day moving averages, or about $110,000 and $103,000, are the next significant supports. Failure to defend $114,000 could lead to a more severe correction.





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Bitcoin Price At $115K: Support Or Breakdown Ahead?
Crypto Trends

Bitcoin Price at $115K: Support or Breakdown Ahead?

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Bitcoin (BTC) fell below $115,000 on Monday, August 18, 2025, confirming a decisive break from a two-month-long bull run. The price decline was a 7.6% drop from its new All-Time High (ATH) of $124,501 set just four days prior. The drop was triggered by a breakdown from a key technical pattern known as a rising wedge, which had supported the asset’s price since mid-June.

Bitcoin started its rally in April this year with a series of higher lows in mid May and June, as well as in early August. The rally was strong enough to hit a new ATH. However, sellers finally overwhelmed buyers, pushing the price down even as bulls are fighting to protect important levels of support. 

On-chain data and technicals point to the potential of a mixed short- to medium-term view for bitcoin price. Let’s evaluate the data to determine the potential trend of this digital asset.

Daily Active Addresses Record A Steep Drop

The active number of the addresses signifies the number of active wallet addresses of an asset. Over here, Bitcoin has been ranging between 700,000 and 1.2 million in the course of seven months. Although BTC continued to hit new highs, active participation has not always been on the rise, suggesting that the retail presence is not keeping up with the price action.

At the time of writing, according to data from CryptoQuant, the active address count peaked at 994,288 on August 14 but has since fallen by over 160,000 in just four trading sessions. 

Bitcoin Short-term Holders Offloading At A Loss

The Short Term Holders (STH) of Bitcoin have now begun to enter into the stage of loss realization that the market has not seen since January 2025, when the crypto sector underwent its worst correction of this cycle. In the period since, STHs had generally been selling at a profit as BTC trended up in the six-figure territory.

However, the most recent STH-SOPR has declined below 1, indicating that the most recent transactions are being executed at a loss. This can work both ways historically, as an extended period of selling can be representative of decaying momentum and the onset of a correction. Notably, brief pullbacks are sometimes healthy re-sets, eliminating lagging hands before the next higher leg occurs.

Bitcoin On Crossroads

The bitcoin chart given below highlights a rising wedge pattern in the daily time frame, a formation that typically signals weakening momentum despite higher highs and higher lows. Bitcoin is now trading within converging upward trendlines, showing that the buying pressure is slowing as price nears resistance. After reaching its all-time high around $124,000, BTC price faced rejection and is currently retesting the $115,000 support zone.

On the day of hitting ATH, a reversal began last week when a powerful “Bearish Engulfing” candle appeared. This signal, where a single day of selling completely erases the prior day’s gains, served as warning that buying pressure has been exhausted.

Following the Bearish engulfing candle, for the next two days, consequent ‘dojis’ were seen, where there is no significant price movement in either direction. Hence bitcoin now stands at a crossroad where bulls are unexpectedly startled by bears, evident by panic selling by STH holders, as per the on chain data.

The Bollinger Band (BB) is a key technical indicator as it is used to present an important area or to confirm the trend. Possible stabilization of the crypto market at this level might result in a potential reversal trend toward the $121,000 which is the upper trendline of the bollinger band, in this situation a major resistance.

The Relative Strength Index (RSI) indicator which is used to determine a trend pattern has plunged from near overbought, indicating a rapid shift in selling pressure. With it still standing in the middle at 45, a classic bearish divergence has formed. While the price set a higher high in August compared to July, the RSI set a lower high.

This suggests that the momentum behind the rally was fading significantly, often foreshadowing a price correction.

What’s Next For Bitcoin?

Considering the present market sentiment, the “make-or-break” level for Bitcoin price is in the range between $115,000 and $116,000.

  • A successful defense of the $115,000 support may be followed by a push toward the upper target levels of $121,000 or its previous ATH of $124,000.
  • Conversely, a breakdown below $115,000 would likely trigger a decline toward $110,000. In an extreme bearish scenario, the BTC price could go as low as $105,000.

Also Read: Bhutan Moves $92M in Bitcoin Amid Exchange Speculation 

Disclaimer: The Crypto Times does not endorse or promote this digital asset in any manner. This article was created only for educational purposes. Make sure to “DYOR” as the market is highly volatile. New positions should be done by traders being careful and awaiting volume-backed breakouts.



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