😱 ₿itcoin Dumps: The Panic Begin! (16 Aug 2025)

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Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where Bitcoin’s plummet in price has everyone on the verge on panic . . .

Do we join in on the panic or continue to play our favorite game - the waiting game. 😂

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN

• Bitcoin Technical Analysis - The All-Time High Was Too Soon!

• What to Anticipate Next - This Date Holds Bitcoin’s Next Move!

📌 BULL MARKET BULLETIN

• Cryptocurrency Headlines - U.S. Buying Bitcoin May Not Yet Be Off the Table, $48 Million in Cryptocurrency in Limbo Due to Potential Hack & More!

BITCOIN TECHNICAL ANALYSIS

Bitcoin had a monumental move as it broke into a new all-time high at $124,457.12 on Thursday!

Unfortunately, it was short lived as Bitcoin crashed back down to $117,500 almost immediately which liquidated over $227 million in trading positions!

How has this effected August? Believe it or not, Bitcoin still sits in the positive at +1.40% and the 2nd quarter at +9.61%.

However, the month is not yet over, and we are staring a bearish formation in the face with the recent plummet in Bitcoin’s price . . .

Let’s scroll down and take a look at Bitcoin recent cliff dive in price - but before we do - a word from today’s sponsor!

Thank you to Crypto101 for sponsoring today’s newsletter!

In Wednesday’s newsletter, we witnessed a massive candlestick that manifested on Monday that touched Bitcoin’s all-time high and then was immediately rejected.

At that point, we called for Bitcoin to begin consolidating to build the pressure from the recent failure that had occurred . . . but nooo.

Bitcoin rallied the same day and instead of consolidating between $118,386.74 and the previous all-time high, a new all-time high was set.

A new all-time high should call for a celebration, right? Well, not exactly . . .

Let’s take a look below and see if our resident AI, Byte, would like to chime in.

Byte, the floor is yours!

🤖 Byte the Bot: Bitcoin sets a new all-time high at $124,457.12 which resulted in a price crash shortly afterwards.

Caution! A bear flag formation is taking shape after the recent pullback in price, suggesting further movement downward.

Thank you for the insight, Byte!

We have said this countless times throughout our newsletters . . . consolidation is key to a healthy and sustained upward movement!

Bitcoin (once again) broke the all-time high by a couple thousands of dollars and did not create any type of support along the way.

As we see above, $118,386.74 has yet again turned into a resistance line.

Ready for the good news? The gold line running across the chart shows a previous resistance line that has flipped into a support line.

📅 Which date are we now watching? The point that the two support lines shown above converge is the 18th of August!

At that point, does Bitcoin follow upward towards the converge of support and resistance on the 4th of September or continue downward towards $115,620.04?

Let’s take a look into our “What to Anticipate” section and shake our magic 8 ball to see if any positivity is going to come to us soon.

WHAT TO ANTICIPATE

As covered in Wednesday’s newsletter:

And that is exactly what happened! I don’t know if we should give ourselves a point for calling this move as our portfolios are suffering . . .

Let’s fast forward to the fun part of this section!

📊 Which formations are on our radar? Bitcoin’s recent price move has initiated a bear flag formation which could easily drive Bitcoin’s price down lower.

As long as Bitcoin is consolidating below $118,386.74 and above $115,620.04, this bearish formation will hold.

On a positive note: if Bitcoin does follow upward support at the converge on the 18th of August, we could see the start of a bullish cup and handle formation!

This bullish formation would allow for consolidation (which we have always wanted) and a strong break through a new all-time high!

🌍 In a perfect world, what do we see? Let’s make this clear . . . we do not want Bitcoin to break the all-time high for the next few weeks (at least)!

We get it, everyone wants their portfolios to increase in value . . .

But ask yourselves this, at what cost? We are lucky that Bitcoin only plummeted around $7,000 - imagine if it were $17,000 or $27,000. . .

We need two variables right now to be successful:

• Consolidation

• Time

On the 18th of August, Bitcoin’s switch in direction would allow for the bullish formation to begin which would assist in bullish consolidation.

🧠 Our overall thoughts? We are not surprised in the slightest that Bitcoin plummeted in price after the recent all-time high.

With the major rejection that happened on the 11th of August it was too soon for it to be any different on the 14th of August!

By our next newsletter on Wednesday, we would have seen if Bitcoin redirected and began to follow the upward support.

In the meantime, as our magic 8 ball is a little fuzzy . . . If Bitcoin breaks $115,923.08 then strap your seatbelts on for a downward spiral!

See everyone in Wednesday’s newsletter and be safe out there!

BULL MARKET BULLETIN 📌

Trading Halted Amid Suspected $48 Million Hack On Thursday this week, Turkish cryptocurrency exchange BtcTurk halted all deposits and withdrawals citing a “technical issue.” Unfortunately, this was no minor technical issue, but a major issue of $48 million in digital assets involved in usual activity!

U.S. Bitcoin Purchases Still Being Considered The most recent news is that the U.S. government was not going to buy Bitcoin but used seized Bitcoins to fuel the strategic reserve. Secretary of the Treasury, Scott Bessent, has now announced that there may be a change of plans . . . was this all put in place to buy Bitcoin at a lower cost after the recent dump in price?