• Bull Market Bytes
  • Posts
  • 🔥 ₿itcoin's All-Time High Rejection - Altcoins Rocket! (13 Aug 2025)

🔥 ₿itcoin's All-Time High Rejection - Altcoins Rocket! (13 Aug 2025)

🤯 MicroStrategy Set to Own 3% of All Bitcoins! Bitcoin Miners to Switch Cryptocurrencies?

Author

Jonathan Hamblin
August 13, 2025

 

In partnership with

Today’s newsletter is brought to you by Attio! Their highly impressive AI-native CRM builds, scales, and grows your company to the next level! Check them out!

Welcome back to

BULL MARKET BYTES

Your byte of cryptocurrency insight where Bitcoin next all-time high was massively rejected . . .

Just like me when finding a date to senior prom. 😂

Here is what we have for you today!

📊 BLOCKCHAIN BREAKDOWN
📌 BULL MARKET BULLETIN

BITCOIN TECHNICAL ANALYSIS

In the past few days, August has turned from a boring month to one that has us on the edge of our seat.

At the moment, Bitcoin’s performance in August sits at +3.73% with quarter 2 being at +12.13%.

Not ground breaking by any means, but this could be a month that is placing everything into motion for massive gains in quarter 4 . . .

Now, what is ground breaking is cryptocurrency’s overall market cap sitting at $4.1 trillion!

That is the highest that we have seen since the inception of cryptocurrency over 15 years ago!

For more insight into Bitcoin, let’s take a look at the daily chart - but before we do - a word from today’s sponsor!

Finally, a powerful CRM—made simple.

Attio is the AI-native CRM built to scale your company from seed stage to category leader. Powerful, flexible, and intuitive to use, Attio is the CRM for the next-generation of teams.

Sync your email and calendar, and Attio instantly builds your CRM—enriching every company, contact, and interaction with actionable insights in seconds.

With Attio, AI isn’t just a feature—it’s the foundation.

  • Instantly find and route leads with research agents

  • Get real-time AI insights during customer conversations

  • Build AI automations for your most complex workflows

  • Join fast growing teams like Flatfile, Replicate, Modal, and more.

Thank you to Attio for sponsoring today’s newsletter!

In Saturday’s newsletter, the 15th of August was our deadline for knowing how Bitcoin would move next . . . either up or down.

On the 10th of August, Bitcoin’s price broke through resistance and on the 11th of August Bitcoin attempted to make a new all-time high!

Let’s take a look at the chart below to see how that push to make a new all-time high worked out, but before we do . . .

A word from our resident AI, Byte, on the finer details!

Byte, take it away!

🤖 Byte the Bot: “Bitcoin’s price surpassed the previous bearish “triple top formation” and broke the resistance line set at $118,386.74.

Bitcoin provided confirmation on the 12th of August by switching the previous resistance at $118,386.74 into support for potential higher gains.”

Right you are, Byte!

Bitcoin made two extremely bullish moves in the last 72 hours

  • Breaking the bearish triple top formation

  • Breaking the resistance line at $118,386.74

Above, you can see that we highlighted one of the candlesticks that is touching the resistance set at the all-time high area.

This shows us that Bitcoin pursued a new all-time high and was extremely rejected, as shown by the long line at the top of the candlestick.

What is the remedy? Bitcoin needs more consolidation before it can break into a new all-time high!

The 2 candlesticks that follow the massively bearish highlighted candlestick are a great start . . .

But a great addition would be Bitcoin’s price consolidating between $118,386.74 and the previous all-time high of $123,091.61!

Let’s take a look into our “What to Anticipate” section below to see what else we need to keep in mind moving forward!

WHAT TO ANTICIPATE

As covered in Saturday’s newsletter:

🧠 Our overall thoughts? Bitcoin is 99.9% on track to making a monumental move in the upcoming months.

Historical data points to the rocket in price taking place in quarter 4, and we have to go with the data that we are provided.

In the meantime, see if Bitcoin holds $115,620.04 for the next 72 hours and if a bullish move towards $118,386.74 takes place.

As we now see, Bitcoin made the move in less than 24 hours and pursued a new all-time high!

📊 Which formations are on our radar? The move that we are currently watching is to see if consolidation continues in Bitcoin’s chart.

As previously shown in Bitcoin’s daily chart, the bearish highlighted candlestick is confirmation that Bitcoin was not ready for a new all-time high!

A major driving factor of this is that traders and investors set “sell orders” at the all-time high for taking profits, which drove down the price.

In addition, “short sellers” opened a position which creates sell pressure so they can make profit when the asset drops in price and then buy to close the position.

With the ascending support line that is still in effect, we wouldn’t expect a new all-time high until the 4th of September.

However, it is very reasonable that this will occur before then!

🌍 In a perfect world, what do we see? The top priority for Bitcoin is to consolidate above $118,386.74!

The last thing that we want is for Bitcoin to set a new all-time high by a couple thousand dollars and then plummet . . .

Since the 10th of July, Bitcoin has been consolidating between $111,871.67 and $123,091.61.

However, in this perfect world scenario, we would strive for a consolidation that is between $118,386.74 and $123,091.61!

🧠 Our overall thoughts? Something in definitely going on in the world of cryptocurrency!

Ethereum is ~$200 away from breaking a new all-time high, Binance Coin has pushed above $850, and Litecoin has moved more than $1 haha.

Even though it may feel like it, “alt-season” is still on the horizon with more momentum to come!

Until our next newsletter on Saturday, watch where Bitcoin consolidates in the meantime and if it holds between $118,386.74 and $123,091.61!

BULL MARKET BULLETIN 📌

Bitcoin Mining Still Worth the Expense? Veteran investor Fred Krueger has recently slammed Bitcoin mining as “mining is one million times as difficult” and that “the Bitcoin reward has decreased 8 times.” There are still many people that mine Bitcoin even due to these facts. Will miners start to switch to another cryptocurrency to mine?

MicroStrategy Owns 3% of all Bitcoins . . . Celebrate or Concern? It is amazing to see how far the desire for Bitcoin has come, but to what expense? Bitcoin is designed to be decentralized, but with more banks and heavy investors buying it, it is becoming more controlled! Strategy bought $2.5 billion in Bitcoin last week and preps another purchase . . . is there such thing as too much Bitcoin for one person?