Bitcoin (BTC) has once again set a new all-time high at $124,089, or around IDR 2 billion. Shortly after, BTC and other cryptocurrencies corrected in response to U.S. Producer Price Index (PPI) data that came in above expectations. However, this data indicates that the crypto market remains bullish.. Read the full analysis from Pintu’s Trader Team in the article below.
Market Analysis Summary
- 🗒️ Support levels were identified between $117,650 and $115,650, suggesting that if BTC dips within this range, it could use it as a springboard for further upward movement.
- 👀 Analysts are eyeing resistance points around $4,750 to $4,869 for potential short-term targets. Should ETH break above these resistance zones, there is room for further upside with some bullish forecasts even suggesting targets beyond $8,000.
- 📊 The month-on-month (MoM) inflation rate for July increased by 0.2%, while year-on-year (YoY) inflation rate holding firm at 2.7%.
- 📈 The Consumer Price Index (CPI) itself rose to 323.05 points in July from 322.56 points the previous month, reflecting this modest monthly increase in overall consumer prices.
- 🔝 The latest Producer Price Index (PPI) report for July 2025 reveals a significant increase in producer prices in the United States, marking the largest monthly rise in three years.
Macroeconomic Analysis
Inflation and CPI
US Inflation Conditions – July 2025:
- The month-on-month (MoM) inflation rate for July rose by 0.2%, slightly slower than the 0.3% increase in June.
- Stable headline inflation kept the year-on-year (YoY) rate steady at 2.7%, just below some forecasts of 2.8%.
- The Consumer Price Index (CPI) increased to 323.05 points in July from 322.56 in June, reflecting a moderate monthly rise in overall consumer prices.
- Core inflation climbed to 0.3% in July, up from 0.2% in June — marking the sharpest monthly core CPI increase since January 2025.
- On a YoY basis, core inflation rose to 3.1% in July from 2.9% in June. The main contributors to this increase included transportation services, medical care services, and new vehicles.
Core inflation trends highlight a steady monthly pace and a YoY rise to 3.1%, showing that inflationary pressures remain persistent. This is significant for monetary policymakers and consumers, as core inflation is less affected by temporary swings and more reflective of sustained price changes across a wide range of goods and services. The July data underscores ongoing challenges in bringing inflation back down to target levels, making continued vigilance essential.
Other Economic Indicators
- Inflation result effects: The World Bank and IMF have both indicated a slowdown in global economic growth for 2025, with rates projected around 2.3-3.0%. The U.S. inflation staying above target, combined with elevated uncertainty from tariffs and geopolitical tensions, contributes to a cautious global growth outlook.
- Jobless Claims: The most recent data on the U.S. jobless claims, as reported for the week ending August 9, 2025, shows that initial claims for state unemployment benefits fell by 3,000 to a seasonally adjusted 224,000. This figure marks a modest decrease compared to the prior week’s revised level of 227,000, reflecting slightly reduced layoffs amid a labor market that is beginning to show signs of cooling, although layoffs remain relatively low by historical standards.
- PPI: The PPI for final demand jumped 0.9% last month, which far exceeded economists’ expectations of a 0.2% increase. This surge was driven by a broad-based increase in both goods and services prices, with goods prices rising 0.7% and services prices increasing even more sharply by 1.1%, marking the biggest jump in services costs since March 2022.
BTC Price Analysis
Over the past week, BTC showed a strong bullish momentum, with its price rising from around $114,128 on August 6 to over $120,200 by August 13, 2025. The week kicked off with BTC rebounding off its 50-day simple moving average, indicating renewed midterm bullish sentiment in the market. Early in the week, BTC crossed the $114,000 mark and steadily climbed, reflecting growing investor confidence and strong accumulation activity. The market capitalization reached approximately $2.27 trillion with daily trading volumes increasing by more than 13%, signaling robust trading interest.
BTC Technical Analysis
From a technical analysis perspective, here’s what to watch:
- BTC shows a potential breakout point around $115,000, with targets set toward $117,800 and even a retest of the previous all-time high near $122,300, which BTC briefly breached on August 12 before easing slightly.
- Support levels are located between $117,650 and $115,650. If BTC dips within this range, it could serve as a springboard for further upward movement.
- Some short-term pullback expectations remain around $110,000 to $112,000, but overall momentum stays positive as BTC continues its climb after minor corrections.
- Despite short-term fluctuations, key support levels are maintaining investor confidence, making a breakout above $120,000 a crucial milestone.
- BTC has the potential to rise toward the $130,000–$137,000 range.
The price surge has also been strongly influenced by broader macroeconomic factors, particularly the latest US CPI data which held steady at 2.7% year-on-year. This reinforced expectations of a Federal Reserve rate cut in September, with market odds jumping to nearly 94%. Lower rates generally reduce the opportunity cost of holding risk assets like BTC, attracting more capital into crypto markets.
ETH Price Analysis
Over the past week, ETH has exhibited strong bullish momentum with its price surging near $4,635, placing it just about 4.7% below its all-time high from November 2021. The coin demonstrated a significant weekly gain of around 28%, energizing investor interest and positioning it alongside BTC as a major performer in the crypto markets. The narrowing price gap between ETH and BTC reflects ETH’s strengthening market position and growing investor confidence in its technology and network upgrades.
ETH Technical Analysis
Technically, ETH investors need to watch these points:
- ETH has broken through a key resistance level around $4,092 and is now facing resistance in the $4,300 to $4,350 range. Despite multiple tests of this zone, the overall trend remains bullish.
- Analysts note that ETH is currently moving in an upward impulse wave and could continue rising toward the strong resistance level around $5,000.
- Support levels are found around $4,225 to $4,386. While corrections may occur, they are likely to remain within this range, reflecting continued buying pressure from traders.
- If ETH breaks above the $4,750 to $4,869 resistance zone, there is potential for further gains. Some bullish projections even see targets above $8,000—especially if BTC rallies strongly.
- However, traders should remain cautious of possible corrections that could retest lower support levels near $3,900 and $3,700 before another upward move.
Market sentiment points to the importance of ETH breaking and closing above the psychological $4,000 level, which it has tested repeatedly in recent weeks. Historically, failure to hold above this level has led to substantial pullbacks, but a successful breakout could pave the way for new all-time highs.
Altcoin Analysis
Over the past week from August 6 to August 13, 2025, the wider crypto market showed a mixed but cautiously optimistic performance. While BTC and ETH led notable bullish rallies, altcoins had varied results with resilience seen in several leading tokens despite broader market volatility. The overall market sentiment remained positive, supported by a reading of “Greed” on the Crypto Fear & Greed Index, indicating traders’ optimism amid some sharp price fluctuations.
Prominent altcoins like Toncoin, Story, XDC Network, Cronos (CRO), and TRON managed to withstand pressure and even showed potential for further upside momentum in the near term. These coins outperformed many others in the top 100, with DeFi projects regaining strength as TVL in DeFi climbed back near May 2022 levels, reaching around $135 billion.
However, not all altcoins participated equally in the rally. Some major coins like ADA,XRP and DOGE experienced modest pullbacks despite the bullish rally in BTC and ETH. The altcoin season index stood at 37 out of 100, showing that most altcoins have yet to outperform BTC over the last 90-day stretch, thereby reflecting a selective market where investors are discerning and focusing more on individual token fundamentals rather than blindly following the major cryptocurrencies.
In short-term trading, several altcoins such as SOL, BNB, and others saw solid gains, with some tokens even recording double-digit percentage increases in daily trading sessions. Meanwhile, a few tokens also faced notable declines, highlighting the continued volatility and risk in the altcoin space. Market participants are paying close attention to upcoming major economic and policy events like OPEC meetings and US inflation data that might add to price swings and market sentiment shifts.
On-Chain Analysis
News About Altcoins
- Grayscale Files to Launch Dogecoin ETF Under Ticker “GDOG”. Grayscale is moving forward with its plan to launch the Grayscale Dogecoin Trust ETF, under the ticker GDOG, according to a recent SEC filing. If approved, the ETF will trade on NYSE Arca, marking another step in the SEC’s increasingly favorable stance toward crypto ETFs after greenlighting spot Bitcoin and Ethereum ETFs. Grayscale is not alone in this push, as firms like Rex-Osprey and Bitwise have also filed for similar crypto ETF products, ranging from SOL to XRP.
News from the Crypto World in the Past Week
- Thailand to Launch TouristDigiPay for Crypto-to-Baht Payments. Thailand’s government is set to roll out the TouristDigiPay initiative this month, allowing foreign visitors to convert crypto into Thai baht for local spending. The program, to be unveiled by Finance Minister Pichai Chunhavajira, will likely be limited to SEC-approved tokens including Bitcoin, Ethereum, XRP, Stellar, USDC, and USDT. At launch, payments will be made via QR codes, with future integration planned for foreign debit and credit cards. Officials say the move is aimed at reviving tourism, particularly from China, after foreign arrivals dropped 6% and international tourism revenue fell 4.2% in the first seven months of 2025.
Cryptocurrencies Market Price Over the Past Week
Cryptocurrencies With the Best Performance
- Mantle (MNT) +21.52%
- Aerodrome Finance (AERO) +13.07%
- Chainlink (LINK) +12.85%
- Cardano (ADA) +11.92%
Cryptocurrencies With the Worst Performance
- SPX6900 (SPX) -25.98%
- Pudgy Penguins (PENGU) -23.00%
- Bonk (BONK) -19.49%
- Conflux (CFX) -18.73%
References
- Sarah Wynn, Grayscale seeks nod from US SEC for Dogecoin ETF under the ticker ‘GDOG’, theblock, accessed on 18 Agustust 2025.
- Kyle Baird, Thailand pitches crypto-to-baht QR payments sandbox to revive slowing tourism, dlnews, accessed on 18 Agustust 2025.