Why Are BTC and ETH Dropping Today (August 15)? Here’s What’s Behind the Crypto Decline
Jakarta, Pintu News – The cryptocurrency market has experienced a significant drop in the last 24 hours (15/8), with the total market capitalization falling by 3.49% to $4.03 trillion.
This drop comes after a previous week full of rapid gains, where Bitcoin managed to set a new price record above $124,000. Additionally, the Altcoin Season Index is currently at 44/100, which shows that while Bitcoin still dominates, altcoins are slowly gaining attention.
Bitcoin Leads the Decline but Remains Above $118K
Bitcoin (BTC) has decreased by 3.05% in the last 24 hours, trading around the price of $118,895. This decline is likely just a cooling phase after overbought conditions, with Bitcoin remaining above important support levels.
Read also: Bitcoin Pulls Back to $118K After New All-Time High — Is the Rally Just Getting Started?
In addition, Ethereum fell 2.21% to around $4,635, reducing some of its recently recorded 19% weekly gain.
Solana (SOL) fell 4.55% to $193.87, showing sharper losses as traders took profits after a recent double-digit price surge.
Cardano fell 3.27% to $0.9288, continuing its recent struggles to maintain prices above the $1 level.
Dogecoin and XRP suffer bigger losses
Meme coin favorite, Dogecoin , was also one of the hardest hit among the top 10, dropping 8.72% to $0.2273.
Not only that, XRP also experienced a significant drop of 5.13% to $3.10, erasing most of the weekly gains that had been recorded.
Why the Crypto Market is Down
According to Coinpedia (15/8), one of the main triggers for this deep decline was the latest macroeconomic data from the United States. July’s core Producer Price Index (PPI) came in at 0.9%, higher than the market expected.
Read also: Dogecoin Price Drops 9% Today, While Whale Accumulates 2 Billion DOGE
This reading reduces the likelihood that the US Federal Reserve will cut interest rates in September, a move that risky assets such as cryptocurrencies were already expecting.
This disappointing sign of inflation triggered a “risk-off” shift among investors, leading to massive selling in the stock market and digital assets.
Markets are now bracing for the FOMC meeting on August 22, where the Federal Reserve’s meeting minutes will be released and officials are expected to provide fresh guidance ahead of the policy decision in September.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference:
- Coinpedia. Why is Crypto Market Crashing Today? XRP Price Dips 6%, BTC And ETH Follow. Accessed on August 15, 2025
