Bitcoin Holds Around $115K on August 19: Is Further Decline on the Horizon?

Jakarta, Pintu News – Bitcoin’s (BTC) performance in the past 24 hours has disappointed investors after it set a new record high of $124,474 on August 14.

After reaching that peak, the world’s largest cryptocurrency dropped to the $115,000 range within four days, signaling increasing bearish pressure among investors.

Chart analysis shows that Bitcoin is now at a key support level, which could potentially trigger a rebound.

Although market sentiment points to a possible upside, analysts still warn of the risk of a significant downside.

Bitcoin Price Up 0.42% in 24 Hours

On August 19, 2025, Bitcoin traded at $115,643, equivalent to IDR 1,877,679,114, marking a 0.42% increase over the past 24 hours. During this period, BTC hit a low of IDR 1,859,212,684 and reached a high of IDR 1,896,256,592.

At the time of writing, Bitcoin’s market capitalization stands at approximately IDR 37,497 trillion, while 24-hour trading volume surged 24% to IDR 635.73 trillion.

Read also: Metaplanet Buys Bitcoin as Price Drops, Achieves 18.67x BTC Rating!

Analysts Warn of Potential Bitcoin Decline

US macroeconomic conditions suggest that Bitcoin is at risk of a downturn, and the broader market is likely to follow this trend.

Based on data from ICE BofA Option-Adjusted Spreads (OASs)-a macroeconomic metric that monitors investor risk appetite in the US-Bitcoin’s potential movements are often predictable.

Usually, a spike in this metric precedes a significant rise in Bitcoin price, with the asset forming a local bottom. Currently, the metric is in the low range, signaling a possible slow decline is underway.

Crypto analyst Joao Wedson noted that a bearish sentiment in the US macro landscape has been developing since 2022.

He added that “euphoria is likely to ensue” before Bitcoin enters an aggressive bear market “at some point,” with projections that the trend through 2026 will be more favorable to the bears.

Read also: XRP Price Update: Pundit Predicts XRP Price Target in the 2nd Quarter of 2026!

Wedson stated:

“I believe most of 2026 and beyond will be very bad for the US economy.”

Bitcoin Outperforms US Stock Market

A comparison of Bitcoin with major stock indices shows that Bitcoin continues to outperform the S&P 500.

According to Artemis, in the past year, Bitcoin has recorded a 101% increase, compared to only 17.2% for the S&P 500.

This suggests that investors benefit far more from holding Bitcoin than stock indices, confirming the asset’s position as an attractive liquidity destination.

With such a favorable performance, more and more investors are likely to be attracted to Bitcoin due to the potential for higher returns.

US Investors to Drive Accumulation

United States investors are currently leading the market accumulation through strong purchases on BTC spot ETFs. To date, Bitcoin under management totals $152.18 billion, equivalent to 589,260 BTC since approval in 2024, according to CoinGlass.

However, August’s data showed outflows were greater than inflows, with total net flows reaching negative $11.5 million, signaling a withdrawal from the market.

Nevertheless, Bitcoin reserves among US companies continue to rise, with companies now holding 4.8% of the total Bitcoin supply, according to CoinGecko. Interestingly, in the past day, MetaPlanet purchased $93 million worth of assets.

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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:

• Ambcrypto. Bitcoin faces bearish risk as U.S. macro clouds outlook; what’s next. Accessed on August 19, 2025