Bitcoin Price Plummets to $115K Today (August 18) as Spot BTC ETFs Take Center Stage

Jakarta, Pintu News – Amid broader market gains, US-listed spot-based Bitcoin (BTC) and Ethereum (ETH) ETFs are in the spotlight, recording their biggest trading week to date.

ETF analysts emphasize that this surge not only sets a new benchmark for crypto funds, but also rivals the activity seen in Wall Street’s leading ETFs, even some of the most heavily traded stocks.

One analyst stated:

“The Spot Bitcoin and Ether ETFs recorded about $40 billion in volume this week, the biggest week ever for them. That’s a huge number, on par with the volume of a Top 5 ETF or a Top 10 stock.”

Then, how is the current Bitcoin price movement?

Bitcoin Price Drops 1.89% in 24 Hours

Read also: Dogecoin Slides 4% Today — Analysts Weigh In on Whether DOGE Can Hit $1.40

On August 18, 2025, Bitcoin was priced at $115,523, equivalent to IDR 1,871,225,994, marking a 1.89% decline over the past 24 hours. During this period, BTC hit a low of IDR 1,864,743,302 and reached a high of IDR 1,917,436,444.

As of now, Bitcoin’s market capitalization stands at approximately IDR 37,197 trillion, while its 24-hour trading volume surged 20% to IDR 473.08 trillion.

Eric Balchunas gives his view

According to ETF analyst Eric Balchunas, this surge in volume is not only driven by Bitcoin. Ethereum ETFs, which have been lagging far behind their Bitcoin counterparts, are finally performing significantly, posting volumes that mark a marked change from their previous flat performance.

After months of relatively small inflows, Ether funds appear to be “waking up,” narrowing the activity gap with spot Bitcoin ETFs.

Balchunas added:

“Ether ETF weekly volume of around $17 billion, breaking records, really woke up in July.”

Bitcoin and Ethereum Market Trends

According to AMB Crypto, the ETF’s record volume coincided with new milestones in the crypto market. Bitcoin surged to a new peak of $124,000, while Ether is within 2% of its 2021 record high.

The Ethereum ETF is also showing unprecedented momentum, with daily inflows reaching $1.01 billion and over $3 billion in just two weeks, making it the second best month in its history.

Balchunas compared this surge to an Ethereum ETF that “slept” for a year and then solidified a year’s growth in just six weeks.

In line with this view, Nate Geraci notes:

Read also: Ethereum Price Drops to $4,300 Amid Whale Buying: Is $5,800 the Next Target?

“The week with the all-time highest trading volume for spot crypto ETFs… The spot Ether ETF actually broke the previous weekly volume record. Does anyone still doubt their demand?”

Ethereum ETF vs. Bitcoin

Data from Milk Road highlights Ethereum’s growing momentum. Noticeably, the ETH ETF recorded net inflows of $3.37 billion between August 8-14, outperforming the Bitcoin ETF despite BTC’s 4.3 times larger market capitalization.

Bitcoin products only recorded $964.8 million in the same period, showing that ETH is no longer willing to play “second fiddle.”

Still, overall, Bitcoin ETFs remain dominant, with assets under management reaching $152.67 billion compared to Ether’s $25.68 billion.

Bitcoin’s surge to a record $124,000 and Ethereum’s rally to near all-time highs confirmed the market’s bullish momentum, although both assets experienced brief corrections of more than 5% and 6% respectively.

This correction appears to be temporary, with BTC and ETH demand remaining strong in both ETFs and institutional cash.

In addition, Grayscale has now filed S-1 documents with the SEC to launch a $GDOG ETF on NYSE Arca, a move that further demonstrates how institutional interest continues to shape the next phase of the crypto market.

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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:

• AMB Crypto. Bitcoin smashes $124k, but it’s ETH ETFs stealing the spotlight right now. Accessed on August 18, 2025