Bitcoin And Ethereum Prices Weaken, Bullish Trend Done?

JAKARTA - The crypto market was again hit by pressure in early August 2025. Recent data show a significant weakening of the Bitcoin (BTC) and Ethereum (ETH) spot market demand, accompanied by a reduced inflow from the ETF and a slowdown in speculative activity.

This situation sparked fears of an end to the bullish cycle, although some analysts remain optimistic about the long-term outlook. Tokocrypto analyst, Fyqieh Fachrur, believes that the crypto market is currently in a critical consolidation phase.

He explained that the short-term pressure was clearly visible, this situation had not marked the end of the bull run, but instead provided opportunities for investors to re-accumulate at an important level, which was between 110,000 - 112,000 US dollars or around Rp. 1.79 billion-Rp. 1.96 billion.

Fyqieh explained that the decline in the crypto market was triggered by concerns over US trade rates and indications of a global economic slowdown, which significantly eroded investor confidence.

This condition ultimately encourages market participants to stay away from risky assets such as crypto. In addition, the profit-taking that occurred after a strong rally in July also accelerated selling pressure.

"Although altcoins had shown a spike at the beginning of the week, the momentum did not last long and eventually dragged the overall market down with Bitcoin," he explained.

Fyqieh added that macroeconomic pressure and interest rate policy uncertainty from the Fed are still the main determinants of the market direction in the short term. However, from a technical perspective, the potential for recovery remains open as long as Bitcoin lasts above US$100,000 (Rp1.62 billion).

Although short-term pressure is very real, analysts believe that the bull market cycle is not over yet. Corrections are currently rated as the market cooling phase after the previous quarter's euphoria.

With the growing institutional and fundamental narrative of blockchain still strong, the crypto market still has room to grow. However, Fyqieh emphasizes market players to be more selective and take risk management seriously.