Bitcoin Corrected To IDR 1.78 Billion, Crypto Market Enters Wait And See Mode

Bitcoin illustration (photo: Pexels)

JAKARTA - The price of Bitcoin is again under pressure, where BTC is recorded to be perched at around $109,700, weakening nearly 5% in the last 24 hours on Tuesday, August 26 morning.

Then, the price of Ethereum slumped sharper and traded in the area of 4,400 US dollars (IDR 65.1 million) after setting a record new high to the level of 5,000 US dollars (IDR 81.4 million) on several trading exchanges on August 25 yesterday.

Responding to this condition, Reku analyst Fahmi Almuttaqin, assessed that this situation indicated increasing investor caution ahead of the release of US Index Personal Consumption Expenditures (PCE) inflation data in July 2025 this weekend.

According to Fahmi, investors see this inflationary data as in the spotlight because it is an indicator of Federal Reserve (The Fed) reference inflation, which will greatly determine the direction of future interest rate policies.

"Crypto markets are currently in waiting mode (wait and see). Lower inflation than expectations could be a powerful catalyst for new rallies, with short-term targets in the range of US$120,000 (Rp1.95 billion)," Fahmi explained in a statement.

Fahmi explained, if there was a breakout from the previous All-Time-High, there was a potential for a Bitcoin spike of up to the level of 136,000 US dollars or around Rp. 2.21 billion.

"However, if PCE data shows that inflationary pressure is still high, Bitcoin has the potential to be further corrected to the support zone of US$100,000 (Rp1.62-Rp1.67 billion)," explained Fahmi.

However, amid a price drop, Ajaib reports that MicroStrategy is taking advantage of this moment to increase their holdings. Based on reports to the SEC, MicroStrategy announced it had purchased 3,081 BTC worth IDR 5.6 trillion at an average price of around IDR 1.82 billion per BTC.

With this latest acquisition, MicroStrategy's total Bitcoin ownership has now reached 632,457 BTC, which was purchased for a total of around Rp730 trillion and an average price of Rp1.15 billion per BTC.

"This shows that despite market fluctuations, CEO Michael Saylor remains confident in his long-term strategy and still records significant profits from this massive allocation," concluded Panji Yudha, Financial Expert Ajaib.