Bitcoin and Ethereum dropped sharply: Panic selling has begun

Bitcoin (BTC), after reaching an all-time high of 124,500 dollars on August 14, 2025, declined to around 115,000 dollars. Ethereum (ETH) followed a similar trend, dropping from 4,790 dollars to 4,200 dollars.

Short-term investors are selling Bitcoin

Bitcoin declined by 7.6% after reaching an ATH of $124,500 last week. According to CryptoQuant data, short-term investors sold more than 20,000 BTC at a loss in the last three days. The number of BTC sold on Sunday, August 17, reached 23,520, while the price fell from $118,600 to $114,400, decreasing by 3.5% that day.

Despite panic selling, long-term investors still hold 10% of the total volume. This structure indicates that the price may remain at the bottom and recover; analysts, however, are cautious about the direction moving forward.

Can BTC reach 200 thousand dollars?

The price movements of BTC have brought Bernstein Research group's 2025 end prediction back to the forefront last year. In a report dated October 22, 2024, Bernstein stated that Bitcoin could rise to 200,000 dollars by the end of 2025.

Glassnode analyst James Check stated last July that he thought 200,000 dollars was impossible. According to Check, the volume of BTC is not high enough to pull the price to those levels. The analyst emphasizes that it is important not only to reach price levels but also to be able to hold there. He also highlights that the price could suddenly drop as long as stability is not achieved.

What do Bitcoin transfers tell us?

On August 19, Ark 21Shares sold 559.85 BTC worth 64.4 million dollars while BlackRock sold 490 BTC worth 68.7 million dollars. Investors need to pay attention to other data before interpreting this as a downward trend.

Analyst Axel Adler Jr. stated that while the Bitcoin price is declining, net outflows from exchanges have strengthened. According to Adler, the average daily outflow over the last 30 days has fallen from -1,700 BTC to -3,400 BTC. This situation indicates that investors are withdrawing more Bitcoin from exchanges and buying faster than they are selling. So even though the price may be declining, accumulation is continuing in the background.

Against the backdrop of price decline, we see strengthening net outflow: the Exchange Netflow-30D moving average became more negative from -1.7K to -3.4K BTC/day. This means coins on CEX exchanges are being bought faster than they are being sold.

Such a shift in a falling market… pic.twitter.com/YmKYWP0qkf

— Axel 💎🙌 Adler Jr (@AxelAdlerJr) August 19, 2025

Although there is a noticeable selling pressure in the public eye, the data shows that long-term accumulation continues. This dual structure further obscures the direction in which BTC will move in the coming days.

At the time of writing the news, Bitcoin is trading at 115.00 dollars, and Ethereum is trading at 4,280 dollars.

This article does not contain investment advice or recommendations. Every investment and trading action carries risk, and readers should conduct their own research when making decisions.