Macro tailwinds, gold link push Bitcoin higher

August 14, 2025

 

Reading time: 5 minutes

Bitcoin hits record $124K as gold correlation and macro tailwinds point higher

Key points:

  • Bitcoin touched an all-time high of $124,457, briefly surpassing Alphabet’s $2.45 trillion market cap to rank as the world’s fifth-largest asset.

  • Analysts cite gold correlation, macro tailwinds, and strong institutional inflows as drivers, with $126,000 marked as the next breakout level.

News - Bitcoin surged to $124,457 this week, overtaking Google’s parent company, Alphabet, in market value and reinforcing bullish momentum. Analysts point to its growing correlation with gold, favorable macroeconomic conditions, and renewed institutional demand as catalysts for continued upside.

Capriole Investments’ Charles Edwards noted a widening performance gap between gold and Bitcoin, echoing 2020 patterns that preceded a major BTC rally. Investor Jelle suggested that if gold leads and Bitcoin follows as before, prices could climb toward $150,000.

Macro drivers and safe-haven demand - The CME FedWatch Tool shows a 95%–98% probability of a September U.S. interest rate cut. With inflation pressures persisting and U.S. debt at record levels, safe-haven assets are in focus. Gold and Bitcoin lead 2025’s major asset gains, up 29% and 25% respectively, according to Charlie Bilello.

On-chain trends and whale activity - Over 300,000 BTC have moved out of long-term holder wallets in the past month, including coins dormant for a decade. Despite profit-taking, strong buying support has formed near $118,000, with 1.88 million addresses acquiring 1.3 million BTC at that price point.

Institutional and corporate inflows - Bitcoin treasuries, including ETFs, now hold 3.64 million BTC, over 17% of total supply. Corporate buyers range from crypto-focused firms like Thumzup Media to Sweden’s H100 Group. Analysts say easing geopolitical tensions, upcoming monetary easing, and corporate adoption could keep BTC’s momentum strong.

Cardano’s bull flag breakout sets stage for $3 run

Key points:

  • ADA hits a five-month high above $1, with analysts eyeing $1.50–$3 if bullish momentum holds.

  • A forming golden cross, whale accumulation, and ETF optimism boost confidence in a potential triple-digit rally.

News - Cardano (ADA) has surged past $1 for the first time in over five months, leading the altcoin market amid a wave of bullish signals. The token is up double digits on the day and nearly 27% over the past week, breaking into the top 10 cryptocurrencies by market capitalization. Analysts point to a combination of technical and on-chain factors that could drive gains of 100%–200% in the weeks ahead.

Golden cross and technical breakouts - A golden cross is forming on ADA’s daily chart, where the 50-day moving average is crossing above the 200-day moving average, a pattern that preceded rallies of over 200% in previous cycles. Analysts note ADA has also confirmed a breakout from a multi-month bull flag, with upside targets ranging from $1.60 to $3. The last time a similar setup appeared, ADA rallied 230% in under a month.

On-chain strength and whale activity - Long-term holders now control a record 15 billion ADA that has not moved in over a year, reducing selling pressure. Whales have purchased over 200 million ADA in recent days, signaling strong conviction. Meanwhile, the Cardano network has surpassed 3.1 million holding wallets, and ETF prospects have brightened with a new filing from Grayscale.

Ecosystem and scaling initiatives - The Cardano Foundation is advancing adoption through partnerships, enterprise masterclasses, and developer training, while Input Output Global prepares the Ouroboros Leios upgrade to boost throughput with a novel block structure and parallel processing. If momentum continues, analysts say ADA could reclaim mid-2022 highs and potentially test $3 before year-end.

Justin Sun sues Bloomberg over ‘confidential’ crypto data leak

Key points:

  • TRON founder Justin Sun has filed a lawsuit to block Bloomberg from publishing a detailed breakdown of his crypto holdings.

  • Sun claims Bloomberg breached promises to keep the data confidential and warns disclosure could put his safety at risk.

News - TRON founder Justin Sun has taken legal action against Bloomberg in a Delaware federal court, aiming to stop the outlet from revealing specifics of his crypto portfolio. The lawsuit, filed on August 11, says Sun only shared wallet details and asset data after receiving assurances the information would remain confidential and be used solely to verify his net worth for the Bloomberg Billionaires Index.

According to the complaint, Bloomberg promised to delete the data after use and only publish an aggregated valuation, similar to profiles of other industry figures. Sun alleges the outlet now intends to publish token-by-token details, including roughly 60 billion TRX, 17,000 BTC, 224,000 ETH, and 700,000 USDT, making it possible to trace his wallets on public blockchains.

Security concerns and precedent - The filing cites past violent incidents involving wealthy crypto holders, such as kidnappings and physical assaults, to argue that publicizing his holdings could increase the likelihood of targeted crimes. Sun’s legal team says such exposure would also undermine broader privacy norms for high-net-worth individuals.

Bloomberg’s response and next steps - Bloomberg has already published Sun’s profile and stated it will oppose the restraining order, arguing press freedom protections under the First Amendment. The outlet also noted it had assigned a low confidence rating to the data, which Sun says further supports his case for blocking publication. He is seeking temporary and permanent injunctions, reimbursement of legal fees, and a jury trial.

Coinbase hit by $300K MEV drain; BtcTurk sees $48M outflows

Key points:

  • Coinbase lost nearly $300,000 after a token approval error allowed an MEV bot to drain its corporate fee wallet. Customer funds remained unaffected, according to CSO Philip Martin.

  • BtcTurk halted crypto deposits and withdrawals while investigating about $48 million in suspicious multi-chain transfers. Cold wallets are reportedly secure.

News - Coinbase has confirmed that a misconfigured interaction with 0x’s permissionless swapper contract resulted in a corporate wallet mistakenly approving tokens for spending. This allowed a monitoring MEV bot to extract around $300,000 from its fee receiver account. CSO Philip Martin described the incident as isolated, linked to a configuration change, and assured that customer assets were safe. The company has since revoked allowances and moved funds to a new wallet.

This case highlights how quickly token approval missteps can be exploited. Previous MEV-related mishaps include a bot losing $180,000 in Ether due to access control issues and a 2023 validator event where $25 million was drained from MEV bots.

In a separate incident, on-chain analysts spotted roughly $48 million moving from Turkey’s oldest crypto exchange BtcTurk’s wallets across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon. Most of the funds consolidated into two addresses. The exchange paused deposits and withdrawals, citing a hot wallet issue, but kept trading and local currency services operational. Authorities have been notified, and the investigation is ongoing.

MEV risks in DeFi integration - As more centralized exchanges connect with DeFi protocols, minor configuration errors can create fast-moving vulnerabilities. Proactive allowance reviews and automated revocations are becoming essential safeguards.

What to watch:

  • Coinbase’s post-mortem 0x routing and any policy changes around corporate DEX wallets.

  • BtcTurk’s forensic findings, recovery efforts, and timeline for restoring withdrawals.

Interesting facts

  • Chinese regulators have instructed major brokerage firms to stop publishing or promoting research on stablecoins, aiming to curb the rising domestic retail interest in these digital assets.

  • Crypto firms are rushing to the IPO market. Bullish raised over $1.1 billion in its NYSE debut, Circle’s stock jumped from $31 to $153.16, and more players like Kraken and BitGo are preparing to go public amid renewed investor enthusiasm.

  • Crypto.com is expanding regulation and services. It secured an EU MiCA license, launched U.S. institutional trading and stock/ETF support, opened a Washington, D.C. office, and partnered with Dubai’s government to settle fees in crypto this year.

Top 3 coins of the day

Kaia (KAIA)

Key points:

  • At press time, KAIA traded at $0.167, marking a 5.82% rise over the past 24 hours.

  • The price climbed toward the upper Bollinger Band, while the CMF stayed positive at 0.17, reflecting continued buying pressure.

What you should know:

KAIA’s latest surge came after a strong daily close above its mid-Bollinger Band, with buying volumes rising to 70.2M. The Chaikin Money Flow’s (CMF) sustained positive reading suggested persistent capital inflows, supporting the upward move. On the chart, resistance remains near $0.173, with the lower Bollinger Band offering support around $0.152. A major boost likely came from Kaia’s recent integration into the BORA gaming ecosystem, which enabled dual staking rewards, a $2M liquidity pool, and fee-burning mechanics to reduce supply. Regulatory optimism over South Korea’s stablecoin legislation also added to bullish sentiment, with potential adoption of a KRW-pegged stablecoin via Kakao’s ecosystem. Traders may watch for a breakout above $0.173, which could trigger further momentum if volume continues to expand.

Key points:

  • At press time, TRX was trading at $0.36, logging a 1.63% increase in the last 24 hours.

  • The Parabolic SAR stayed below the candles, while the RSI hovered near 80.90, indicating strong bullish momentum.

What you should know:

TRX extended its recent rally after breaking past the $0.35 level, supported by a daily volume of 381.06M. The Relative Strength Index’s (RSI) near-overbought reading reflected intense buying pressure, with the Parabolic SAR confirming the uptrend. Immediate resistance lies near $0.37, while support is around $0.34. A likely catalyst was TRON founder Justin Sun’s lawsuit against Bloomberg over the disclosure of his 60B TRX holdings, which drew significant market attention. While the news reignited debates on centralization risks, traders largely interpreted it as a sign of Sun’s strong vested interest in TRON’s future, fueling positive sentiment.

Raydium (RAY)

Key points:

  • At press time, RAY was trading at $3.81, with a 0.98% rise over the past 24 hours.

  • The Parabolic SAR stayed below the candles, while the MACD histogram showed strengthening bullish momentum.

What you should know:

RAY continued its upward push after recently breaking above the $3.59 pivot, supported by 10.36M in daily volume. The bullish MACD crossover and sustained Parabolic SAR positioning suggested buyers remained in control, with immediate resistance near $3.82 and support at $3.59. A key driver was Raydium’s $5.7M buyback in July, which removed 1.3% of its circulating supply, coupled with surging Solana DEX activity that boosted RAY’s liquidity demand. Market share gains in tokenized equities and steady protocol revenue reinforced optimism, positioning the asset for potential continuation if volume stays elevated above resistance.

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