Bitcoin Holds Steady Near $113K; Solana, Dogecoin Lead Gains

Bitcoin is trading near the $113,000 (PKR 3.2 crore) mark, showing modest stability as global markets await a pivotal speech from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium.

The crypto sector’s resilience will be tested in the next few hours as rising macroeconomic tension and fading hopes of a September rate cut loom large.

Macro Pressures Cloud Crypto Outlook

Bitcoin recently plunged below $113,000, dipping as low as around $112,668 for the first time in weeks. All of this came as investors move into defense ahead of Powell’s address. Key inflation data and hawkish signals from central bankers have dampened market optimism. Futures markets have now pulled back on earlier rate cut bets, reflecting growing uncertainty.

According to crypt analyst Ryan Lee, if Bitcoin can sustain its base above $112,000, it may lay the groundwork for the next leg of the bull run. Meanwhile, the broader crypto market cap is contracting in between risk aversion, mirroring turbulence in traditional markets.

On the other hand, Coinbase CEO Brian Armstrong predicts Bitcoin will reach $1,000,000 by 2030. Which might seem crazy looking at the current market trends, but it is still a strong possibility. Bitcoin has a keen tendency to be unpredictable like that. Check out what he said:

JUST IN: Coinbase CEO Brian Armstrong predicts Bitcoin will reach $1,000,000 by 2030. pic.twitter.com/rT95DfJbTG

— Watcher.Guru (@WatcherGuru) August 20, 2025

Altcoins Outperform: Solana and Dogecoin Lead Speculative Rally

Despite anxiety around Bitcoin, Solana (SOL) and Dogecoin (DOGE) are outperforming, with recent gains of approximately 3 to 3.5 percent and 4.7 percent, respectively.

Other major tokens like Ethereum, XRP, and BNB saw modest gains ranging from 1 percent to 3 percent, suggesting selective investor moves into high beta assets.

Sentiment Shows Fear: Bitcoin Navigates Risk

Crypto’s Fear and Greed Index has plunged to 44, pushing the dial into Fear territory for the first time in weeks, a cautionary sign for bullish momentum. Amid this moderation, Whale and institutional flows offer long term ballast, but ETF redemptions and short term traders are poised to react sharply to Powell’s tone.

Why This Jackson Hole Week Matters

Powell’s forthcoming speech is shaping up to be a major market inflection point. A dovish signal or renewed easing expectations could reignite crypto rallies. While confirmation of a cautious Fed may prompt further corrections, especially in Bitcoin as markets have become increasingly reactive.

All eyes are on Bitcoin’s volatility as time passes by, hoping to gain maximum profits from any eventuality.