Cryptocurrencies: Correction mode after all-time highs

First, it rose due to the expected US interest rate cut, but then fell sharply: Bitcoin is currently weakening. Ethereum is now significantly outperforming Bitcoin in terms of development this year.

28 August 2025. FRANKFURT (Börse Frankfurt). Setback after all-time high – since reaching a record high of $124,034 in mid-August, Bitcoin has lost considerable ground, falling to $111,000. The selling pressure is said to be attributable to a single large investor, known as a “whale.” This investor is said to have sold 24,000 Bitcoin in a short period of time. André Dragosch of the issuer Bitwise sees global growth expectations over the past six months as the key driver behind Bitcoin's rise from $80,000 in February to its all-time high. “Growth expectations have recently eased, which has weighed on Bitcoin's performance,” he explains. On Thursday morning, the most important cryptocurrency is trading at $113,000.

According to Timo Emden of the analysis firm Emden Research, the supportive environment is now over: “The fantasies of interest rate cuts in the US have once again given way to a sober view,” Emden explained in WirtschaftsWoche. “Investors are concerned that tariffs could fuel inflation and dampen hopes for interest rate cuts.” However, Dragosch from Bitwise is confident about Bitcoin & Co: “All in all, Bitcoin and other crypto assets are in a bull market, as the global money supply is likely to increase with further interest rate cuts by the Fed and a further acceleration in US money supply growth,” he explains.