- Bitcoin trades at $116,682, up 3.1% daily; market cap $2.32T; 57% dominance, circulating supply near 20M outstanding today.
- Philippine bill proposes a National Bitcoin Reserve targeting 10,000 BTC; ETFs record $1B outflows; Powell signals potential cuts.
Bitcoin (BTC) is currently trading at $116,682 USD, reflecting a 3.1% increase in the past 24 hours, with a market capitalization of $2.32 trillion and a 24-hour trading volume of $36.7 billion.
BTC remains the dominant asset in the crypto market, holding 57% dominance, far ahead of Ethereum at 13.8%. With nearly 20 million BTC in circulation out of the maximum capped supply of 21 million, Bitcoin continues to reinforce its position as the leading digital asset.
The most relevant news today comes from multiple fronts. A Philippine lawmaker has introduced a bill proposing a National Bitcoin Reserve, targeting the accumulation of 10,000 BTC over the next five years to strengthen national financial stability.Â
Meanwhile, Bitcoin ETFs have seen $1 billion in outflows over the past five days, reflecting short-term de-risking by institutional investors amid broader market uncertainty. On the macroeconomic side, Fed Chair Jerome Powell hinted at potential interest rate cuts, sparking renewed bullish momentum for Bitcoin, which surged past $116K following the announcement.
🚨 BREAKING: Fed Chair Jerome Powell just said it may actually be time for an interest rate cut. Odds are surging on Polymarket.
TOO LATE.
He is costing us hundreds of billions for no good reason. pic.twitter.com/dvelWT0qqZ
— Eric Daugherty (@EricLDaugh) August 22, 2025
On the financial front, BTC remains 6.6% below its all-time high of $124,128, but it has delivered an extraordinary 91.5% yearly gain, signaling strong long-term adoption.
Despite recent ETF outflows, Bitcoin’s resilience demonstrates that institutional interest remains intact, with accumulation continuing through strategic reserves and sovereign interest in Bitcoin-backed financial frameworks.
From a technical analysis standpoint, Bitcoin is consolidating above $116,000 support, with the next resistance level at $118,500 USD.
A successful breakout could push BTC toward retesting its all-time high zone above $124K, while a rejection may lead to retracement toward the $113,000–$111,000 support levels. On-chain metrics show steady whale accumulation, supporting bullish mid-term sentiment.
