TDP #50: Crypto Slides
See what's trending—before it happens.
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✍️ Editor’s note:
Bitcoin’s been drifting south in August, suggesting fears that Trump’s sweeping tariffs could knock crypto off-course. It has been a rollercoaster ride, and traders are pulling positions on prediction markets.
But what do analysts think? Is this crypto slide just for the short-term? Let’s find out below. 🧐
— The Daily Prediction Team
📉 What Will Bitcoin Price Be on August 6?
Bitcoin is hovering just above $113K, down from its July high of nearly $123K.
The beginning of August 2025 saw a notable downturn in the cryptocurrency market. This slide was widely attributed to new US tariffs enacted by the Trump administration on August 1.
For the short term, prediction traders believe that Bitcoin will not dip even further. On Polymarket, traders speculate that BTC will climb to $115K on August 6.
But for the long term, people aren’t quite as optimistic.
Kalshi traders are increasingly bearish about Bitcoin’s chances of reaching $150K.
Long-term projections for Bitcoin are sliding in prediction markets. What do the analysts say about this? 👀
🗣️ What the Analysts Say
As of August 5, 2025, Bitcoin is trading around $113,339.
BitMEX co-founder Arthur Hayes warns of potential further downside, predicting Bitcoin to test $100K amid tariff shocks and soft labor data. Mitrade reports on a range of forecasts, with some models suggesting an average price of around $112K for August, with a potential peak near $114,800.
Binance’s price prediction, based on user input and technical indicators, projects BTC to hover around $114,463 by tomorrow.
Despite the recent volatility, many reputable publications and analysts maintain a positive long-term outlook for Bitcoin.
In fact, CoinCDX says that if Bitcoin holds above the $117K-$118K support zone, it could surge by 6%-8%. This targets the $125K-$128K range by the end of the month.
It’s a bit difficult to be optimistic right now, but let’s keep our fingers crossed. 🤞
📉 How High Will Ethereum Get This Year?
Ethereum is part of the broader crypto market that might be affected by Trump’s imposed tariffs.
Although crypto isn’t directly targeted, the resulting market risk-off panic knocked Ethereum nearly 5% lower. ETH volume slumped, and more than $400M of long ETH positions were liquidated.
Prediction markets are also pulling their positions on the Ethereum market. On Kalshi, predictions for Ethereum hitting $5,000 in 2025 are declining.
Polymarket traders are also getting more anxious, with red marks all over this market.
🗣️ What the Analysts Say
As of August 5, 2025, Ethereum is trading around $3,587.40.
The crypto market experienced a sharp sell-off after the new tariffs. The total market capitalization dropped by nearly 4%.
Ethereum’s price instantly reacted by dipping over 5%, per Times of India. Other sources confirm the price dropping below the key $3,700 support level, with a potential re-test of the $3,500 psychological level.
Still, there’s some optimism in the air.
Despite the recent downturn, analysts at CoinDCX and Brave New Coin predict that Ethereum’s price could still rise in August. It could potentially reach $3,900-$4,000, and possibly aim for the $4,200 mark.
That’s just for August, though.
For a longer-term projection, a Binance analysis provides a 2025 forecast of around $3,681.02 for ETH. Arcane Research warns that broader macro tightening and risk aversion may keep ETH capped in the $3,500-$4,000 range. That’s unless major catalysts like ETF approval and CPI drop arrive.
Analyst forecasts for Ethereum are still a mixed bag for now. 🛍️
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🧐 Punting on the Peculiar
Warning, though: This list isn’t for everyone!
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🎭 Culture
Will MrBeast raise $40M for clean water by August 8? (Polymarket)
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