Latest Crypto News, August 14 – Bitcoin Price Hits A New ATH Over $124K: Next Crypto To Explode?

After reaching a new ATH, Bitcoin’s price dropped as U.S. Producer Price Index (PPI) data showed the highest annual increase in over two years.

July PPI jumped 3.3%, well above the 2.5% forecast, sparking a 5% BTC pullback and over $1 billion in liquidations. Despite the dip, Bitcoin remains resilient, trading at $118,400 and holding its long-term uptrend.

On August 14, U.S.-listed Bitcoin ETFs still recorded net inflows of 452 BTC ($53.9M), led by ARK21Shares at 299 BTC ($35.62M). BTC now accounts for 1.7% of global money supply and has surpassed Google as the 5th largest global asset by market cap.

Following the hype around Bitcoin, Bitcoin Hyper (HYPER) — the first Bitcoin Layer-2 — has raised over $9.7 million in its presale just two months after launch. Powered by the Solana Virtual Machine (SVM), HYPER makes BTC programmable, enabling fast transactions for DeFi, gaming, NFTs, and more. Its bridge system locks BTC to mint wrapped BTC (WBTC), fueling its on-chain ecosystem.

HYPER is a network gas token, dApp access key, and future governance tool via its DAO. This utility, paired with Bitcoin’s market strength, is why early backers see 100x potential.

By combining Bitcoin’s institutional backing and growing market volumes with Layer-2 scalability, HYPER positions itself as a catalyst for broader BTC adoption.

Presale purchases are $0.012675 for the next 24 hours, available via SOL, ETH, USDT, USDC, BNB, or bank card, with Best Wallet recommended. 

According to Cyvers Alerts, Turkish crypto exchange BtcTurk, the country’s second-largest and oldest platform, has been hit by a major security breach. Blockchain security firm Cyvers Alerts reported that more than $48 million in digital assets were stolen in a coordinated attack.

The incident, detected about 30 minutes before the announcement, involved suspicious activity across multiple blockchains, including Ethereum (ETH), Avalanche (AVAX), Arbitrum (ARB), Base (BASE), Optimism (OP), Mantle (MANTLE), and Polygon (MATIC). Most of the stolen funds were funneled into two main wallet addresses before being swapped into other assets.

The U.S. Producer Price Index (PPI) rose sharply in July, signaling stronger-than-expected inflationary pressures. Annual PPI climbed 3.3%, well above the 2.5% forecast, with the previous reading revised up to 2.4%. On a monthly basis, prices surged 0.9%, the biggest gain since June 2022. PPI tracks the prices businesses receive for goods and services before they reach consumers, making it a key early indicator of inflation trends.

The spike suggests rising input costs for producers, which could feed into consumer prices if companies pass them along. That raises the risk of the Federal Reserve keeping interest rates higher for longer to prevent inflation from re-accelerating. Higher borrowing costs could slow investment, weigh on housing and credit markets, and dampen consumer spending. Markets may also see increased volatility as investors reassess the outlook for Fed policy and economic growth.

Strategy (MicroStrategy) Executive Chairman Michael Saylor told Fox Business Network that Bitcoin’s average annualized return has exceeded 50%, yet Wall Street continues to undervalue the broader crypto ecosystem. Despite being the fourth most profitable U.S. financial company and a top performer in the S&P 500, Saylor said MicroStrategy remains overlooked by traditional valuation metrics like the P/E ratio.

He argued that firms relying on U.S. Treasuries for capital trail the market by about 10% yearly, while those adopting Bitcoin as a capital standard could outperform the S&P 500 by roughly 40% annually: a shift he sees becoming the corporate norm.

The Ethereum Foundation (EF) has been selling small amounts of ETH during price rallies, while BlackRock continues to buy. The latest transactions concluded for 2,800 ETH worth $12,7 million. As they have stated, these sales are part of normal treasury management to fund development, research, and events.

Vitalik Buterin says the sales help Ethereum Foundation stay neutral and avoid risks with staking, such as being forced to stake sides during controversial upgrades. At the same time, BlackRock’s Ethereum ETF has been pulling in large amounts of institutional money.

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The hacker behind the $53 million Radiant Capital exploit has nearly doubled their haul to $102.54 million by trading Ethereum. Ten months ago, the attacker drained the funds and converted them into 21,957 ETH. This week, blockchain data shows the wallet began realizing profits, selling 9,631 ETH for about $43.94 million at an average price of $4,562.

The remaining balance stands at 12,326 ETH, worth roughly $58.6 million. The trades represent a $49.5 million gain, or a 93.5% profit.