{"id":7657,"date":"2025-08-13T11:24:30","date_gmt":"2025-08-13T11:24:30","guid":{"rendered":"https:\/\/bitunikey.com\/news\/crypto-prices-today-bitcoin-price-at-120k-ip-down-17-sol-jumps\/"},"modified":"2025-08-13T11:24:32","modified_gmt":"2025-08-13T11:24:32","slug":"crypto-prices-today-bitcoin-price-at-120k-ip-down-17-sol-jumps","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/crypto-prices-today-bitcoin-price-at-120k-ip-down-17-sol-jumps\/","title":{"rendered":"Crypto prices today: Bitcoin price at $120k, IP down 17%, SOL jumps"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">The total capitalization of the crypto market rose to an all-time high as Bitcoin reclaimed the $120k level and Ethereum closed in on its all-time high. Against this backdrop, Story protocol\u2019s IP was down on the weekly time frame while SOL posted strong gains.<\/p>\n<div id=\"cn-block-summary-block_35a4b3c8d96bedbace57e81c460d4ffa\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Crypto market cap hit a record $4.16T as Bitcoin traded above $120K and Ethereum neared its all-time high.<\/li>\n<li>SOL surged 15% to over $200, with a potential breakout target of $252 if it clears $213.<\/li>\n<li>Story Protocol\u2019s IP fell 17% from its weekly high after breaking below a rising channel, with downside targets at $4.10 and $2.40.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The combined market cap of all cryptocurrencies climbed to an all-time high of $4.16 trillion on Wednesday, Aug. 13, extending this week\u2019s gains to nearly 10% amid what appears to be an ongoing crypto bull season following years of market consolidation and gradual recovery.<\/p>\n<p>The crypto market continued to rise today, driven by a combination of macroeconomic and regulatory factors, along with increasing odds of a Fed rate cut over the past weeks, which is typically bullish for risk-on assets such as cryptocurrencies.<\/p>\n<p>Odds of a Fed rate cut first rose after weak U.S. non-farm payrolls showed stalled hiring amid concerns over Donald Trump\u2019s tariffs. It climbed further when July CPI data published by the U.S. on Tuesday revealed headline inflation at 2.7% with core inflation up to 3.1%.<\/p>\n<p>The odds of a rate cut this year, as tracked on <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/polymarket.com\/event\/fed-rate-cut-in-2025?tid=1755076021325\" target=\"_blank\">Polymarket<\/a>, have now risen to 94%, while CME Fed futures climbed to over 87%.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Another major catalyst that has supported today\u2019s market rally was the U.S. decision to delay new tariffs on China by 90 days, extending the deadline to Nov. 10 this year. The move eased trade tensions between the world\u2019s two largest economies, boosting investor confidence and fueling broader risk-on sentiment in the crypto market.<\/p>\n<p>Bitcoin (BTC) was up 1.6% at $120,203, while Ethereum (ETH) jumped nearly 10%, with both hovering near record highs and fueling bullish sentiment across the market.<\/p>\n<p>The rally played out unevenly across the market. Investors seemed to be favoring bigger crypto projects this week, pushing SOL\u00a0 higher, while Story Protocol\u2019s IP slipped.<\/p>\n<h2 class=\"wp-block-heading\">Solana price analysis<\/h2>\n<p>Solana price (SOL) has risen 15% over the past 24 hours, and was trading above $200 for the first time this month. Today\u2019s rally has extended its gains to 28% from its monthly low.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">SOL price chart \u2014 Aug. 13 | Source: crypto.news<\/figcaption><\/figure>\n<p>On the chart, SOL\u2019s price action has taken shape within a rising wedge \u2014 two upward-sloping trendlines gradually converging toward each other. The setup comes alongside a golden cross, where the 50-day moving average has climbed above the 200-day, a move traders often view as a strong bullish signal.<\/p>\n<p>If buyers succeed in pushing the price above $213 by the close of the session, it would confirm a breakout from the rising wedge. Such a breakout could set a potential target of $252, a level that coincides with the 78.6% Fibonacci retracement.<\/p>\n<p>However, it should be noted that a rising wedge is typically considered a bearish reversal pattern. As such, if momentum fails to hold above $213, SOL could face a pullback toward the $175 region in its next move.<\/p>\n<h2 class=\"wp-block-heading\">Story protocol price analysis<\/h2>\n<p>While Story (IP) was up 2.7% in the past 24 hours, it remained 17% below its weekly high of $6.95.<\/p>\n<p>On the daily chart, the token had been trading within a rising channel pattern since early July. As of press time, it has broken below the channel\u2019s lower trendline, a move that typically signals a potential bearish reversal and the start of a downward trend.<\/p>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1827\" height=\"888\" src=\"https:\/\/bitunikey.com\/news\/wp-content\/uploads\/2025\/08\/1755084270_412_Crypto-prices-today-Bitcoin-price-at-120k-IP-down-17.png\" alt=\"Crypto prices today: Bitcoin price at $120k, IP down 17%, SOL jumps - 2\" class=\"wp-image-14405212\"><figcaption class=\"wp-element-caption\">IP price chart \u2014 Aug. 13 | Source: crypto.news<\/figcaption><\/figure>\n<p>Meanwhile, the Supertrend indicator has shifted to green as the price moved below it, indicating a sell signal and reinforcing the bearish outlook. The Relative Strength Index (RSI) is recovering after dipping to 53, suggesting that selling pressure is easing slightly but not yet pointing to strong bullish momentum.<\/p>\n<p>Based on the breakdown from the rising channel, IP could continue falling toward the next target of $4.10. A drop below that level could open the path to the key support zone near $2.40.<\/p>\n<p>However, if the token rebounds to $6.30 by the end of the session, it could invalidate the bearish setup and signal a potential return to the prior uptrend.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<div class=\"cn-block-disclaimer\">\n<div class=\"cn-block-disclaimer__icon\">\n            <svg class=\"icon icon-info\" aria-hidden=\"true\"><use xlink:href=\"#icon-info\"><\/use> <\/svg>        <\/div>\n<p class=\"cn-block-disclaimer__content\">\n            Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.        <\/p>\n<\/p><\/div>\n<p><!-- .cn-block-disclaimer --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The total capitalization of the crypto market rose to an all-time high as Bitcoin reclaimed the $120k level and Ethereum closed in on its all-time high. Against this backdrop, Story&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=7657"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7657\/revisions"}],"predecessor-version":[{"id":7658,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/7657\/revisions\/7658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/7655"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=7657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=7657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=7657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}