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Bitcoin Hammered Below $109K as Conference Indicator Strikes Again
Negative price action around the annual U.S.-based Bitcoin Conference has been well-documented, but it also appears to have applied to this week's Bitcoin Asia get-together.
Updated Aug 29, 2025, 2:35 p.m. Published Aug 29, 2025, 2:31 p.m.
What to know:
- Bitcoin has shown a clear pattern of poor price performance around Bitcoin Magazine's U.S.-based Bitcoin Conference.
- Similar action is being seen around that group's Bitcoin Asia conference this week.
- Bitcoin has tumbled to its lowest level since July at $108,400.
Historical data around Bitcoin Magazine's annual U.S. Bitcoin Conference has shown a clear pattern of poor price performance for bitcoin during and just after the event. The indicator didn't disappoint in 2025, with bitcoin struggling in late May/early June alongside and then following this year's Las Vegas conference.
The logic behind that price action isn't that hard to decipher: in the weeks leading up to the show, conference organizers — looking to sell tickets and generate media coverage — overhype the speakers and what are sure to be "massive" announcements.
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What follows is the usual cast of influencers, bitcoin OGs and newcomers to the sector (this year the Trumps) extolling "freedom money," "massive institutional and sovereign adoption," and "bitcoin to the moon."
How could the price do anything but dump?
Bitcoin Asia
For those not paying close attention, Bitcoin Magazine's Bitcoin Asia conference took place this week in Hong Kong.
The featured speakers included Eric Trump, CZ, Adam Back, Balaji Srinivasan and David Bailey. Among the subject matter covered — you guessed it — "freedom money," "massive institutional and sovereign adoption," and "bitcoin to the moon."
The price action: sharply lower.
At around $115,000 as attendees began arriving in Hong Kong earlier this week, bitcoin has tumbled to the current $108,400. This included about a 4% dive overnight in the U.S. (Friday in Hong Kong) as David Bailey and Eric Trump took the stage for a chat titled "Bitcoin Takes Over the World."
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