Bitcoin (BTC) and Ethereum (ETH) opened the week with notable losses, as the 2 main cryptocurrencies retreated from their current highs.
In response to CryptoSlate’s knowledge, Bitcoin fell greater than 3% over the previous 24 hours, slipping from above $118,000 to round $115,303 on the time of writing.
Ethereum adopted swimsuit, dropping roughly 4% to $4,270 to finish its current streak of considerable positive aspects.
The broader market mirrored this weak point as the highest 10 cryptocurrencies by market cap, together with XRP, Binance Coin (BNB), Solana, Dogecoin, and Cardano, every posted common declines close to 4%.
In an Aug. 18 notice to buyers, analysts at Matrixport commented available on the market’s present place, noting that BTC’s break beneath the long-term downtrend line that had beforehand supplied assist was surprising.
In response to the agency, this sudden pullback may trigger Bitcoin costs to check the $112,000 degree forward of the US Federal Reserve’s September price choice.
They added:
“Technically, Bitcoin sits in no-man’s land between $112,000 and $117,292-leaving merchants with two clear methods: purchase power on a breakout larger, or wait to build up nearer to $112,000, whichever comes first.”
In the meantime, Matrixport emphasised that this yr’s Jackson Gap Financial Symposium is unlikely to offer substantial market-moving alerts, describing it as extra of a dialogue discussion board than a catalyst.
Consequently, the market would look towards the Sept. 17 FOMC assembly for clearer steering.
Ethereum merchants lose over $200 million
The sudden decline triggered a wave of liquidations throughout crypto markets that caught many merchants unaware.
Knowledge from CoinGlass signifies that roughly $534 million in leveraged positions had been liquidated, impacting over 127,000 merchants.
Lengthy positions suffered essentially the most, accounting for $447 million in losses, whereas brief positions contributed round $86 million.
Ethereum merchants skilled the sharpest blow, with liquidations totaling $212 million, virtually double the $111 million misplaced by Bitcoin merchants. Merchants of Solana, XRP, and Dogecoin additionally confronted vital losses, amounting to $31 million, $18 million, and $17 million, respectively.
On the time of press 9:16 am UTC on Aug. 18, 2025, Bitcoin is ranked #1 by market cap and the worth is down 2.21% over the previous 24 hours. Bitcoin has a market capitalization of $2.3 trillion with a 24-hour buying and selling quantity of $60.08 billion. Be taught extra about Bitcoin ›
On the time of press 9:16 am UTC on Aug. 18, 2025, the overall crypto market is valued at at $3.89 trillion with a 24-hour quantity of $167.73 billion. Bitcoin dominance is presently at 59.02%. Be taught extra concerning the crypto market ›
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