Bitcoin\u2019s price took an unexpected turn for the worse minutes ago as it dumped from over $121,000 to under $118,000.<\/p>\n
The altcoins have it even worse, with more painful declines that have harmed over-leveraged traders, as the total value of wrecked positions surges toward $1 billion.<\/p>\n
<\/a>BTCUSD. Source: TradingView<\/p>\n It has been quite the day for the primary cryptocurrency. Recall that just hours ago, the asset flew<\/a> to a new all-time high, surpassing $124,500 for the first time ever.<\/p>\n However, it dropped<\/a> by a few grand later during the day and calmed at around $121,000. In the past 10-15 minutes, though, the bears suddenly took complete control of the market, pushing bitcoin below $118,000 in a violent red candle.<\/p>\n BTC bounced off almost immediately and now sits a grand and a half higher, but it\u2019s still $5,000 away from the new peak charted earlier today.<\/p>\n The altcoins have followed suit with painful declines from the likes of ETH, XRP, SOL, DOGE, and ADA \u2013 all of which have dropped by 2-3% in the past hour alone.<\/p>\n The most notable news that came out in the past few hours is somewhat bullish, so that\u2019s probably not the reason behind the crash. After all, Putin said<\/a> the US is actively pursuing peace between Russia and Ukraine and even hinted at a possible nuclear deal.<\/p>\n What could have had a bigger negative impact on BTC\u2019s price is actually the wholesale inflation data that came out earlier today. According<\/a> to CNN, the surge was the highest in over three years.<\/p>\n Nevertheless, the liquidations have skyrocketed to over $930 million on a daily basis. Moreover, they are close to $460 million in the past hours alone. CoinGlass data shows that 207,000 traders have been wrecked in the past day.<\/p>\n <\/a>Liquidation Heat Map. Source: CoinGlass<\/p>\n The post Bitcoin Suddenly Crashes Under $118K as Liquidations Surge Toward $1B<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin\u2019s price took an unexpected turn for the worse minutes ago as it dumped from over $121,000 to under $118,000. The altcoins have it even worse, with more painful declines that have harmed over-leveraged traders, as the total value of wrecked positions surges toward $1 billion. BTCUSD. Source: TradingView It has been quite the day […]<\/p>\n","protected":false},"author":0,"featured_media":88419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88418"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/88419"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>BTCUSD. Source: TradingView<\/p>\nIt has been quite the day for the primary cryptocurrency. Recall that just hours ago, the asset flew<\/a> to a new all-time high, surpassing $124,500 for the first time ever.<\/p>\nHowever, it dropped<\/a> by a few grand later during the day and calmed at around $121,000. In the past 10-15 minutes, though, the bears suddenly took complete control of the market, pushing bitcoin below $118,000 in a violent red candle.<\/p>\nBTC bounced off almost immediately and now sits a grand and a half higher, but it\u2019s still $5,000 away from the new peak charted earlier today.<\/p>\nThe altcoins have followed suit with painful declines from the likes of ETH, XRP, SOL, DOGE, and ADA \u2013 all of which have dropped by 2-3% in the past hour alone.<\/p>\nThe most notable news that came out in the past few hours is somewhat bullish, so that\u2019s probably not the reason behind the crash. After all, Putin said<\/a> the US is actively pursuing peace between Russia and Ukraine and even hinted at a possible nuclear deal.<\/p>\nWhat could have had a bigger negative impact on BTC\u2019s price is actually the wholesale inflation data that came out earlier today. According<\/a> to CNN, the surge was the highest in over three years.<\/p>\nNevertheless, the liquidations have skyrocketed to over $930 million on a daily basis. Moreover, they are close to $460 million in the past hours alone. CoinGlass data shows that 207,000 traders have been wrecked in the past day.<\/p>\n<\/a>Liquidation Heat Map. Source: CoinGlass<\/p>\nThe post Bitcoin Suddenly Crashes Under $118K as Liquidations Surge Toward $1B<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s price took an unexpected turn for the worse minutes ago as it dumped from over $121,000 to under $118,000. The altcoins have it even worse, with more painful declines that have harmed over-leveraged traders, as the total value of wrecked positions surges toward $1 billion. BTCUSD. Source: TradingView It has been quite the day […]<\/p>\n","protected":false},"author":0,"featured_media":88419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88418"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/88419"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"http:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/BTCUSD-10.png\"){kind=link}
![<\/a>Liquidation Heat Map. Source: CoinGlass<\/p>\nThe post Bitcoin Suddenly Crashes Under $118K as Liquidations Surge Toward $1B<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Bitcoin\u2019s price took an unexpected turn for the worse minutes ago as it dumped from over $121,000 to under $118,000. The altcoins have it even worse, with more painful declines that have harmed over-leveraged traders, as the total value of wrecked positions surges toward $1 billion. BTCUSD. Source: TradingView It has been quite the day […]<\/p>\n","protected":false},"author":0,"featured_media":88419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-88418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88418"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/88418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/88419"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"http:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/08\/Screenshot-2025-08-14-154457.png\"){kind=link}