Over 140,000 Traders Liquidated as Crypto Market Crashes — Bitcoin Hits 1-Month Low
TradingKey – On Monday, August 25, the crypto market plunged across the board, with total market capitalization falling below $4 trillion, currently sitting at $3.92 trillion.
Over the past 24 hours, Bitcoin (BTC) dropped more than 2%, nearing the $110,000 mark and hitting its lowest level in a month. Other major assets including Ethereum (ETH), Solana (SOL), Binance Coin (BNB), and Ripple (XRP) also declined by over 1%.
The sharp downturn triggered widespread liquidations, particularly among leveraged long positions. According to CoinGlass data, more than 140,000 traders were liquidated in the past 24 hours, totaling $660 million in losses. Of that, $500 million came from long positions — accounting for 75% of the total.
Crypto Market Liquidation Data – Source: CoinGlass
Last Friday, Federal Reserve Chair Jerome Powell delivered a dovish message at the Jackson Hole Symposium, boosting market expectations for a September rate cut. Bitcoin surged more than 3% within an hour following his remarks.
However, the rally was short-lived. Fed officials including Lorie Logan, Susan Collins, and Neel Kashkari issued cautionary statements over the weekend, casting doubt on the likelihood of near-term easing. Their comments triggered renewed selling pressure, dragging Bitcoin and the broader crypto market lower.
Bitcoin Price Chart – Source: TradingView
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