26-8-2025 – Cryptocurrency markets suffered a brutal selloff that wiped out approximately 200,000 traders and triggered over $900 million in liquidations within 24 hours, as Bitcoin tumbled to its lowest level since July 9, according to CoinGlass data.
Bitcoin briefly dropped below $109,000 on Coinbase, erasing gains that followed Federal Reserve Chair Jerome Powell’s dovish Jackson Hole remarks last Friday. The cascade began when a large holder dumped 24,000 BTC, intensifying selling pressure and triggering widespread long position liquidations. BTC Markets analyst Rachael Lucas noted that weekend liquidity conditions amplified the market swings.
The leading cryptocurrency has now shed 12% from its August 14 all-time high of $124,000 and sits 7% below levels reached after Powell hinted at monetary policy easing. Total crypto market capitalization fell below $4 trillion again, losing nearly $200 billion as the broader market gave back last week’s advances.
Ethereum demonstrated relative resilience, holding above $4,340 and maintaining support above recent lows, though most altcoins including Solana, Dogecoin, and Cardano posted steeper declines than Bitcoin.
