Crypto markets have entered a sharp downturn, with Bitcoin (BTC), Ethereum (ETH), and XRP all experiencing significant drops. Bitcoin fell from nearly $120,000 to $113,411, a 5.6% decline from its recent high. Ethereum took an even steeper hit, dropping 10.5% from Sunday’s peak of around $4,000 to $3,518. XRP followed a similar pattern, falling 10.2% from a high of $3.32 to $2.98.
This market-wide slump triggered over $905 million in liquidations within 24 hours, with the vast majority ($823 million) coming from long positions, or bets on price increases.
Several macroeconomic and geopolitical factors are cited as the cause of the sell-off:
- A disappointing U.S. jobs report, which led to the firing of a government official.
- New, sweeping tariffs levied by the White House, spooking both traditional and crypto markets.
- Increased geopolitical tension, including the deployment of nuclear submarines in response to threats from Russia.
Looking ahead, some analysts are predicting that Bitcoin’s price could continue to fall to as low as $80,000 in August and September before rebounding in Q4. This aligns with a previous Glassnode prediction that a drop below $110,000 could accelerate sell-offs. Despite the recent turmoil, some market participants remain optimistic, with predictors giving Bitcoin a 53% chance of rising to a new peak of $125,000 rather than falling to $105,000.
August 2025, Cryptoniteuae
