The cryptocurrency market has been shaken by a wave of liquidations for a total of almost $ 808 million in the last 24 hours, with Bitcoin (BTC) which immerses itself below the critical threshold of $ 110,000.
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This mass sell-off canceled almost all the earnings triggered by the president of the Federal Rean READ comments by Jerome Powell to Jackson Hole a few days earlier, leaving investors to question whether the opportunity for immersion signals or danger.
Bitcoin Flash Crash triggers huge liquidations
The Illass Coing data show that long positions represented $ 696 million $ 112 million liquidated, underlining the way in which the too raised bullish traders were affected by the aforementioned.
Only Bitcoin saw $ 272 million liquidate, while Ethereum (ETH) followed the list to $ 262 million. Altcoin including Solana, XRP and Dogecoin have undergone two -digit losses, dragging the global market capitalization of almost $ 200 billion to $ 3.8 trillion.
The sudden recession was intensified by a Bitcoin whale that downloads 24,000 BTC for a value of $ 2.7 billion, triggering a flash accident that sent shock waves through exchanges. More than 200,000 traders have been liquidated, with the largest liquidation from a 39 million dollar BTC trade on HTX.
BTC's price trends to the downside on the daily chart. Source: BTCUSD on Tradingview
Are the whales buy the dip?
Despite the Sell-off, Blockchain Data reveals that during the recession they collected several large owners.
According to reports, a whale acquired 455 BTC ($ 50 million), while another spent almost $ 100 million USDC to accumulate Bitcoin and Ethereum. The diving of Bitmine, one of ETH’s major owners, also added almost 5,000 Eth to its reserves, reporting trust in long -term growth despite short -term volatility.
This “purchase the dive” behavior suggests that whales could see the correction as an entrance point, increasing the belief between some analysts that the market is experiencing a healthy restoration after weeks of overload.
What will come later for Bitcoin and Crypto?
While Bitcoin exists preciously about $ 110,000, analysts warn that the next critical support resides at $ 105,000. A break below this level could accelerate a drop towards the $ 92,000 – $ 100,000 interval. September was also historically a weak month for Crypto, adding a further reduction risk.
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However, the Futures High Records open and institutional flows in the ETH signal that the feeling has not become completely bearish. Whether this is the beginning of a deeper correction or just a shakeout before the next leg, one thing is clear: whales betraying quietly on a rebound.
Cover the chatgpt image, BTCUSD graphic designer from TradingView