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Bitcoin drops to $110K as whale sell-off triggers liquidations
Bitcoin slid 4.3% this week, landing at $110,186 on Tuesday (August 26, 2024).
The drop came right after a quick jump above $117K sparked by talk of a possible US rate cut.
A major whale sell-off and $550 million in liquidations pushed prices down even further.
Ethereum sees strong ETF inflows amid market chaos
The whole crypto market lost about $200 billion, showing just how quickly things can swing.
Avinash Shekhar from Pi42 pointed out that big trades and global economic news have huge effects on Bitcoin's moves.
According to CoinSwitch Markets Desk, one major holder selling off triggered much of the chaos.
Still, Ethereum is seeing strong ETF inflows and more companies are adding crypto to their treasuries, hinting that long-term interest in digital assets isn't fading just yet.