Bitcoin collapsed to $108,762 in a flash crash that erased weeks of gains, marking its lowest level in seven weeks — www.naijnaira.com reports.
CoinSwitch analysts linked the sudden drop to a whale unloading 24,000 BTC, which triggered cascading liquidations exceeding $550 million.
Riya Sehgal of Delta Exchange described the event as a “massive long squeeze” that fueled nearly $950 million in wiped-out positions across the market.
Despite the heavy selling, Bitcoin ETFs saw $219 million in fresh inflows, suggesting institutional demand has not waned.
Ethereum also fell sharply, tumbling from a recent high of $4,953 to $4,411, representing an 11% correction in just days.
Trading data showed Ethereum ETFs attracted $444 million, underlining strong interest from large investors even during the downturn.
Altcoins joined the rout, with Solana, Dogecoin, Cardano, and XRP all dropping over 11%, while Fartcoin lost more than 20% in a single session.
CoinDCX reported that more than 205,000 traders were liquidated in 24 hours, totaling $935 million in losses.
Analysts warn September often delivers bearish patterns in bull cycles, with $105,000 for Bitcoin and $4,300 for Ethereum flagged as critical support levels.
Article updated 3 weeks ago. Content is written and modified by multiple authors.
