Cryptocurrency plummets across the board, with over 130,000 people liquidated in the past 24 hours

Zhitong
2025.08.18 13:50

Today, the cryptocurrency market experienced a significant plunge. As of the time of this report, Bitcoin has fallen below $115,000, with a nearly 3% drop in the last 24 hours; Ethereum, Solana, and Cardano have all dropped over 6%. According to Coinglass, over $500 million in cryptocurrency contracts were liquidated in the past 24 hours, affecting more than 130,000 people. After the U.S. stock market opened, cryptocurrency-related stocks also collectively declined, with DeFi Development down over 6%, BMNR down nearly 5%, and Canaan Creative down over 2%. Coinbase, MicroStrategy, and Circle fell by 1%. Analysts pointed out that this round of selling in the cryptocurrency market is influenced by multiple factors, with profit-taking being one of the main reasons. Additionally, the weakening expectations for a Federal Reserve interest rate cut and the latest comments from U.S. Treasury Secretary Janet Yellen have also undermined confidence in the crypto space

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