Cryptocurrency market wipes out $130 billion in 24 hours
The post Cryptocurrency market wipes out $130 billion in 24 hours appeared on BitcoinEthereumNews.com.
The cryptocurrency market faced heavy selling pressure in recent hours as traders reacted to large whale movements and rising outflows from spot exchange-traded funds (ETFs). As of press time, the global crypto market capitalization stood at $3.88 trillion, down from $4.01 trillion just 24 hours earlier, a $130 billion loss. Total global crypto market cap. Source: CoinMarketCap The sharp decline was led by Bitcoin (BTC), which slipped 2.61% in the past day to trade at $111,891 as of press time. On the weekly chart, the leading cryptocurrency has fallen 1.6%. Bitcoin seven-day price chart. Source: Finbold Bitcoin whale transaction shed $4,000 from BTC The sell-off, which fueled broader investor skepticism, was sparked by a notable whale transaction. In this case, an unidentified whale sold 24,000 BTC worth more than $2.7 billion on Sunday. Consequently, this massive sale triggered an immediate $4,000 drop in Bitcoin’s price within minutes. Despite this move, the whale still holds 152,874 BTC valued at over $17 billion. If the wallet initiates additional sales, investors should brace for further market losses. JUST IN: A Bitcoin whale sold 24,000 BTC worth over $2.7 billion, causing today’s -$4,000 crash in minutes. They still hold 152,874 BTC worth more than $17 BILLION. 😳 h/t @SaniExp pic.twitter.com/m4aM9JwlAO — Bitcoin Archive (@BTC_Archive) August 24, 2025 On the other hand, Ethereum (ETH) also joined the broader decline after hitting a new all-time high on Sunday. The second-largest cryptocurrency was trading at $4,659 at press time, reflecting a weekly loss of 2.89%. The sell-off has also been driven by waning institutional interest, as highlighted by rising ETF outflows. To this end, between August 18 and August 22, Bitcoin spot ETFs recorded net outflows of $1.17 billion, led by BlackRock’s iShares Bitcoin Trust (IBIT), which saw $615 million in redemptions. Ethereum ETFs also reversed course,…
Filed under: News - @ August 25, 2025 7:29 am