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  • ๏ปฟAnjali Belgaumkar
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    Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto โ€œEnthusiastโ€ but trust me I'm getting there.

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  • Reviewed by: Qadir AK
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    Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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  • 2 minutes read

Crypto Pullback: Bitcoin Slides Under $114K as Whale Triggers $310M Flash Crash

Story Highlights
  • Crypto Market Dips to $3.95T Amid Bitcoin Whale Dump โ€“ BTC drops below $114K as a single whale sells 24,000 coins, triggering liquidations.

  • Ethereum and Altcoins Hold Strong Despite Market Pullback โ€“ ETH, XRP, BNB, and Solana remain resilient; BNB gains from $100M China Renaissance investment.

The global cryptocurrency market cap slipped to $3.95 trillion, a decline of 0.89 percent in the past 24 hours. Investor sentiment has cooled back to neutral, with the Fear & Greed Index at 50. The CMC100 index also reflected the weakness, dropping 1.18 percent to $244.57. While the long-term outlook for digital assets remains bullish, the latest pullback is a reminder that sudden whale activity can reset trends in a matter of hours.

Bitcoin Leads the Decline

Bitcoin dropped back below $114,000, erasing gains made after the Federal Reserveโ€™s dovish rate outlook. Analysts point to a dramatic on-chain event as the cause: a whale dumped over 24,000 BTC, worth nearly $310 million, in one transaction. The wallets linked to this whale still hold over 152,000 BTC, with the funds traced back to deposits on HTX six years ago.

The move sparked liquidations across major exchanges, especially among leveraged traders. Bitcoin โ€œreversed all of Fridayโ€™s gainsโ€ and emphasized that consolidation throughout August and September should be expected. While corrections are normal, Bitcoin is taking the heaviest hit compared to other large-cap cryptocurrencies.

Ethereum and Altcoins Hold Relatively Strong

Ethereum has shown more resilience, holding above $4,700 despite a mild 0.83 percent dip in the past day. Over the week, ETH is still up more than 10 percent, supported by staking inflows and growing institutional demand.

XRP traded at $3.04, slipping by 0.31 percent, while BNB hovered around $877.86, almost unchanged. BNBโ€™s stability comes in the wake of a major announcement: China Renaissance has invested $100 million into BNB, becoming the first Hong Kongโ€“listed company to hold the token. 

Solana, which has been one of the strongest performers in recent weeks, fell to $210.47, down 0.93 percent on the day but still holding a 15 percent weekly gain. Dogecoin slid to $0.2322, losing 1.54 percent, as meme coins followed the broader correction.

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FAQs

Why did the crypto market drop today?

A whale sold 24,000 BTC worth $310M, triggering liquidations and cooling investor sentiment.

Why did Ethereum perform better than Bitcoin?

Ethereum showed more resilience, holding above $4,700 and up 10% over the week, supported by staking inflows and growing institutional demand.

How much Bitcoin does the whale who sold the coins still hold?

The wallets linked to the whale still hold over 152,000 BTC, with the funds traced back to deposits on HTX six years ago.

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