Bitcoin News Today: Bitcoin Retraces 2.28% After ATH as $1.23B in Liquidations Fuel Crypto Sell-Off

The cryptocurrency market experienced a significant correction on August 15, 2025, dropping 2.5% following Bitcoin’s surge to an all-time high [1]. The rapid price swing erased approximately $950 million in positions, with $813 million attributed to long liquidations [2]. The Fear & Greed Index (FGI) remains at 60, signaling continued investor optimism but with a cautious edge [3].

Bitcoin initially touched $124,400 before retreating to around $118,993 within hours, a decline of 2.28%. Ethereum followed suit, falling 2.31% to $4,637 [1]. The sell-off was partly attributed to the release of stronger-than-expected U.S. Producer Price Index (PPI) data, which heightened concerns over inflation and potential monetary tightening by the Federal Reserve [2].

Altcoins and memecoins were hit hardest, with many experiencing drops of 3–5%. The speculative nature of these assets made them more vulnerable to the market correction [3]. Bitcoin’s market dominance also fell from 65% to 59%, indicating a brief shift in capital toward alternative cryptocurrencies before the broader decline took hold [4].

The impact of the sell-off was amplified by leveraged whale activity. On Hyperliquid, three major traders suffered substantial losses. One trader, James Wynn, lost $87 million in profits and $21.77 million in principal after a $1.23 billion Bitcoin position was liquidated. Another, @qwatio, had his $3 million investment wiped out, while AguilaTrades saw its portfolio reduced to just $30,000 in a matter of days [5]. The cumulative liquidations on the platform alone reached $1.23 billion, contributing significantly to the broader market downturn.

Large-scale investors moved $722 million worth of Bitcoin to Binance in a single day, reflecting growing uncertainty and a potential expectation of continued volatility [6]. On-chain data suggests that these movements were closely tied to key U.S. economic indicators, including jobless claims and retail sales, which pointed toward a more hawkish stance from the Federal Reserve [1].

Despite the sharp decline, HODLer Net Position Change data indicates that long-term investors remained relatively stable, suggesting bearish momentum may not be as entrenched as the price action implies [5]. Analysts have emphasized the importance of disciplined risk management, including the use of stop-loss orders and proper position sizing, in navigating the current volatile environment.

The total crypto market cap now stands at $4.28 trillion, and investors are closely watching whether this correction marks a short-term reset or the start of a broader downturn [3]. The recent events highlight the fragility of leveraged trading in a highly interconnected and rapidly shifting market [7].

[1] [Bitcoin Pulls Back Below $120K After New ATH as Whale ...](https://www.mitrade.com/insights/news/live-news/article-3-1041781-20250815)

[2] [Why Is Crypto Down Today? U.S. July PPI Surges, Triggers ...](https://99bitcoins.com/news/altcoins/live-latest-crypto-news-august-15-why-is-crypto-down-today-u-s-july-ppi-surges-triggers-crypto-market-sell-off-best-crypto-to-buy-during-this-dip/)

[3] [Crypto Market Drops 2.5% After Bitcoin ATH Surge](https://coinmarketcap.com/community/articles/689f296ad3fffe3dd57d9442/)

[4] [Bitcoin's Dominance Dips to 59% as Altcoin Market ...](https://www.ainvest.com/news/bitcoin-news-today-bitcoin-dominance-dips-59-altcoin-market-surpasses-1-4-trillion-2508/)

[5] [Shocking Hyperliquid Whale Losses: Three Major Traders Face Devastating Crypto Trading Losses](https://coinmarketcap.com/community/articles/68e9472723c6e2c96a1f000/)

[6] [BTC Falls Below $120K: Venus Whale Liquidated for 779.41 ...](https://blockchain.news/flashnews/btc-falls-below-120k-venus-whale-liquidated-for-779-41-vbtc-worth-usd-1-55m)

[7] [Crypto Market Liquidations Top $1B in 24 Hours: BTC, ETH ...](https://blockchain.news/flashnews/crypto-market-liquidations-top-1b-in-24-hours-btc-eth-volatility-risks-and-trading-checklist)