Bitcoin News Today: Crypto Market Loses $130 Billion in 24 Hours Amid Whale Sales and ETF Outflows

The global cryptocurrency market faced an unprecedented 24-hour correction, with its total market capitalization dropping from $4.01 trillion to $3.88 trillion, a $130 billion loss. This sharp decline, driven by large whale transactions and rising outflows from spot exchange-traded funds (ETFs), marked one of the most significant single-day losses in the history of the digital asset class [1]. Bitcoin, the leading cryptocurrency, fell 2.61% to $111,891, with a further 1.6% decline on the weekly chart. Ethereum also saw a pullback, losing 2.89% on the week after reaching a new all-time high [1].

A major contributing factor to the sell-off was a large whale transaction in which an unidentified investor sold 24,000 BTC—worth over $2.7 billion—on Sunday. This sudden liquidation caused Bitcoin’s price to drop by $4,000 within minutes. Despite the sale, the whale still holds over 152,874 BTC, valued at more than $17 billion, raising concerns that further sales could continue to pressure the market [1].

The decline was also exacerbated by waning institutional interest, as evidenced by ETF outflows. Between August 18 and August 22, Bitcoin spot ETFs recorded $1.17 billion in net outflows, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for $615 million in redemptions. Ethereum ETFs also posted $238 million in net outflows, ending a 14-week streak of inflows [1].

In response to the volatility, crypto trading expert Ali Martinez highlighted the importance of Bitcoin maintaining the $112,000 support level. He noted that the cryptocurrency has frequently bounced from this level over the past month, making it a key demand zone. A breakdown below this threshold could open the door to further downward pressure [1].

Analysts attributed the recent downturn to a combination of profit-taking, macroeconomic uncertainty, and failed breakout attempts by both Bitcoin and Ethereum. The market’s sensitivity to large movements by high-net-worth individuals underscores the ongoing challenges of liquidity and stability in the digital asset space [1].

Source:

[1] Finbold. (2025, August 11). Cryptocurrency Market Wipes Out $130 Billion in 24 Hours. https://finbold.com/cryptocurrency-market-wipes-out-130-billion-in-24-hours/