Ethereum News Today: Bitcoin Dips 3% After Whale Sell Order Triggers $2.7 Billion Outflow

The cryptocurrency market experienced a notable downturn late on Sunday and early Monday, with Bitcoin (BTC) and a range of altcoins seeing significant declines after a brief rally earlier in the week. Bitcoin, which briefly climbed to $117,416 on Friday, fell to an intraday low of $110,635 on Sunday, finishing the session around $111,699 with a nearly 3% drop over the past 24 hours. Analysts attribute the weekend crash to a large sell order by a whale, which triggered a $2.7 billion outflow and led to $623 million in liquidations, according to on-chain data from CoinGlass [1]. The selling pressure persisted into the new week, with BTC struggling to stay above $111,000 [2].

Ethereum (ETH) reached a new all-time high of $4,953 late Sunday but quickly lost momentum, retreating to $4,608 by Monday. Despite the sharp decline, ETH remains above the critical $4,000 level. The altcoin has benefited from growing institutional interest, including recent large purchases by companies such as Bitmine Immersion Technologies, and continued inflows into Ethereum ETFs [3]. According to Ben Kurland of KYOR, the increasing adoption of ETH as a stakable treasury asset is shifting the dynamics of demand, reinforcing ETH’s long-term upward trajectory [4].

Solana (SOL) has struggled to maintain price above $200, with a recent peak of $212 on Sunday followed by a nearly 4% drop to around $197. The altcoin has shown a pattern of rapid rebounds amid high volatility, with a 7% rally on Wednesday to reclaim $180 after a steep decline the previous week. However, the market remains under pressure, with sellers exerting control around key resistance levels, suggesting further downside could be possible [5].

Ripple (XRP) has also seen declining momentum, dropping nearly 3% in the past 24 hours to trade at $2.94. The altcoin faced sharp selling pressure on Tuesday, falling from $3 to $2.86, and has shown minimal recovery despite a modest rebound on Wednesday. XRP remains below the 20-day simple moving average, a key technical indicator for trend direction [6].

Dogecoin (DOGE) fell nearly 5% on Monday, continuing its downward trend amid broader market weakness. After a brief rebound on Wednesday, the altcoin dropped again on Thursday and remains below its Friday high of $0.239. DOGE is currently trading at around $0.219, with bearish sentiment intensifying across the board [7].

The market volatility is also influenced by broader macroeconomic factors, including comments from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium, which initially fueled a rally in both BTC and ETH. However, the subsequent pullback highlights the ongoing sensitivity of crypto assets to regulatory and macroeconomic developments [8].

SBI Group and Chainlink announced a strategic partnership to develop crypto tools for traditional financial institutions in Asia, focusing on tokenized real-world assets and stablecoin verification. This partnership follows recent collaborations with Ripple Labs and Circle, indicating a broader trend of institutional integration into the crypto ecosystem [9].

Separately, Ethereum-based gaming network Xai filed a lawsuit against Elon Musk’s xAI, alleging trademark infringement and market confusion. The legal dispute adds to the growing number of intellectual property cases in the crypto and Web3 space, reflecting the increasing commercial stakes in the industry [10].

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[1]https://cryptodaily.co.uk/2025/08/crypto-price-analysis-8-25-bitcoin-btc-ethereum-eth-solana-sol-ripple-xrp-dogecoin-doge