Cryptocurrency market wipes out $130 billion in 24 hours

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 ￰0￱ global crypto market cap.), which slipped 2.61% in the past day to trade at $111,891 as of press ￰1￱ the weekly chart, the leading cryptocurrency has fallen 1.6%. Bitcoin seven-day price chart.) August 24, 2025 On the other hand, Ethereum ( ETH ) also joined the broader decline after hitting a new all-time high on ￰2￱ 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 ￰3￱ 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 ￰4￱ ETFs also reversed course, posting $238 million in net outflows and snapping a 14-week streak of ￰5￱ ETF flows.) August 25, 2025 According to Martinez’s August 25 outlook, Bitcoin has bounced off this region multiple times over the past month, establishing $112,000 as a strong demand zone. However, a breakdown below this level could expose the cryptocurrency to further downside.

Overall, some analysts point to profit-taking, macroeconomic uncertainty, and failed breakout attempts by both Bitcoin and Ethereum as key drivers behind the current ￰6￱ image via Shutterstock