Market Sell-off: The crypto market saw a significant pullback today. Bitcoin dropped from $115,328 on August 1 to about $113,231 this morning. Altcoins also mostly trended down.
•Large Liquidations: The recent volatility triggered nearly $947 million in crypto liquidations in the last 24 hours, as traders hurried to cover positions.
•XRP Falls More Than 15% Weekly: XRP slipped sharply, falling as low as $2.89 before stabilizing just above $3. The broader crypto market downturn fueled this slide.
•Ethereum, Pepe, and Etherna Sold Off: Former BitMEX CEO Arthur Hayes joined the market sell-off, dumping $13 million in assets including ETH, ENA, and PEPE, adding pressure on those coins.
•Market Drivers: President Donald Trump’s new “reciprocal” tariffs on dozens of countries, announced yesterday, contributed to the risk-off mood and drove further market declines and liquidations. Crypto-linked stocks also suffered steep losses.
.•Altcoins Mixed: Despite the drop, some altcoins managed to hold or even post gains�.•ETF Flows: July saw strong inflows to Ethereum ETFs ($5 billion), but the last trading session brought some Bitcoin ETF outflows and ended with $114 million withdrawn.
