#BTC #Ethereum $BTC Here’s what’s happening today, August 15, 2025, in the crypto markets:



Digital Asset Treasury Firms Slide Hard as Crypto Pulls Back


According to CoinDesk, digital asset treasury (DAT) firms—which hold substantial crypto on their balance sheets—were among the hardest hit:



  • MicroStrategy (MSTR) dropped ~3%, adding to a 20% decline since July’s high and a 33% slide from its November 2024 peak. Its ratio against BlackRock’s iShares Bitcoin Trust (IBIT) fell to 5.43, a level not seen since March.


  • Metaplanet (3350) fell 9%, while Nakamoto (NAKA) declined 12% following its merger with KindlyMD.


  • Bitmine Immersion Technologies (ETH-heavy) sank 7%, and SharpLink Gaming plunged 14%.


  • Solana-linked firms also suffered: Upexi (UPXI) dropped 9%, and DeFi Development (DFDV) fell about 5%.


Meanwhile, KULR Technology (KULR) bucked the trend, gaining over 5% after reporting a remarkable 63% YoY revenue growth in Q2—its best ever—attributed to its bitcoin-centric balance sheet strategy.



What’s Driving the Sell-Off?


This sharp pullback coincides with rapid sell pressure on major cryptos:



  • Bitcoin tumbled below $117,000, reversing sharply after touching an all-time high near $124,000 just two days ago.


  • Ethereum slid back to approximately $4,400, shortly after challenging a five-year high above $4,800.


These drops in core crypto prices hit treasury-based firms particularly hard, as their value is closely tied to crypto valuations.



Broader Market & Sentiment Snapshot



  • The decline was triggered by a combination of profit-taking and macroeconomic cautiousness. Institutional investors, along with leveraged positions, contributed to over $1 billion in leveraged liquidations, putting additional downward pressure on prices.


  • The cooling rally highlights crypto’s characteristic volatility—big gains can evaporate just as quickly when sentiment shifts.



Summary Table































FactorDetailDAT Firms PerformanceMSTR –3%; Metaplanet –9%; NAKA –12%; Bitmine –7%; SharpLink –14% etc.BitcoinDropped below $117K from ~$124K just two days priorEthereumRetreated to ~$4.4K after nearing a five-year high of $4.8KMarket SentimentVolatility spurred by macro uncertainty and leveraged liquidationsBright SpotKULR gained >5% due to strong Q2 results



Let me know if you'd like further context—such as details on specific treasury firms, technical analysis, or how this trend compares to past cycles.

$ETH