#cryptotradingpro

Crypto Market Dips: Bitcoin Slides Toward $112K, Ethereum Loses $200M+

Bitcoin ($BTC ) and Ethereum ($ETH) kicked off the week with sharp declines, dropping 3% and 4% respectively, as the broader crypto market shed value. Bitcoin fell from $118K to ~$115K, while Ethereum hit $4,270, per CryptoSlate data. Top 10 cryptos like XRP, BNB, Solana, and Dogecoin also saw ~4% losses.

Matrixport analysts noted Bitcoin’s unexpected break below a key support line, warning of a potential slide to $112K ahead of the Fed’s September rate decision. They suggest traders either buy on a breakout above $117K or wait for a dip near $112K. The upcoming Jackson Hole Symposium is unlikely to move markets, with focus shifting to the Sept. 17 FOMC meeting.

The dip triggered $534M in liquidations, hitting 127K traders. Long positions lost $447M, with Ethereum traders facing $212M in losses—nearly double Bitcoin’s $111M. Solana, XRP, and Dogecoin traders also took hits of $31M, $18M, and $17M, respectively.