Bitcoin dipped below $115,000 and Ethereum under $4,200, driving significant liquidations and accompanying large outflows from U.S. spot crypto ETFs amid weak market sentiment.
The cryptocurrency market faced a downturn as Bitcoin fell below $115,000 and Ethereum under $4,200, resulting in over $400 million in liquidations within 24 hours. DeFi and Meme tokens dropped more than 2%, while the PayFi sector remained relatively stable. Despite the decline, OKB and POL recorded gains. On August 18, U.S. spot Ethereum ETFs saw $196.6 million in net outflows and Bitcoin spot ETFs lost $121.7 million, totaling $318.3 million in combined outflows, according to Farside Investors, reflecting weaker investor sentiment.