The cryptocurrency market experienced a downturn on August 19th, 2025, with several major coins losing significant value. The current downtrend is attributed to multiple factors, including cooling sentiment in Bitcoin futures ahead of Fed Chair Jerome Powell’s upcoming speech and regulatory actions by South Korea’s Financial Services Commission (FSC). Analysts suggest that the market is shifting from euphoria to range trading, leaving investors vulnerable to short-term selling pressure. In addition, concerns about the future of crypto lending have emerged after South Korea’s FSC ordered a halt on all lending services for local exchanges. The impact will be felt across the market as institutions remain heavily invested in Bitcoin ETFs with only a small portion allocated towards Ethereum ETFs. Meanwhile, a key development comes from Hyperliquid’s founder, Jeff who clarified his project’s approach to liquidity and refuted accusations of relying on market maker partnerships.