Crypto Market Suffers Major Losses on August 20th

On August 20, 2025, the cryptocurrency market experienced widespread losses as major cryptocurrencies like Bitcoin and Ethereum declined sharply. Data from CoinMarketCap shows that Bitcoin dropped 2.96% to reach $112,924.26, while Ethereum fell 4.88% to $4,120.88. This downturn was attributed to ongoing market volatility, with various altcoins also experiencing significant losses. XRP declined 5.94%, Dogecoin decreased 5.84%, and Solana dipped 3.32%. Other notable coins like Avalanche (AVAX) saw a decline of 5.59%.