Crypto Market Plummets: $800M Liquidations and Altcoin Volatility

The cryptocurrency market experienced a significant downturn on August 26th, triggered by over $800 million in long positions being liquidated. This resulted in a 1.27% decline in the global crypto market cap to $3.81 trillion. Trading volume also decreased, falling to $213.74 billion after dropping 8.07%. The drop was further exacerbated by Bitcoin’s slide below $110,000, reaching a new low of $109,986 with $79.8 billion in turnover. This caused investor panic, leading to selling pressure and contributing to the overall market decline.