The crypto market is under pressure again, slipping 2.43% over the past day with a total market cap now at $3.91 trillion. Bitcoin price dropped to $115,000 while Ethereum slid toward $4,300, wiping out over $100 billion in value across the market. Traders are on edge after weeks of steady gains, as momentum shows signs of fading.
Bitcoin price decline began when it lost support at $118K. Once that level failed, over $100 million worth of long positions were liquidated, pushing the price even lower.
GM
— Junaid Dar (@JunaidDar85) August 18, 2025
The market just flipped hard over $360M liquidated in 24hrs, with $270M gone in just 4hrs.$BTC dumped to $115K and $ETH slid under $4.3K.
Longs took the biggest hit : $89M on ETH, $80M on BTC.
Last week was $ETH around ATH hype… today it’s a reality check. pic.twitter.com/Sb8LN5znwB
The daily chart shows a breakdown from a rising wedge pattern, a bearish signal that often leads to deeper pullbacks.
Now, $112K stands as the next important support. If it holds, the market could stabilize. But if Bitcoin price slips further, a drop toward $105K is on the table. Traders are cautious, knowing the next moves will likely set the tone for the rest of August.
Besides, the crypto weakness is not just technical in nature. A hotter-than-expected U.S. inflation report reduced hopes of near-term Fed rate cuts.
Simultaneously, the dollar index has been rising, something that has a depressive effect on Bitcoin and other risk assets.
Institutional demand also cooled off this week. Bitcoin ETFs, which had seen net inflows until July, posted outflows. That reversal indicates that larger players don’t want to purchase at current levels, adding to the bearishness.
Ethereum and Altcoins Follow
Ethereum price mirrored Bitcoin’s move lower, falling nearly 4% to trade just above $4,300. Earlier this month ETH was pushing toward $4,800, but momentum has faded.
The $4,100 zone is now the key level to defend. If bulls can hold it, Ethereum may still attempt another push toward $5,000. A break below, however, risks sending the token toward the $3,600–$3,800 area.
Altcoins also suffered as the total crypto market cap slipped under $4 trillion. If $3.84 trillion support holds, sideways consolidation is possible. But a clean break lower could trigger sharper losses across smaller-cap tokens.
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What to Watch Next
The big question now is whether Bitcoin price can stabilize above $115K. Holding this level could give the market breathing room and restore some confidence. If not, the bearish setup remains in control, with $112K and $105K the next downside targets.
The coming days will likely be volatile. With leverage still elevated and macro conditions applying pressure, both Bitcoin and Ethereum face a critical test before the end of the month.
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