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30m ago

Bitcoin Tests $115,000 as ETF Outflows and Long Liquidations Shake Crypto

Traders now look to Jerome Powell’s Jackson Hole remarks for guidance on the Federal Reserve’s next move.

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Bitcoin drops 7% - But analysts still expect a rebound, not a crash
Bitcoin drops below $114k, ether loses $4.2k as jackson hole speech might bring hawkish surprise
The $1 billion crypto liquidations warning - 3 signs another flash crash is coming!

Overview

  • Bitcoin fell as low as about $113,700 and ether slipped below $4,200, retracing 5%–9% from last week’s records after a hotter U.S. PPI print cooled rate‑cut hopes.
  • Forced unwinds hit leveraged longs hard, with estimates ranging from roughly $270 million to more than $500 million in liquidations over 24 hours, led by ETH and BTC positions.
  • U.S. spot Ethereum ETFs logged $197 million in net outflows Monday, the second‑largest on record, while Bitcoin funds saw about $122 million in withdrawals, pressuring sentiment.
  • Derivatives pointed to de‑risking as BTC open interest fell and ETH saw new shorts, with options skewing defensive into Powell’s speech and key supports flagged near $115,000 for BTC and $4,400 for ETH.
  • Crypto‑linked equities slumped alongside tokens—examples include declines in KindlyMD, Bitmine Immersion, Sharplink Gaming and MicroStrategy—even as pockets of institutional buying persisted, such as a ¥500 million Bitcoin treasury plan by Japan’s LibWork.