Overview

• Bitcoin broke key support near $115,000 and slipped under $112,000, with intraday lows reported around $111,760–$111,998.
• Ether led losses with a drop of up to 9% to about $4,075, and roughly $400–$500 million in ETH long positions were liquidated, according to Coinglass.
• More than $1.5 billion in leveraged positions were wiped out in 24 hours, with estimates reaching $1.7 billion and over 400,000 traders liquidated, mostly on the long side.
• Total crypto market value fell below $4 trillion to roughly $3.8–$3.9 trillion as large-cap altcoins including Solana, XRP and Dogecoin slid 6% to more than 10%.
• Context includes a recent Fed rate cut that failed to sustain risk appetite, while analysts split on whether this is a leverage reset or the start of a deeper correction with $112k–$110k levels in focus.