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Aug 3, 2025
Overall Market Decline: The global crypto market capitalization dropped significantly, with some sources reporting a 3.82% decrease to $3.75 trillion.
Bitcoin (BTC) Performance: Bitcoin fell below the $115,200 mark, trading around $115,149, down approximately 3%. This level is considered crucial for maintaining the broader uptrend.
Ethereum (ETH) Performance: Ethereum also saw a notable drop of around 5.5% to $3,663, though it quickly rebounded above $3,700, supported by retail buying and continued inflows into spot ETFs.
Altcoin Losses: Major altcoins like XRP, Solana, Dogecoin, Cardano, and others registered losses ranging from 6% to nearly 10%.
Liquidations: Over $635 million in leveraged positions were flushed out, with almost 90% coming from long positions, indicating a swift reversal caught many traders.
Contributing Factors: The selloff was largely attributed to macroeconomic concerns, including the Fed's warning on slowing growth and new trade tariffs.
Long-Term Outlook: Despite the short-term volatility, some analysts remain cautiously optimistic, viewing the current dip as a "buy-the-dip" opportunity and expecting consolidation to lead to a fresh breakout in Q4, supported by continued institutional demand.