Bitcoin prices experienced a sharp pullback on August 14th, falling below $120,000 in less than a day since reaching a new all-time high of over $124,000.
According to Encryption Data, BTC fell to $118,479 at press, down 2.07% for one hour candle and 5% from its 24-hour peak.
The sudden dip rippled across the wider crypto market. Ethereum fell 4% to $4,581, while XRP fell more than 3% to $3.11. Other top 10 coins, including Dogecoin, Solana and BNB, also saw losses of over 3% over the same time frame.
This revision follows a period of sustained bullish momentum that has pushed the broader market to its best record. The speed of the decline may have surprised some traders, but market analysts flagged potential risks.
On August 13, Blockchain Analytics Firm GlassNode highlighted the surge in open interest across major Altcoins to a record high of $47 billion.
According to the company, such high leverage could expand upward gatherings and downward revisions, exposing traders during sudden market fluctuations.
Longer traders lose over $500 million in an hour
Coinglass data reveals that the sharp price movement caused a $577 million liquidation within just an hour.
Long traders who were hoping to see prices rise further, earned most of their losses, totaling $545 million. The short position lost $31 million.
Ethereum traders suffered the most, with liquidation exceeding $177 million. Bitcoin traders lost about $113 million, but XRP and Solana positions were liquidated at $44 million and $39 million, respectively.
If the liquidation window expands over the last 24 hours, the total loss will reach $1.05 billion. The long position accounts for that figure of $778 million, highlighting the high risks during the period of rapid price adjustments.
These numbers highlight the extreme volatility inherent in the crypto market. A sudden revision can erase a significant unrealized profit, especially if leveraged positions control trading activity.
For traders, this reminds us that strong uptrends often involve similarly sharp pullbacks, highlighting the importance of risk management strategies in volatile markets.
Bitcoin Market Data
When reporting 2:54pm, UTC on August 14th, 2025Bitcoin ranks number one in terms of market capitalization, and the price is under 2.23% Over the past 24 hours. Bitcoin has a market capitalization $2.36 trillion 24-hour trading volume $106.74 billion. Learn more about Bitcoin›
Overview of the Crypto Market
When reporting 2:54pm, UTC on August 14th, 2025Crypto market totals are evaluated by 4.03 trillion dollars There is a 24-hour volume $286.8 billion. Bitcoin's advantage is currently underway 58.67%. Crypto Market Details›
