The crypto market is actually doing well today. Bitcoin is closer to its all-time high than $100k, while Ethereum is hovering above $4.5K. And some are asking, “Why did crypto crash today?”
Although, there was some turbulence like hotter-than-expected US PPI data at 3.3% year-over-year which brought fears of delayed Fed’s rate cuts, the total crypto market cap is still at above $4 trillion.
Bitcoin has fallen by more than 3% to around $119K, while over $860 million in long positions were liquidated in 24 hours. Yet, some altcoins showed resilience, showing that the bull run is far from over.
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Why Did Crypto Crash Today? Nope, Crypto Is Having A Healthy Correction
Meme tokens dropped by 8%, a big correction, but capital rotated into resilient alternatives as Bitcoin dominance is still under 60%. XRP dropped by 6% to $3.1, a healthy pullback after it ran to its $3.66 ATH. Besides, its trading volume also jumped by more than 200% earlier, showing that interest in Ripple remains.
XLM, on the other hand, went to $0.45, down 5% this past 7 days week after a 16% gain last week. Both XLM and XRP are experiencing healthy corrections.
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However, not every coin is experiencing a dip; Ethereum pumped by 2.5% this week to $4,600, boosted by $5.5 billion in July ETF inflows. Adding to the buy pressure, there was a big institutional buys exceeding 2 million ETH since June. With some saying that Ethereum is the new Bitcoin.
Solana climbed almost 5% to $200, which happened while PUMP was sucking most of the SOL liquidity. ETF speculation, apart from it being a degen paradise, has it aiming for a new all-time high with a $300 target.
CRYPTO IS CRASHING!!
Its so obvious that the market manipulators are trying to liquidate as many people as possible before prices bounce and fly past their previous ATH.
they are trying to pack their bags as much as possible before ALTs start to fly like a bird with 3 wings.… pic.twitter.com/Xw9gNjQexD
— Erik Perez (@erikperez33) August 15, 2025
Cardano bumped by 10% this week to above one dollar mark, although its correcting as well. ADA has experienced a 110% nudge in derivatives volume, and is now targeting $1.15.
These all show an emerging altcoin season, where Ethereum’s institutional buying, Solana as a degen home, and Cardano momentum draw flows from Bitcoin.
The next CPI data will likely force a rebound; the dip is a short-term macro pressure.
So, why did crypto crash today? Well, today is an antic before a bigger leap.
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Read the full story here.
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