The uncertainty of the crypto market became apparent this July, as the trends shifted from a bullish uptrend to a crash within hours. In the last 24 hours, massive liquidation has taken place, especially in digital assets like BTC, SOL, DOGE, and more. Notably, the same cryptos were flourishing with gains days ago, but are crashing today, wiping out millions from the market.
Crypto Crash Fuels $600M Liquidation
The crypto market heatmap is painted in red today, confirming the massive crash in BTC and the rest of the altcoins. Notably, the Bitcoin price dipped below the $116k mark for the first time since hitting the ATH of $123k just days ago, resulting in $600M liquidation (even higher in a longer frame).
Notably, out of this, $146M liquidation came out of BTC, followed by Ethereum with $143M liquidation, $45M in SOL, $22.19M in DOGE, and more. Overall, the market cap has declined 1.15% and the 161,943 traders faced the consequences.
- Source: Coinglass, Crypto Market Liquidation
Why did BTC, SOL, DOGE, and Other Crypto Prices Crash Today?
Bitcoin is currently trading at $115.1k after a 2% crash in the last 24 hours due to the massive sell-off from Galaxy Digital. Spotonchain, an on-chain analytics platform, notes that 11,910 BTC (equivalent to $1.39B) was sent to multiple exchanges. More importantly, these tokens originated from the Satoshi era whale, which offloaded 80k Bitcoin just recently.
🚨 Is a BIG #BITCOIN SELL-OFF taking place?
Over the past 9 hours, #GalaxyDigital deposited 11,910 $BTC ($1.39B) to multiple exchanges.
These BTCs likely originated from the Bitcoin OG that offloaded 80,202 $BTC ($9.54B) at an average of $118,950 between July 15–18.
Notably,… https://t.co/8wySKm7Eai pic.twitter.com/Qy8t4xqTiI
— Spot On Chain (@spotonchain) July 25, 2025
DOGE and SOL also followed the sell-off sentiments of the crypto traders. Solana is trading at $177.8 after a 1.4% crash today, whereas DOGE is attempting a recovery after crashing to $0.022 and missing the $0.23 resistance.
- Source: CoinMarketCap, Cryptocurrency Price Crash
This massive sell-off alone influenced the traders’ trading sentiments, resulting in the crypto crash. Additionally, other factors like $14.59B Bitcoin and Ethereum options expiry, set to take place on July 26, are adding additional volatility.
Trump’s trade war and rising geopolitical tension in Asia, with the Thailand-Cambodia war, are also affecting the financial market today. Interestingly, crypto analysts like Ash Crypto have called it pure leverage flush, while others like CZ have said ‘buy the dip.’
Some even blame the Inverse Cramer Index, since Jim Cramer recently endorsed Bitcoin buying.
Oh no, the Bitcoin sell off is worse than we thought! JIM WHAT HAVE YOU DONE YOU HORRIBLE MAN! 😭💀 pic.twitter.com/0ZLGDJJ8Bp
— Autism Capital 🧩 (@AutismCapital) July 25, 2025
Crypto Investors Remain Bullish, What’s Next?
Although the crypto market has witnessed a significant crash today, investors are handling it well. CoinMarketCap’s fear and greed index reveals that the sentiments remain strong in the greed zone, with a current score of 66. Besides, the momentum indicator and wave count signals that the bullish patterns are still intact.
Many altcoins like Ethereum, XRP, and others have already made a complete recovery, and the market’s trading volume is rising, signaling ‘buy the dip’ activities. Bitfinex has predicted that the recovery of the bullish trend would push BTC to $136k.
Others add to the different cryptos’ surge, including ETH potentially seeing $4k and more.
Frequently Asked Questions (FAQs)
Bitcoin liquidation accounted for $146M, whereas Ethereum accounted for $143M.
Many cryptos are defying the downtrend today, including ETH, XRP, Ethena, and more.
Despite the sharp decline, investors’ sentiments remain bullish, as experts forecast a recovery and further uptrend.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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