Bitcoin suddenly fell below $112,000! 110,000 people got liquidated overnight, with 370 million in funds evaporated.

On the evening of August 2, the cryptocurrency market suddenly plummeted, with Bitcoin briefly falling below the $112,000 mark. As of the time of writing, it is reported at $112,500, down over 3% from the intraday high.

This wave of rapid fall has directly triggered a chain reaction: According to Coinglass data, over 110,000 investors have been liquidated in the past 24 hours, with a total amount reaching 369 million USD. Among them, long positions suffered the most, with a liquidation amount of 310 million USD, while short positions incurred losses of 58.16 million USD.

Other coins are falling sharply: Ethereum and BNB have dropped over 3%, while Dogecoin is even worse, with a cumulative drop of 19% over 7 days, becoming the "diving pioneer."

Behind the market panic, the Federal Reserve's policy expectations become key.
The unexpected weak non-farm data in the US for July indicates a clear deterioration in the labor market, leading traders to bet on a surge in the probability of a Federal Reserve rate cut in September. Ironically, the rising expectations for easing have not boosted risk assets; instead, concerns about an economic recession have intensified, causing funds to flow into safe-haven assets, resulting in a sell-off of cryptocurrencies.

Trump Group counter-cyclical bottom fishing 2 billion Bitcoin
While the market is in a state of wailing, Trump Media Technology Group unleashed a "big move": the second quarter financial report shows that it has hoarded 2 billion dollars worth of Bitcoin and related securities, with financial assets skyrocketing to 3.1 billion dollars, a year-on-year increase of 800%, making it one of the publicly traded companies with the most coins in the world.

Bitcoin's "voice" is further enhanced.
Despite the short-term volatility, Bitcoin's market dominance is increasing: the average dominance rate will reach 59.3% in 2025, rising for three consecutive years. The main reason is the entry of institutions—products like spot ETFs attract more capital, pushing it towards becoming a "mature asset."

What to do next?
Analysts point out key levels: $115,000 is the current support line, and if it falls below $114,000, it may test the range of $111,000-$112,500. It's worth noting that long-term holders still hold 53% of Bitcoin, and if there is a large-scale sell-off, new funds will be needed to stabilize the situation.

For long-term investors, institutions remain optimistic: reports indicate that if Bitcoin can capture a small share of gold or global liquidity, the price could rise by double digits again. However, at the moment, this "bull-bear battle" has not yet reached its conclusion.
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