Cryptocurrency values fell sharply, dragging the total market cap below $4 trillion, with Bitcoin dropping to approximately $115,000 and Ether to below $4,300. This decline followed recent all-time highs for both cryptocurrencies, reached on August 14. Institutional investments in digital-asset treasuries had supported their prices, but ongoing profit-taking appears to have stalled this upward momentum. Significant investments surged from treasury companies, including Michael Saylor's Strategy, which purchased $51.4 billion worth of Bitcoin between August 11 and August 17, despite market declines affecting overall sentiment.
Major cryptocurrencies experienced a retreat, with Bitcoin dropping to $115,000 and Ether falling below $4,300, resulting in a total market value of $3.9 trillion.
The cryptocurrency market saw significant decline after reaching record highs, notably Bitcoin's $125,514 and Ether's near all-time high of $4,300 on August 14.
Institutional investments led by digital-asset treasury companies had previously buoyed Bitcoin and Ether, but the momentum is reportedly losing steam with profit-taking observed.
Michael Saylor’s Strategy emphasized Bitcoin accumulation, purchasing over $51.4 billion of Bitcoin recently, reflecting a keen interest from treasury companies despite market pullbacks.
Collection
[
|
...
]