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The cryptocurrency market turned sharply lower on Friday, with over $635 million in liquidations hitting Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) hardest, as traders dumped long positions amid shifting macro sentiment.

Bitcoin recently experienced its third major profit-taking event in the current bull market. At the end of July, realized profits surged to between $6 billion and $8 billion, reaching levels comparable to the peaks in March and December 2024. The primary sellers in this phase, with Bitcoin prices above $120,000, were newly entered whales.

Bitcoin has dropped below 118,000 USDT and is now trading at 117,968.273438 USDT, with a narrowed 0.38% decrease in 24 hours.

Bitcoin (BTC) dropped below 118,000 USDT and is now trading at 117,947.96875 USDT, with a 0.40% decrease in 24 hours.

Spot Ether ETFs recorded $453 million in inflows on Friday, led by BlackRock’s ETHA, pushing total assets to $20.66B and extending their inflow streak to 16 days.

Cardano (ADA) has shown signs of rebounding from a strong support level, increasing the likelihood of surpassing the $0.94 resistance. Recent market behavior has seen strong rallies followed by sharp declines, a pattern observed across several altcoins, including ADA. Typically, such pullbacks serve to eliminate weaker positions before the market resumes its upward trend.

Ethereum has dropped below 3,700 USDT and is now trading at 3,699.689941 USDT, with a narrowed 3.12% decrease in 24 hours.

Ethereum has crossed the 3,800 USDT benchmark and is now trading at 3,806.649902 USDT, with a narrowed 6.79% increase in 24 hours.

Bitcoin has dropped below 118,000 USDT and is now trading at 117,996.476563 USDT, with a narrowed narrowed 0.29% increase in 24 hours.

Bitcoin has crossed the 118,000 USDT benchmark and is now trading at 118,054.78125 USDT, with a narrowed 0.43% increase in 24 hours.

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Bitcoin has crossed the 109,000 USDT benchmark and is now trading at 109,027.28125 USDT, with a narrowed 0.81% increase in 24 hours.

Bitcoin has crossed the 108,000 USDT benchmark and is now trading at 108,019.992188 USDT, with a narrowed 0.41% increase in 24 hours. #GatePostAmbassadorTask# #Welcome Dr.Han To Gate Square#

Bitcoin and U.S. Stock Market Expected to Reach New Highs in Second Half of 2025 #GatePostAmbassadorTask# #Welcome Dr.Han To Gate Square#

Bitcoin is currently 2.5% below its all-time high of $111,970, with $110K acting as key resistance. #Btc#

Ethereum has dropped below 2,600 USDT and is now trading at 2,598 USDT, with a narrowed narrowed 5.49% increase in 24 hours. #Eth#

on the Ethereum network has reached a new peak of $135.4 billion. This milestone marks a significant development in the cryptocurrency market, highlighting the growing reliance on stablecoins within the Ethereum ecosystem. #ETH#