$900M Liquidations Hit Bitcoin, Ethereum & Alts After Massive $BTC Whale Sell-Off

Just before the weekend, Bitcoin sat above $117K.

Then came a major whale sell-off amid several days of net $BTC ETF outflows, and the goodwill generated by Jerome Powell’s recent remarks in Jackson Hole vanished.

In a 24-hour period, crypto markets experienced a severe wave of liquidations exceeding $900M. Bitcoin plunged under $110K, Ethereum endured over $320M in liquidations, and altcoins like Dogecoin plunged sharply. 

In the wake of the flash crash, an opportunity arises to buy the dip. We look at the best crypto to buy now.

The Liquidation Tsunami

According to CoinGlass data, over $941M million in futures positions were forcibly liquidated in a single day, dominated by long positions. Those accounted for around $830M of the total losses. 

Per CoinGlass, over 200K traders were liquidated – a single liquidation order resulted in nearly $40M being wiped off the books.

The liquidations came as Bitcoin dropped sharply in a ‘flash crash,’ slipping below $110K. That erased nearly all the gains Bitcoin had made since early July. 

Bitcoin accounted for over $270M of the liquidations, but Ethereum was hit even harder, with approximately $320M liquidated. Dogecoin, alongside other altcoins, suffered sharp price drops as the bearish sentiment spread. 

Triggers: Whales, ETFs Combine for 1-2 Punch

Market watchers identified a massive 24K $BTC whale sell-off on Sunday, worth about $2.7B. That triggered the initial flash crash, adding a shock of selling pressure. That acute pressure built on something a bit more subtle – multiple days of ETF outflows.

The short shock of 29K $BTC hitting the market, alongside a steady drip of nearly a week’s worth of ETF outflows, combined to knock Bitcoin price back sharply. Since the ATH a couple of weeks ago, nearly 12% of Bitcoin’s value has been erased.

Just days before, markets had rallied on expectations of the Fed easing following Powell’s Jackson Hole speech – Bitcoin briefly hit $117K and Ethereum neared the psychologically important $5K-mark. Those gains collapsed days later. 

Market Prospects, Psychological Impact

The meltdown highlighted vulnerabilities in crowded long bets and underscored the impact that just one large holder can have on market stability. Analysts warn that if Bitcoin fails to hold the $105K support level, it could slip further. 

But there’s also the chance that the flash crash lives up to its name and proves to be short-lived. 

Research firm Santiment shares that view, adding that the retail-driven nature of the dip can be viewed as a positive sign. 

With the flash crash hitting blue-chip cryptos hard, what’s the best crypto to buy right now?

1. Bitcoin Hyper ($HYPER) – Hybrid Architecture Powers Fastest Bitcoin Layer 2

Take Bitcoin’s rock-solid reliability and massive liquidity. Add a Canonical Bridge via the Solana Virtual Machine to a brand-new Bitcoin Layer 2.

That’s Bitcoin Hyper ($HYPER), a project that leverages the strength of both the SVM and Bitcoin to produce a Layer 2 capable of processing thousands of transactions per second that will still reserve final settlement for Bitcoin’s Layer 1.

$BTC can be moved back and forth between Layer 1 and Bitcoin Hyper. While on Layer 2, Bitcoin can be deployed across the full range of the crypto ecosystem – DeFi, native staking, dApps, and more. 

$HYPER is the native token for the Hyper Layer 2, unlocking governance rights, staking rewards, and more. Investors in the ongoing presale can stake their $HYPER now for 91% APY.

Bitcoin Hyper just passed the $12.1M mark, and tokens currently cost $0.012805. 

Check out the $HYPER presale page for more information.

1. Best Wallet Token ($BEST) – Leading Web3 Wallet Takes Innovation Further with $BEST & Crypto Presale Access

Best Wallet Token ($BEST) supercharges the utility of a leading web3 wallet. 

Best Wallet is the next-gen non-custodial crypto wallet redefining how users store, swap, and stake crypto. With $BEST on the Best Wallet, investors receive:

• Reduced transaction fees
• Increased staking rewards
• Early presale access

Thanks to its upcoming tokens feature, Best Wallet gives you early access to a curated list of crypto presales. You can browse whitepapers and research projects directly from the app, and when it comes time to make a purchase, that’s also seamless.

The growing ecosystem around Best Wallet includes plans to add a Best Card, making it easier to spend your crypto.

The increasing usefulness of Best Wallet and the native $BEST token have spurred the presale to bring in over $15M so far, with tokens priced at $0.025535. 

Head over to the Best Wallet Token presale page for the latest information.

1. Solana ($SOL) – Flash Crash Negates Recent Gains, Solana Positioned to Surge?

Solana ($SOL) is more or less flat for the month, up 0.33%. It rose over 14% from the end of July to mid-August, and surged again in the past week, only to plummet back to earth as Bitcoin pulled back.

But recent moves demonstrate Solana’s potential, and it continues a strong 2025 in which it set an all-time high of $294.83.

Solana’s TVL sits above $10B, which has grown over the past year as DeFi experiences a general resurgence. And on the meme coin front, pump.fun and letsbonk.fun continue to produce tens of thousands of new tokens per day.

Solana has also made waves as a crypto treasury option, with Upexi and Sol Strategies applying Michael Saylor’s Bitcoin strategy to Solana. 

The upshot is that Solana looks well-positioned for a strong close to the year, with steady support on both the retail and institutional fronts.

What Comes Next?

Bitcoin’s ability to hold above $105K will be critical for confidence. And if it stays above $110K, it would take the edge off the recent flash crash.

Still, the old adage to ‘buy the dip’ could apply here, with reduced prices offering a strategic entry point for longer-term investors seeking value when confidence returns. In the meantime, don’t overlook $HYPER, $BEST, and $SOL.

Do your own research – this isn’t market advice.