The crypto market has evaporated nearly 4% in 24 hours, with close to $1 billion in positions being liquidated, and Whale buy the dip signals are emerging.

In the past 24 hours, the total market capitalization of the crypto assets market fell by 3.83%, evaporating to $3.86 trillion, triggering nearly $1 billion in liquidations, mostly from long positions. Bitcoin dropped below the $110,000 mark, and Ethereum fell by 7.29%, causing panic in the market. However, whales and institutional funds continue to buy the dip, with on-chain data showing a continuous influx of large buy orders, highlighting that long-term confidence in the market has not been significantly shaken.

The market fall triggered panic selling, and the total market capitalization dropped to $3.86 trillion BeInCrypto data shows that the global market capitalization of Crypto Assets has dropped to $3.86 trillion, with all top ten assets experiencing declines. Solana (SOL) had the largest drop, plummeting 10.75% in the past 24 hours. Bitcoin (BTC) fell by 3.11%, currently at $109,801, breaking below the key support level of $110,000; Ethereum (ETH) saw an even more significant decline, down 7.29% to $4,393, which is an 11.1% drop from the all-time high set this Sunday.

Liquidation wave sweeps the market, with Ethereum leading in liquidation amount Coinglass data shows that a total of 207,102 traders were liquidated in the past 24 hours, totaling $942.72 million, of which $832 million came from long positions. On a major CEX platform, a single liquidation amount for the BTC-USDT trading pair reached $39.24 million, setting the highest liquidation record of the day. The total liquidation amount for ETH was $322.85 million, followed closely by BTC at $264.73 million. One of the main reasons for the intensification of this market situation is a large sell-off of BTC by a whale, leading to a market flash crash.

Peter Schiff bearish on Bitcoin, predicts it may fall to $75,000 Long-term Bitcoin critic and economist Peter Schiff tweeted that the fall of Bitcoin below $109,000 is concerning. He pointed out: "Bitcoin has fallen 13% from its peak two weeks ago, despite high market enthusiasm and continuous institutional buying, this weak trend cannot be ignored, and may at least drop to around $75,000." However, from the on-chain data, the overall market sentiment has not completely turned bearish due to his pessimistic predictions, and the enthusiasm for buying the dip continues to heat up.

Whale funds are buying the dip, large on-chain purchases are frequently observed On-chain analysis company Lookonchain shows that a crypto whale address (bc1qgf) purchased 455 BTC during the fall, with a total value of approximately $50.75 million. From July 18 of this year to now, this address has accumulated 2,419 BTC, with an average purchase price of $116,104, currently facing an unrealized loss of over $16 million, but is still actively increasing positions. Another OTC big player (0xd8d0) invested $99.03 million USDC, purchasing 10,000 ETH (approximately $43.67 million) and 500 BTC (approximately $54.99 million).

BitMine continues to increase holdings, Ether Whale is on the move As the largest institution holding ETH publicly in the world, BitMine Immersion added 4,871 ETH last week, bringing its total holdings to 1,718,770 ETH, valued at approximately $7.65 billion at current prices. In addition, a sleeping Whale address (0x4097) suddenly became active, withdrawing 6,334 ETH from Kraken exchange, worth about $28.08 million. This series of actions highlights the market's long-term positive outlook on ETH and BTC.

Market confidence is diverging, short-term fluctuations may nurture long-term opportunities Despite the short-term volatility in the market, the continued buying power of Whales and institutions indicates that large funds still view the current adjustment as a good opportunity to position rather than a long-term risk. For crypto users, the on-chain capital flows of mainstream assets such as Bitcoin, Ethereum, and Solana will become an important barometer of future market trends.

Conclusion Although this round of market correction triggered nearly $1 billion in liquidations, whales and institutional investors continue to increase their positions, indicating that the market's medium to long-term confidence remains strong. With the intertwining of changes in the macro environment and on-chain capital flows, the crypto market may welcome a new trend after a short-term fluctuation.