$BTC Today’s crypto market (29/8/2026) saw a strong reversal as the price of Bitcoin (BTC) suddenly plunged deep below the 78,000 USD mark, currently trading around 77,929 USD. This drop occurred right after an unexpected hawkish statement from the leadership of the U.S. Federal Reserve (Fed) at the Jackson Hole Conference, triggering a liquidation wave of more than 424 million USD in derivatives positions across the entire market over the past 24 hours.
Bitcoin (BTC) plunges sharply: Although it once touched near the 80,000 USD level thanks to record inflows into ETFs, BTC reversed downward by more than 3% right after the Fed Chair took a tougher stance on inflation, saying that core inflation has not truly improved in a sustainable way. The resistance zone of 80,000 - 83,300 USD remains a major psychological barrier.
Derivatives market turns red: Among the 424 million USD liquidated, Bitcoin led with 173 million USD, followed by Ethereum with nearly 99 million USD.
Altcoins tumble across the board: Red dominates the top 10. Ethereum (ETH) fell to 2,443 USD; Solana (SOL) dropped the most in the group, losing over 5% and trading around 104 USD; XRP lost its support level and dropped to 1.38 USD. Going against the market trend, only TRON (TRX) held a slight green with gains of over 1%.
$ETH $SOL
Bitcoin (BTC) plunges sharply: Although it once touched near the 80,000 USD level thanks to record inflows into ETFs, BTC reversed downward by more than 3% right after the Fed Chair took a tougher stance on inflation, saying that core inflation has not truly improved in a sustainable way. The resistance zone of 80,000 - 83,300 USD remains a major psychological barrier.
Derivatives market turns red: Among the 424 million USD liquidated, Bitcoin led with 173 million USD, followed by Ethereum with nearly 99 million USD.
Altcoins tumble across the board: Red dominates the top 10. Ethereum (ETH) fell to 2,443 USD; Solana (SOL) dropped the most in the group, losing over 5% and trading around 104 USD; XRP lost its support level and dropped to 1.38 USD. Going against the market trend, only TRON (TRX) held a slight green with gains of over 1%.
$ETH $SOL
