Cryptocurrency markets fell sharply on Thursday, with Bitcoin, Ether, and Solana leading the declines, while crypto-linked stocks also came under pressure.
Major Crypto Losses
Bitcoin (BTC) dipped below $109,000, trading near $109,330, its lowest level in nearly a month. Ether (ETH) plunged 8% over 24 hours to around $3,954, erasing gains since early August and down 22% from last month’s highs. Solana (SOL), which traded above $250 just two weeks ago, fell below $200, declining 8%. The CoinDesk 20 Index fell 6% amid the sell-off.
The downturn triggered a broad leverage purge, liquidating over $1.1 billion in positions, according to CoinGlass. ETH accounted for more than $400 million in long position liquidations, followed by $265 million in BTC.
Crypto Equities Decline
MicroStrategy (MSTR), the largest corporate holder of BTC, fell as much as 10% to a five-month low, wiping out all of this year’s gains and leaving it down 1.5% year-to-date, while BTC remains up 16% over the same period. Ether-focused firms Bitmine (BMNR) and Sharplink Gaming (SBET) lost 7%-8%, and bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) declined similarly.
Technical Outlook
Thursday’s sell-off brings BTC close to the late August–early September support zone just above $107,000. Hyblock Capital analysis cited by CoinDesk notes a liquidity cluster around this level that could absorb selling pressure and provide a potential short-term bounce.
