Key Notes
- Analysts advised traders to avoid opening BTC long positions at resistance of $112,000, while expecting a deeper pullback ahead.
- Altcoins faced heavy losses, with Ethereum plunging 5.6% to $4,300 after losing its 20-day EMA.
- XRP and DOGE also dropped significantly amid strong selling pressure and whale offloading.
Today’s crypto market crash comes with Bitcoin BTC $108 657 24h volatility: 3.9% Market cap: $2.16 T Vol. 24h: $48.14 B losing 2.9% to $110,000, sending shockwaves across all the crypto assets.
Altcoins have faced even greater selling pressure with Ethereum ETH $4 341 24h volatility: 4.0% Market cap: $523.57 B Vol. 24h: $37.95 B , XRP XRP $2.84 24h volatility: 5.3% Market cap: $168.59 B Vol. 24h: $7.59 B , Dogecoin DOGE $0.21 24h volatility: 4.1% Market cap: $32.18 B Vol. 24h: $2.28 B , and Cardano ADA $0.83 24h volatility: 4.4% Market cap: $30.09 B Vol. 24h: $1.91 B , losing the most among top digital assets.
As a result, the broader crypto market liquidations have soared to $411 million.
Crypto Market Crash Pushes BTC Down to $110,000
The recent crypto market crash has impacted Bitcoin and altcoins, driven by heavy profit-taking. According to CoinGlass, total crypto liquidations have reached $414 million, with $352 million coming from long positions.
With Bitcoin price losing the crucial support at $112,000, market analysts are eyeing even further correction to $105,000.
Crypto analyst Kaz The Shadow has urged Bitcoin traders to avoid opening long positions at current resistance levels.
$BTC Please STOP longing at resistance…
Wait for either a clear flip of the $112k’ish level or for lower, something like $105k would give a good bounce.
Be patient and stop giving back to the market all your profits 🙏🏻 https://t.co/ODzt1fUxyu pic.twitter.com/4s0Bvyc9qP
— Kaz The Shadow (@KazTheShadow) August 29, 2025
The analyst emphasized waiting for a decisive breakout above the $112,000 mark or a potential dip to around $105,000 for a favorable bounce.”Be patient and avoid giving back your profits to the market,” the analyst advised.
On the other hand, analyst Michael Van de Poppe predicts further drop all the way to $100K. Crypto analyst Michael van de Poppe noted that Bitcoin failed to hold the $112,000 level and is continuing its downward trend.
He suggested that further declines could bring Ethereum back to a neutral zone, creating what he described as a “massive opportunity” for the broader crypto market.
#Bitcoin couldn't hold $112K and we continue to fall.
I think we'll be seeing some lower numbers, which will reset $ETH back to neutral and would provide a massive opportunity for the markets. pic.twitter.com/iaabrm9J4D
— Michaël van de Poppe (@CryptoMichNL) August 29, 2025
ETH, DOGE, XRP Lose the Most Among Altcoins
After briefly climbing to $4,700, Ethereum has fallen 5.58% today, dropping to around $4,300.
Analyst Michael van de Poppe predicts a further drop to $3,700 levels, as the ETH price loses the 20-day EMA at $4,392.
“The markets are looking shaky, and if that happens, we’ll have some downwards momentum for a little while,” he added.
I think that we'll see a drop beneath the 20-EMA on the daily for $ETH .
The markets are looking shaky, and if that happens, we'll have some downwards momentum for a little while.
This will be the ideal setup for Q4, the #Altcoin run. pic.twitter.com/JBQQul7mun
— Michaël van de Poppe (@CryptoMichNL) August 29, 2025
Ripple’s native cryptocurrency XRP has also dropped 5.7% as of press time, after facing a storing rejection at $3.0.
At the time of writing, XRP price is trading at $2.87, and analysts predict a further retracement to $2.83. Massive XRP whale offloading could lead to more selling pressure.
$XRP continues to retrace toward $2.83 as anticipated! https://t.co/kzn0z7oh4X pic.twitter.com/WCChD1ildN
— Ali (@ali_charts) August 29, 2025
Similarly, DOGE found support at $0.212 earlier today but dropped another 4%. If bulls fail to regain control, Dogecoin could fall as much as 45% to $0.12.
