EL7.AI
CryptoMedium•22 August 2026•
1 min read

Crypto Flash Crash Wipes $108B in Minutes as Liquidations Hit $1.7B

Key Facts

1The crypto market suffered its biggest flash crash since October 2025, wiping out $108 billion in just six minutes.
2Over $1.71 billion in crypto positions were liquidated within 24 hours, hitting Bitcoin and Ethereum the hardest.
3Total crypto market capitalization fell from $2.68 trillion to $2.55 trillion as selling pressure intensified.

In a move reflecting the fragility of highly leveraged positions, the cryptocurrency market suffered its biggest flash crash since October 2025, wiping out $108 billion in market value in just six minutes. According to reports, intensified selling pressure triggered the liquidation of over $1.71 billion in trading positions within 24 hours, with the majority of the damage hitting long positions, which saw $574 million erased in a single four-hour window.

The crash impacted major assets significantly; Ethereum recorded $293.34 million in liquidations as its price dropped toward $2,426, while Bitcoin fell to approximately $76,500. Per market data, the total crypto market capitalization declined from $2.68 trillion to $2.55 trillion, while altcoins (TOTAL3) lost 6.7% of their value in minutes, marking a broad sell-off that affected 281,846 traders.

Despite the severity of the decline, reports suggest Bitcoin's overall uptrend remains intact as long as it holds above the key support level of $70,500, with $78,800 acting as the primary resistance.