The Sudden Crypto Crash post-Bitcoin’s All-Time High
On August 14, the crypto market took a sharp downturn just hours after Bitcoin hit a new all-time peak.
This crash occurred due to robust Producer Price Index (PPI) data, sparking widespread panic. the market showcased significant liquidations,increasing by over 90% to $1 billion.
- Bitcoin dropped sharply to $117,000; major tokens followed suit with drops exceeding 10%.
- A staggering 216,000 traders faced liquidation.
The downturn linked to fading expectations of a September Fed interest rate cut. Data from Polymarket showed the cut probability sliding from 80% to 73%. Additionally, the CME FedWatch工具 reflected a drop from 99% to 90.6%.
Inflation pressures loomed as the PPI surged from 0% in June to 0.9% in July—higher than anticipated. This uptick, coupled with concerns about tariffs, unsettled investors.
CoinGlass data unveiled surging liquidations amid rising futures open interest and an escalating funding rate. The market’s bearish vibes were exacerbated by Bitcoin’s emerging double-top pattern.
With neckline positioned at $112,000,the double-top signaled a likely shift downward,dragging othre altcoins along. Analysts warn this could push BTC towards the 50-day moving average.
