Cryptocurrency markets tumbled on Thursday, with Bitcoin, Ether, and Solana leading the declines, while crypto-related equities also came under pressure.
Major Crypto Declines
Bitcoin (BTC) fell below $109,000, trading around $109,330, its weakest level in nearly a month. Ether (ETH) dropped 8% over 24 hours to roughly $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, plunged below $200, down 8% in the session. The broader CoinDesk 20 Index fell 6%.
The sell-off triggered a widespread 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 Impacted
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, even as BTC remains up 16% over the same period. Ether treasury firms Bitmine (BMNR) and Sharplink Gaming (SBET) lost 7%-8%, while bitcoin miners MARA Holdings (MARA) and Riot Platforms (RIOT) fell similarly.
Technical Outlook
Thursday’s decline brings BTC close to the late August–early September support zone just above $107,000. According to Hyblock Capital analysis cited by CoinDesk, a liquidity cluster around this level could absorb selling pressure and support a potential short-term bounce.
