TradingKey – On Tuesday, August 19, Bitcoin (BTC) continued its downward slide, falling nearly 1% and briefly dipping below $115,000, marking a three-week low. Ethereum (ETH) also dropped more than 2%, trading near $4,200, its lowest level in a week.
The broader crypto market saw widespread losses, triggering mass liquidations and shaking investor confidence. According to CoinGlass data, over 107,000 traders were liquidated in the past 24 hours, with total losses exceeding $400 million—of which more than $300 million came from long positions. The Crypto Fear & Greed Index plunged from 68 to 53, moving closer to neutral territory.
Crypto Market Liquidation Data – Source: CoinGlass
After nearly a week of sustained correction, market sentiment remains fragile. However, Bitcoin is now approaching a key support level near $110,000, last tested on August 2. This zone has historically held firm and could serve as a launchpad for a short-term rebound.
That said, traders should remain cautious of a potential “fake breakdown” — a scenario where BTC briefly dips below $110,000 before quickly recovering. Such moves often trap short sellers and trigger volatility spikes.
Bitcoin Price Chart – Source: TradingView