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Bitcoin tumbled to a seven-week low below $109,000, wiping out gains made after the Federal Reserve chair’s Jackson Hole speech. The sharp decline triggered over $900 million in liquidations, predominantly affecting long positions. Analysts point to a major sell-off by a large holder as the catalyst for the intensified selling pressure.
- Bitcoin fell below $109,000, marking its lowest price point since July 9 and erasing post-Jackson Hole gains
- Over 200,000 traders faced liquidations totaling $900+ million, with long positions bearing the brunt
- A large holder's sale of 24,000 BTC intensified selling pressure and triggered widespread liquidations
📎 Related coverage from: cointelegraph.com