[LIVE] BTC Crypto Update: Bitcoin Drops $1.18B as Liquidations Reach $731M – Meanwhile, Altcoins Such as SYRUP and Graphite Surge

Bitcoin encountered significant selling pressure following the report that Galaxy Digital allegedly sold 10,000 Bitcoin valued at $1.18 billion. They compounded the pressure by transferring an additional 2,850 BTC ($330 million) to exchanges just minutes prior to the market’s downturn.

In the past 24 hours, over $731 million in cryptocurrency positions were liquidated, as stated by CoinGlass. Almost 214,000 traders were impacted by the shift, with many having speculated on price increases.

Ethereum dipped 1.3% to $3,598, resulting in $104 million in long positions being eliminated. Dogecoin suffered an even steeper decline, dropping 7% to $0.22, leading to a $26 million rekt in longs.

Nonetheless, the cryptocurrency sentiment remains optimistic. BTC recently achieved a record high of $123,100 on July 14. The Crypto Fear & Greed Index continues to indicate “Greed” with a score of 66.

(BTCUSDT)

BTC is experiencing a pullback after rejecting near $122,000 and is currently maintaining a position just above the $115,600 base level level. A breach of this level could see the next crucial base level around $108,300. The overarching trend remains positive above that area, although short-term momentum appears to be weakening. A bounce from the current levels could retest $119K–$120K, whereas deeper corrections might aim for $108K if selling pressures heighten.

For the moment, traders are exercising caution. Should Bitcoin retreat to $119,500, approximately $3 billion in short positions may be at stake.

EXPLORE: The 12+ Hottest Crypto Presales to Buy Right Now

BTC Latest Developments – Bitcoin Price Declines But Certain Altcoins Demonstrate Resilience

While large-cap assets declined following update of substantial sell-offs, some altcoins made impressive gains. SYRUP by Maple Finance surged 24.5% after being listed on Upbit, one of South Korea’s foremost exchanges, and is now up 33% on the day.

JUST IN: $SYRUP by @maplefinance is up 24.5% after being listed on Upbit. pic.twitter.com/oBnZ5m8kGn

— CoinGecko (@coingecko) July 25, 2025

Meanwhile, Graphite (GP) has increased over 40% in the past 24 hours and nearly 4500% over the last month, indicating that not all digital currency assets are mirroring Bitcoin’s movement. Graphite Network is a creator-centric network initiated on Solana, aiming to facilitate project launches across multiple blockchains such as Ethereum and Polygon. It provides no-code tools, minting infrastructure, and on-chain utilities like casino games.

Overall, the remainder of the alternative coin market is rebounding from the overnight decline, with BONK already up 8% and Ethereum regaining 3%.

26 minutes ago

BonkFun, BONK’s Launchpad, Achieves New All-Time High in Market Share

By Fatima

BonkFun has reached an unprecedented 82.8% crypto market share of the launchpad space, marking its highest performance since launching three months ago. Over the last 19 days, it has generated $26.73 million in fees, averaging $1.41 million per day.

 

A total of 58% of BonkFun fees are allocated directly to purchasing BONK:

• 50% is utilized to buy and burn BONK
• 4% contributes to the Strategic BONK Reserves
• 4% finances the BonkRewards initiative

Yesterday, BonkFun accrued $1.98 million in fees, again outperforming Solana, Ethereum, and Fantom in daily revenue.

(DUNE)

 

Many perceive BONK as the next major hype trade, with comparisons being drawn to the initial stages of HYPE. Supporters are uptrend that Bonk is on a trajectory toward a $10 billion+ market cap.

The post [LIVE] Bitcoin Crypto News: Bitcoin Dumps $1.18B as Liquidations Hit $731M – But Altcoins Like SYRUP and Graphite Soar appeared first on 99Bitcoins.