---
title: "Bitcoin Price Plummets Toward $113K as Total Liquidations Approach $1 Billion"
url: https://diffcoin.com/bitcoin-price-plummets-toward-113k-as-total-liquidations-approach-1-billion/
description: "Bitcoin continues to freefall, pushing liquidations closer to $1 billion."
published: 2025-08-01
updated: 2025-08-01
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Price Plummets Toward $113K as Total Liquidations Approach $1 Billion

The cryptocurrency markets continue bleeding out today. Bitcoin’s price dropped to a low of slightly above $113,000 while the majority of altcoins are having it much worse, as it’s almost always the case.

As seen in the chart below, the price has been in a freefall since wicking to $118,000 on July 31st and has shed more than $5,000 since.

![BTCUSD_2025-08-01_22-50-36](data:image/svg+xml;base64,PHN2ZyB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciIHZpZXdCb3g9IjAgMCAzMjUwIDE1ODYiIHdpZHRoPSIzMjUwIiBoZWlnaHQ9IjE1ODYiIGRhdGEtdT0iaHR0cHMlM0ElMkYlMkZjcnlwdG9wb3RhdG8uY29tJTJGd3AtY29udGVudCUyRnVwbG9hZHMlMkYyMDI1JTJGMDglMkZCVENVU0RfMjAyNS0wOC0wMV8yMi01MC0zNi5wbmciIGRhdGEtdz0iMzI1MCIgZGF0YS1oPSIxNTg2IiBkYXRhLWJpcD0iIj48L3N2Zz4=)

Source: TradingView

Data from Coinglass shows that the total liquidations for the past 24 hours have surpassed $900 million, up more than 300% since yesterday, highlighting the severity of the move.

Naturally, long traders took the bigger hit, accounting for more or less $800 million of the total. Interestingly, ETH is leading the pack in liquidations with around $300 million, at the time of this writing.

As *CryptoPotato* reported earlier, the downturn comes amid severe turbulence in international geopolitics and macroeconomics as Donald Trump continues with his tariffs policy. He imposed an additional 10% tariffs on Canadian goods and slammed 10% on goods imported from every country, aside from the countries that are subjected to higher tariffs.

The drop is not isolated to crypto markets. The S&P 500 is down 1.5% today, the NASDAQ Composite lost 2.16%, while the Dow Jones Industrial Average also lost 1.2%.

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