[LIVE] Bitcoin Crypto News: BTC Dumps $1.18B as Liquidations Hit $731M – But Altcoins Like SYRUP and Graphite Soar

Bitcoin faced heavy selling pressure after the news that Galaxy Digital reportedly sold off 10,000 BTC worth $1.18 billion. They later added more pressure by sending another 2,850 BTC ($330 million) to exchanges just minutes before the market started to slide.

Over the last 24 hours, more than $731 million in crypto positions were liquidated, according to CoinGlass. Nearly 214,000 traders were caught in the move, many of them betting on further price increases.

Ethereum dropped 1.3% to $3,598 and saw $104 million in long positions wiped out. Dogecoin took an even bigger hit, falling 7% to $0.22 and losing $26 million in longs.

Despite the drop, crypto sentiment remains bullish. Bitcoin recently hit an all-time high of $123,100 on July 14. The Crypto Fear & Greed Index is still showing “Greed” with a score of 66.

(BTCUSDT)

Bitcoin is pulling back after rejecting near $122,000 and is now holding just above the $115,600 support level. If this level breaks, the next key support sits around $108,300. The overall trend remains bullish above that zone, but short-term momentum is weakening. A bounce from current levels could retest $119K–$120K, while a deeper correction might target $108K if selling accelerates.

But for now, traders are cautious. If BTC drops back to $119,500, around $3 billion in short positions could be at risk.

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

Bitcooin Latest News – BTC Price Drops But These Altcoins Are Showing Strength

While large caps dipped following the news of huge sell-offs, some altcoins surged. SYRUP by Maple Finance jumped 24.5% after being listed on Upbit, one of South Korea’s top 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) is up over 40% in the last 24 hours and nearly 4500% in one month, showing that not all crypto assets are following Bitcoin’s lead. Graphite Protocol is a creator-focused platform starting on Solana, aiming to simplify project launches across multiple blockchains like ETH and Polygon. It offers no-code tools, minting infrastructure, and on-chain utilities like casino games.

In general, the rest of the altcoins are recovering from the overnight dump with BONK already up 8% and ETH recovering a 3%.

28 minutes ago

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

By Fatima

BonkFun has reached a record 82.8% share of the launchpad market, its highest since launching three months ago. In the past 19 days, since becoming the leading launchpad, it has generated $26.73 million in fees, averaging $1.41 million per day.

 

A total of 58% of BonkFun fees go directly into buying BONK:

• 50% is used to buy and burn BONK
• 4% goes to the Strategic BONK Reserves
• 4% funds the BonkRewards program

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

(DUNE)

 

Many see BONK as the next big hype trade, with some comparing it to the early days of HYPE. Supporters believe Bonk is now on its way to a $10 billion+ market cap.

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