Why Is Crypto Crashing Today? Bitcoin Fell Below $112K And $1.7 Billion in Liquidations – Best Crypto To Buy During This Dip?

[Ben Graham]

Crypto markets are under heavy pressure today, raising the big question: why is crypto crashing today? Bitcoin BTC ▼-2.36% dropped below $112K, now trading at $112,660, dragging the total market cap to $3.9 trillion. According to Coinglass, over 402,000 traders were liquidated in the last 24 hours, wiping out $1.7 billion in positions. Longs bore the brunt, accounting for $1.62 billion in losses, while shorts only lost about $85.8 million. Ethereum ETH ▼-5.82% saw $483 million liquidated, while Bitcoin traders lost $276 million.

The selloff comes as traders brace for over $517 million worth of token unlocks in the next seven days, sparking fears of further selling pressure.

(Source: Coinglass)

Despite the red across the board, investors are already asking what could be the best crypto to buy during this dip. Historically, such pullbacks have opened long-term accumulation opportunities, though near-term volatility may persist. Is this the final bottom?

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What’s Next for Bitcoin and the Market?

While liquidations and token unlocks explain the immediate crash, macro uncertainty also weighs on sentiment. Still, one silver lining is the $163 million of inflows into U.S. Bitcoin spot ETFs, showing institutional demand hasn’t dried up.

Bitcoin now faces a critical test at the $112K support zone. If bulls fail to hold this level, BTC could revisit $108K or even $100K. On the upside, reclaiming $117K would open the door for another attempt toward $123K. Ethereum also remains in focus after its drop, with traders watching whether it can stabilize above $4,000.

ethereum

Price

Market Cap

ETH

$505.21B

24h7d1y

For investors with a longer horizon, dips like these often highlight the best crypto to buy, especially top assets like BTC, ETH, and SOL. However, traders should stay mindful of near-term volatility as the market digests both liquidations and unlock-driven supply shocks.

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