Top cryptos started to bleed capital on Sunday as over $450M in longs on Bitcoin and Ethereum were liquidated. This happened a day after Jerome Powell’s “sort of positive” news about a Fed interest rate cut, which caused a short-lived price spike in BTC and ETH before selling pressure mounted. As a result, the Ethereum price was rejected at $5K, and Bitcoin currently hovers just above $113K.
But as hopes of new highs grow dimmer among some circles, analysts still believe better times will come. These “short-term hiccups” have not deterred many investors who aim to use this volatility to search for the best crypto to buy now.
Bitcoin and Ethereum’s Long Positions Liquidated
Coinglass reveals that in the last 24 hours, long positions worth over $236 million were wiped out for Bitcoin and over $214 million were liquidated for Ethereum. Solana and Dogecoin were the third and fourth cryptos to suffer losses, with $23.95 million and $14.09 million worth of long liquidations, respectively.
Why did this happen? A simple reason would be overleveraged longs. As the narrative around the top cryptos has been overtly bullish recently, many traders were using high leverage, up to even 100x, to bet on BTC and ETH going higher. When the market went through a short-term downturn, these investors panicked, leading to liquidations.
What does this mean for the market going forward?
For one, this long squeeze has removed $500M worth of bullish leverage. Since longs have been forced out, there is much less chance of immediate liquidations happening. Analyst Tradermayne echoes this belief and says that ETH has not reached the top yet.
This liquidation also reduces excess leverage and funding imbalances. With overexposed positions cleared, both BTC and ETH could stabilize and rebuild momentum in the mid-term. In the short-term, however, the market remains volatile.
Best Crypto to Buy Now for Smart Investors
Below are the picks that investors should start to focus on.
Bitcoin
The leading choice for most investors given the current market circumstances could be Bitcoin. Although it has not been able to work the same magic as before, institutional interest in it remains high, and the face of this institutional bullishness is Michael Saylor. The Strategy Chair recently posted a tweet stating that Bitcoin is on sale right now, expressing that the BTC price could go much higher.
The community, however, is taking these words with a grain of salt, especially since MicroStrategy has not bought any Bitcoin since August 18.
As far as the price chart goes, it seems like Bitcoin is currently in a long consolidation phase. The last time this happened was in May and June 2025. If history repeats, the market may see an uptrend in the middle of September.
A Fed rate cut is another thing to watch out for as it could have a profoundly positive impact on the Bitcoin price. That being said, only investors willing to buy and hold should consider it, since the short-term price action has not been positive due to massive red candles.
At the time of writing, Bitcoin is trading just below $112K and its market cap is $2.29 trillion.
Bitcoin Hyper
The recent liquidation of more than $200 million in Bitcoin longs shows how overleveraged positions continue to get wiped out, yet it also proves that most market participants are still heavily focused on BTC. For those looking to go beyond the speculative rollercoaster, Bitcoin Hyper presents itself as a strong alternative that builds on Bitcoin’s foundation while adding real utility.
Bitcoin Hyper integrates a range of features to make Bitcoin more stable and versatile. Its Layer 2 scaling system enhances speed and efficiency, the Solana Virtual Machine allows for decentralized application deployment, and the Canonical Bridge brings seamless interoperability. Together, these features create an ecosystem where Bitcoin can evolve into something more than just a store of value.
Its aesthetics lean into memes, with a Pepe-inspired superhero at the forefront. This gives Bitcoin Hyper short-term virality, a trait that could help it withstand temporary downturns like the recent long liquidations that rattled the Bitcoin market. While its memes drive hype, its use cases remain the cornerstone of the project.
The blend of humor and genuine functionality has already attracted significant attention, allowing Bitcoin Hyper to raise over $11 million so far in its presale. With analysts voicing bullish opinions, it has become one of the standout meme-inspired projects with both short-term upside and long-term potential.
Ethereum
Ethereum made news two days ago by reaching its all-time high upon crossing the $4.9K barrier. However, profit takers prevailed, and the world’s biggest altcoin could not reach the $5K level as the market had hoped.
Why did the ETH price fall? Long liquidations and macroeconomic conditions. Institutional support for the altcoin, however, remains very strong. SosoValue shows that its net inflow, as of August 22, is over $341 million.
Crypto Birb recently stated that the upward breakout of Ethereum could push it past the $8,000 mark and that investors should keep an eye on its price action over the next week.
In terms of technicals, the Ethereum price is currently above the $4.7K level, and despite the short-term downturns, the price action continues to follow an uptrend. Long-term holders should consider investing, as updates coming later in 2025 could boost its value.
Best Wallet Token
The wave of Bitcoin long liquidations in recent days has created uncertainty in the market, but it has also opened the door for altcoins to gain traction. For new investors looking to explore this shift, Best Wallet provides a reliable entry point, supported by its native asset, the Best Wallet Token.
The wallet recently rolled out its version 2.10 update, which introduced a host of new features. These include Bitcoin swap support, Solana chain integration, and a new gamification system where users can earn points simply by interacting with the app. Together, these updates make Best Wallet more versatile and engaging, offering users the flexibility to interact with both established and emerging assets.
Beyond the new upgrades, Best Wallet continues to offer its established features such as crypto buying and selling with fiat, staking options through providers like Rocketpool and Lido, and the highly valued Token Launchpad, which grants early access to promising low-cap projects. These tools create an ecosystem where users can balance speculation with structured opportunities.
Overexposure to volatility in the current market climate has burned many traders, Best Wallet stands out as a platform that helps mitigate risks while still offering growth potential. Powered by the Best Wallet Token, it ensures that users benefit from enhanced staking rewards, reduced fees, and priority access to upcoming crypto presales.
So far, its presale has raised over $15 million, underlining the growing interest in its blend of security, accessibility, and opportunity.
Wall Street Pepe
Wall Street Pepe is built on strong Pepe-inspired themes but adds a unique twist by focusing on retail investors rather than institutional players. Its mission is to create a movement where the community has the tools and power to shape the meme coin market.
One of its standout features is the Alpha Trading Chat, where members gain insights and signals that have already helped deliver big wins, including gains of over 600 percent on projects like Pudgy Penguins. This sense of shared knowledge and active strategy sets it apart from many meme coins that rely solely on hype.
The project recently expanded into the Solana ecosystem, a move that adds speed, accessibility, and broader appeal. With this expansion, Wall Street Pepe also introduced a buyback and burn program, where each Solana-based WEPE purchase results in burning an ETH-based WEPE. This dual-chain strategy strengthens scarcity while boosting long-term value.
At a time when most top altcoins are showing weak short-term price action, Wall Street Pepe has bucked the trend. It has surged 11 percent in the last week, now trading around $0.00007, a growth spurt that highlights its strength as a low-cap degen play. For investors chasing parabolic returns, Wall Street Pepe is shaping up to be one of the strongest contenders in 2025.
Conclusion
Recent liquidations have shaken the market, but they could lead to better results in the long term. The removal of overleveraged positions paves the way for more realistic investors. These investors could be bulls holding their ground to maintain stable price action for top cryptos, potentially leading to future upsides that could lift the entire market.
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