Bitcoin (BTC) crashed to an 11-day low of $115,000 on Monday, August 18, 2025, erasing gains from last week's peak above $124,500. The sharp 2% daily decline came as markets braced for a critical meeting between former U.S. President Donald Trump and Ukrainian leader Volodymyr Zelenskyy regarding the Russia-Ukraine war.
The sell-off accelerated during Asian trading hours and as U.S. futures markets reopened, triggering over $450 million in leveraged position liquidations within 24 hours. More than 115,000 traders were affected, with long positions accounting for the majority of losses. This followed failed weekend talks between Trump and Russian President Vladimir Putin, though Trump later claimed "big progress on Russia" and shifted focus to Zelenskyy's role in ending the conflict.
Altcoins mirrored BTC's plunge: Ethereum (ETH) fell 4.5% below $4,300, XRP lost its $3.00 support level, and Solana (SOL), Dogecoin (DOGE), and Pepe (PEPE) saw 4-5% declines. The total crypto market cap dropped $100 billion to $3.96 trillion, with BTC dominance holding near 58% despite the downturn.