Bitcoin slid below $115,000 on Monday and briefly dipped under $114,000 on Tuesday, erasing almost 8% of the gains that carried it to a record $124,000 late last week. Ether fell in tandem, hovering near $4,250 after peaking close to $4,800, while most major alt-coins lost between 4% and 7%. Market trackers said the pull-back wiped roughly $100 billion from the sector’s capitalization, leaving the total at about $4.1 trillion. The reversal ignited a cascade of forced liquidations. Data compiled from several derivatives venues show more than $500 million in leveraged long positions were closed within 24 hours, including about $100 million in a single hour as prices accelerated lower. Bitcoin and Ether each fell around 7% and 11% from their highs, respectively, amid renewed macroeconomic worries and risk-off positioning. Large holders and institutions added to the selling pressure. Trading records indicate BlackRock moved out 490 BTC worth $68.7 million and 19,505 ETH valued at $82.7 million, while Fidelity sold 17,537 ETH for $74.3 million. On-chain monitors also flagged multiple whales transferring tens of thousands of Ether to exchanges: wallet 0x7378 sold 3,075 ETH for $13.25 million and still holds 15,708 ETH, and wallet 0x89Da closed a 21,683 ETH long at a $6.6 million loss. Flow data point to a broader risk pull-back. Bitcoin and Ether exchange-traded funds recorded net outflows of $122 million and $197 million, respectively, over the past day, reversing part of the record inflows seen earlier in August. Market participants are watching whether macro conditions stabilize after the latest inflation data, which many analysts cite as a trigger for the current liquidation wave.