Cryptocurrency markets swung sharply on 22 August. Bitcoin, the largest digital asset, slid below $112,000 before reversing course and trading around $115,740 less than two hours later, a move of more than 3% that underscored persistent volatility in the sector. Ethereum outperformed, surging more than 8% in about 15 minutes to top $4,600. The rally left the token less than 2% shy of its prior record high of $4,878.26 and fuelled speculation among traders that a new peak could be reached before the end of the session. Gains spread to other tokens: Solana touched about $196, while the smaller Sui token approached $3.67. Market participants pointed to momentum-driven buying rather than a single catalyst for the day’s rapid price swings.