BUSINESS

Crypto Flash Crash Wipes Out $108 Billion in Six Minutes

PUBLISHED Aug 22, 2026, 10:39 AM ET

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Crypto Flash Crash Wipes Out $108 Billion in Six Minutes

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August 22, with reported market capitalization falling about $108 billion in six minutes. CoinGlass data cited by KuCoin and other crypto publications showed hundreds of thousands of traders liquidated and more than $1.7 billion in positions forcibly closed over 24 hours. Bitcoin briefly fell near $76,500, while Ethereum reached about $2,426 and XRP experienced a much steeper intraday decline. The TOTAL3 index, excluding Bitcoin and Ethereum, reportedly dropped roughly $53 billion in minutes. CoinGlass confirms that its liquidation datasets aggregate exchange data and track long and short positions, but its currently accessible public dashboard does not preserve the event’s historical figures in the page output reviewed today. Coverage across same-day reports also differs on the precise liquidation totals, with later reports citing about $1.35 billion to $1.8 billion. The evidence supports a major liquidation cascade, but not a proven single trigger. �

By Sarah Whitman | JQJO News

Timeline of Events

Past Events:
· On August 22, 2026, market cap fell $108 billion in six minutes.
· On August 22, 2026, Bitcoin fell near $76,500 following the crash.
· On August 22, 2026, XRP dropped approximately 12% to $1.51.
· On August 22, 2026, TOTAL3 altcoin index lost $53 billion market cap.
· On August 22, 2026, over $1.7 billion in positions were liquidated.
· On August 22, 2026, 281,846 traders were liquidated across crypto exchanges.
· On August 21, 2026, Bitcoin rallied to near $80,000.
· Recent days saw $4.5 billion in long positions liquidated over four days.
· Recent rally saw greed index hit 71, highest since October 2025.
· Prior weeks saw Bitcoin trade in $63,000-$65,000 range before breakout.
Present Events:
· On August 22, 2026, markets show sharp correction after rapid rally.
· On August 22, 2026, analyst watching $70,500 as key Bitcoin support level.
Future Expectations:
· Bitcoin uptrend may continue if support at $70,500 holds.
· Losing $70,500 support could risk further price declines ahead.
· Market volatility likely persists as leverage is unwound from system.
· Resistance at $78,800 could cap any immediate recovery attempts.

News Intelligence

Immediate US impact in 10 words:
U.S. crypto investors faced elevated volatility and leveraged-position liquidation risks.
Possible long-term US impact in 10 words:
Repeated cascades could increase scrutiny of crypto derivatives, leverage, and exchanges.
Most affected groups in 10 words:
Leveraged crypto traders, derivatives platforms, altcoin investors, exchanges, market makers.
Readers should prioritize official exchange data and independently corroborated liquidation figures.