Why did the code fall? On Sunday, August 24, 2025, Bitcoin plunged from $114,700 to $110,600 in minutes, causing $500 million in liquidation, wiping out its leveraged long position. Sales pressure also felt strong for Ethereum and Solana.

The sale reflected macro horror, profit acquisition and slower ETFs, but thin weekend liquidity increased volatility. Sunday will be the main target of whale-driven liquidation hunts, leveraging stop loss clusters and over-traders.

(sauce – tradingView.com))

Why Crypto dropped: slowing down macros, profits, ETFs

The crash on August 24th was a complete storm of macro uncertainty, technical weakness and ETF momentum of decline. It surprised the expected US inflation and surprising markets of PPI data, sparking risk-off sentiment after previous Fed optimism.

Investors were priced for interest rate cuts earlier, but Powell’s Jackson Hole’s remarks gave way to new doubts, Global cell off. Still, Bitcoin is considered a risky asset. The first wave of bearish attacks.

Bitcoin has been caught up in a perfect storm today, not just “to make a profit.” Here’s a nice breakdown of why the 1-hour candle on August 24th went from ~$117,000 to a knife to sub-$112K.

1) Jackson Hole Macro Jitter
Traders prior to Powell’s comments on Jackson Hole… pic.twitter.com/fdqparoq82

– Crypto Dad (@cryptodad_ddc) August 24, 2025

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At the same time, Bitcoin went above $124,000 in the first half of August, causing a wave of profitability. Long-term holders have secured profits, but intraday failures are below key support like $113K, which set a cascade of stop triggers. Open interest in futures has neared record highs, driving a chain reaction of liquidation. A new addition to the 5K $5K ATH, Ethereum also slipped over 2%.

WTF is happening. pic.twitter.com/aedypvnqo9

– Byzantine General (@byzgeneral) August 24, 2025

When fuel was added to the fire, the ETF inflow was stagnant. BTC ▼-2.93% and ETH ▼-3.79% Spot products showing spills.

It throttled fresh demand when emotions were changing. Historically, August has been one of Crypto’s weakest months, falling over the last 12 years, with only regulatory headwinds piling up. These factors formed the pressure cooker that opened the sale on Sunday.

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Expert explanation: Why is Sunday Prime for liquid hunting?

Sunday is notorious in the crypto world for its brutal liquidation hunt. Unlike weekdays, orders will fade over weekends as institutional activities maintain market liquidity. With fewer players, it’s easier for a large owner, “whales” to move prices strategically.

With almost all efforts, the whales send prices to key clusters of leveraged liquidation stop areas, forcing vending or purchasing. Often this creates an explosive, cascade price effect, and normal users are adored.

It could be a low capacity Sunday mandatory liquidation event. The longs these days have been completely washed away.

But if this sale was manifested by Monday morning, this is one level of low plan (if it comes): https://t.co/whwidanl1g pic.twitter.com/2ohp9joilj

– Patrick H. | cryptelligencex (@cryptelligencex) August 24, 2025

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This strategy thrives as retailers chase weekend price action. Grinding slowly and high will seduce them into an over-increasing long, then a sharply engineered dump wipes them off.

For example, the early August low was nearly $111,900, serving as a magnet, where fluidity was clustered. 25x leverage is common on platforms such as Binance, and even small swings trigger cascade clearing. Previous events have erased over $2 billion in just 24 hours.

Sunday is particularly appealing as it “resets” leverage before Monday’s institutional flow. The whale scoops cheap coins after the weak hands are washed away and sets a higher price on bullish cycles. It’s painful, but this weekend there was a repeated wick and rebound cycle.

For veteran traders, it’s not about panic, they realize that Sunday dumps are often Monday discounts.

What’s coming next for Bitcoin and Altcoin?

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Despite the weekend’s chaos, the foundations of long-term cryptography remain bullish. Bitcoin closed its weekly candles at around $113,000, leaving behind a long, underneath core that was historically an inverted signal.

This suggests that while short-term pain was stabbed, the buyer quickly retreated. Spot and derivative volumes fell 6-9%, but Flash cleared the excess leverage it has accumulated over the past few weeks.

The relative resilience of Ethereum and Solana also highlighted the shift. Altcoins only dropped slightly compared to the majors, suggesting that the turn could support the overall market strength. Bitcoin’s advantage, which slips between 57.9%, confirmed this trend.

The recovery story remains intact for ETF flows that are expected to be stable and institutional players waiting for macro clarity.

(Source – tradingView.com)

The external influence from Trump’s tariff adjustments to speculation about FBI sales of additional noise from seized Bitcoin did not halt long-term adoption. Institutional demand remains robust beneath the surface, primarily through ETFs and storage products.

Historic cycles show that liquidation-driven weekends often lead to strong runs. In the short term, traders should expect CHOPs to be fueled by macro data releases and regulations. However, the larger bull case for 2025, with the demand and adoption of ETFs, is still firmly on track.

Discover: 9+ Best High Risk, High Reward Crypto Buy in 2025

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The source code for version 3 of the ERMAC Android banking trojan has been leaked online, exposing the internals of the malware-as-a-service platform and the operator’s infrastructure.

The code base was discovered in an open directory by Hunt.io researchers while scanning for exposed resources in March 2024.

They located an archive named Ermac 3.0.zip, which contained the malware’s code, including backend, frontend (panel), exfiltration server, deployment configurations, and the trojan’s builder and obfuscator.

The researchers analyzed the code, finding that it significantly expanded the targeting capabilities compared to previous versions, with more than 700 banking, shopping, and cryptocurrency apps.

ERMAC was first documented in September 2021  by ThreatFabric – a provider of online payment fraud solutions and intelligence for the financial services sector, as an evolution of the Cerberus banking trojan operated by a threat actor known as ‘BlackRock.’

ERMAC v2.0 was spotted by ESET in May 2022, rented to cybercriminals for a monthly fee of $5,000, and targeting 467 apps, up from 378 in the previous version.

In January 2023, ThreatFabric observed BlackRock promoting a new Android malware tool named Hook, which appeared to be an evolution of ERMAC.

ERMAC v3.0 capabilities

Hunt.io found and analyzed ERMAC’s PHP command-and-control (C2) backend, React front-end panel, Go-based exfiltration server, Kotlin backdoor, and the builder panel for generating custom trojanized APKs.

According to the researchers, ERMAC v3.0 now targets sensitive user information in more than 700 apps.

Additionally, the latest version expands on previously documented form-injection techniques, uses AES-CBC for encrypted communications, features an overhauled operator panel, and enhances data theft and device control.

Specifically, Hunt.io has documented the following capabilities for the latest ERMAC release:

• Theft of SMS, contacts, and registered accounts
• Extraction of Gmail subjects and messages
• File access via ‘list’ and ‘download’ commands
• SMS sending and call forwarding for communication abuse
• Photo capturing via the front camera
• Full app management (launch, uninstall, clear cache)
• Displaying fake push notifications for deception
• Uninstalls remotely (killme) for evasion

Infrastructure exposed

Hunt.io analysts used SQL queries to identify live, exposed infrastructure currently used by the threat actors, identifying C2 endpoints, panels, exfiltration servers, and builder deployments.

Apart from exposing the malware’s source code, the ERMAC operators had several other major opsec failures, including hardcoded JWT tokens, default root credentials, and no registration protections on the admin panel, allowing anyone to access, manipulate, or disrupt ERMAC panels.

Finally, the panel names, headers, package names, and various other operational fingerprints left little doubt about attribution and made discovery and mapping of the infrastructure a lot easier.

The ERMAC V3.0 source code leak weakens the malware operation, first by eroding customer trust in the MaaS in its ability to protect information from law enforcement or allow running campaigns with low detection risk.

Threat detection solutions are also likely to get better at spotting ERMAC. However, if the source code falls into the hands of other threat actors, it is possible to observe in the future modified variants of ERMAC that are more difficult to detect.

BTC has experienced considerable volatility after setting a new all-time high. Prices quickly reverse, signal possible bull traps, and lead everyone to the question, what is the best code to buy now? Perhaps BTC is set up to experience horizontal integration for some time, within the $116 to $124,000 range.

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The Bulls pushed BTC to a new peak of $124.4K, but suffered intense sales pressure and were trapped by the deceased participants. It is now back to the 118K range. Maintaining this level is important for the bull cycle to be effective. Rebounds from the 118K level are a sure sign of a continuing bullish trend.

On the four-hour chart, BTC’s recent movements reflect a classic fluidity sweep. It went past previous all-time highs, triggering a breakout purchase and a stop loss, but it turned sharply.

(btcusd)

It then dropped sharply under previous lower swings.

Currently, BTC is trading between 116K to 124K range. Without a compelling breakout, analysts hope that price action will remain volatile.

In the meantime, traders have zero in liquidity pockets at both ends of the range.

Explore: 9+ Best High Risk, High Reward Crypto Buy in August 2025

What does on-chain data show?

The average seven-day influx of Binance has skyrocketed as we speak, reaching one of the highest levels we’ve seen recently.

This metric tracks the average number of BTCs entering exchanges and has historically been consistent with preparations for sales, margin collateral, or institutional rebalancing.

The spikes show a stable inflow of BTC into Binance’s trading accounts from external wallets. Historically, such spikes have created short-term sales pressure when demand for sufficient locations is not met.

Additionally, Binance’s Netflow tests positive, indicating that the spill will run out.

If buyers do not absorb BTC, imbalances can lead to short-term volatility.

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The $12 billion BlackRock BET rattles out ETH supply, but is it still the best code to buy now?

BlackRock has acquired more than $12 billion in ETH in just 30 days, over 15 times more than BTC purchases in the same period, indicating a strong institutional pivot towards Altcoin King.

BlackRock ETH HOLDINGS

Launched in 2024, BlackRock-Controlled and Managed Isles Ethereum Trust ETF (ETHA) has already raised $1.5 billion in assets, highlighting ETH’s commitment to long-term value.

Its net publication fell to an all-time low in 2025 as its proof model and the EIP-1559 combustion mechanism permanently removes ETH from the circulation.

With BlackRock buying ETH, supply is definitely tightening further, liquidity is declining and price volatility is skyrocketing.

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Analysts predict that ETH could reach $5,000 to $7,000 in 2025.

Explore: Best New Cryptocurrencies to Invest in 2025

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Norway’s Government Pension Fund Global, managed by Norges Bank Investment Management (NBIM), has indirect exposure to 7,161 BTC, worth approximately $862.8 million per K33 survey as of June 30.

It rose 88% in six months and 193% in a year as funds increased the number of stocks in listed companies that hold Bitcoin on their balance sheets.

MicroStrategy remains the largest channel, with NBIM owning 1.05% from 0.72% at the end of 2024. Additional exposures are performed via Block, Coinbase, Marathon Digital, and the Japanese Metaplanet.

Per capita, it is 1,387 Norwegian cloners of Bitcoin exposure for all citizens. In other words, index-grade portfolios already carry the risk of Bitcoin without explicit sovereignty duties.

Discover: Best New Cryptocurrencies to Invest in 2025

Norwegian Crypto Strategy: Mining Restrictions, Service Possibilities and Market Gap highlights opportunities

In June, Oslo signaled a temporary ban on new power-intensive crypto mining data centres to save energy in other sectors.

Digitalization Minister Kalianne Tun highlighted the government’s intention to limit proof of job mining, citing high-power draws and low local job creation.

That limitation curbs short-term mining in Norway. Still, it clarifies lanes for detention, settlement, regulated market infrastructure, and local leadership where institutional finance services, abundant clean energy, strong rule of law, and a conservative risk culture are competitive advantages.

And you have critics like McKinsey’s Martin Bech Holte. He warns that the $20 oil-funded model brings satisfaction with a decline in student scores, high sick leave rates, and taxation systems that are considered to punish entrepreneurs’ success.

This is important for cryptography. To attract and maintain talent to build a high-value blockchain infrastructure, current brain drainage needs to be reversed.

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Highly recognized bats for low penetration

Norway’s perception of Crypto is almost abnormal at 96%, but now they only own 11%, with two-thirds of holders allocating less than 5% savings, with most positions at NOK 50,000.

Defi usage is negligible at 6%, while NFT adoption is only 1%. The most common reasons for non-ownership are lack of interest, lack of knowledge, and perceptions of high risk.

This careful profile, coupled with near-similar perceptions, is a major set-up for the gradual deployment of bank integrated custody, pension-related exposure, and tokenized real-world asset pilots.

The three moves could position Norway as a global crypto hub. It enables direct sovereign BTC exposure via listed ETPs, builds national custody/settlement stacks with clear accounting, launches tokenized goods and trade finance pilots in energy, fishing and shipping.

NBIM already owns 1.5% of its global stock, so Norway has a lower political risk and worsens strategic profits, allowing it to extend its market plumbing advantage to crypto.

Discover: Buy Now 12+ Hottest Crypto-Precels

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A couple of days after surprising the XRP community with the news that he had built and deployed a fully operational XRPL server out of his own pocket, Ripple CTO David Schwartz is already thinking about what comes next — and no, it is not more hardware. This time, it is about visibility.

Back in early August, Schwartz said he is planning to write a custom monitoring tool to track the performance and activity of his setup. This is specifically to support tools like rrdtool or Cacti.

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It might sound like a side project, but it is actually based on the same ideas that went into the hardware build: keep it simple, strong and built specifically for XRPL. The server, which is in a New York datacenter and runs Ubuntu with a 9950X processor, 256 GB RAM and a 10 Gbps unmetered link, is already syncing and providing live connectivity. 

Schwartz confirmed it can realistically handle 192 server connections and possibly more but wants to keep plenty of headroom in reserve for moments of network stress or instability.

What’s next?

There are not any monitoring graphs yet, but that is what the next step is for. Actually, while one of his followers suggested using Grafana, Schwartz just dismissed it, saying that it is not necessary for what he is building. 

It is not about fancy dashboards — it is about understanding how the infrastructure performs under pressure and making sure it stays reliable, even in unpredictable situations.

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The project is still personal and independent, with no official Ripple involvement, but the implications for XRPL’s decentralization are real. With Schwartz back in the trenches running infrastructure directly, the network might gain not only more connectivity but also sharper insights into how it performs outside the lab.

Anthropic says it has revoked OpenAI’s access to the Claude API after ChatGPT’s engineers were found using Claude’s coding tools.

Claude Code is better than any other coding tool in the AI coding industry, also known as “Vibe coding.”

With Claude, you can create web apps from scratch, and it’s also pretty efficient with infra-related work.

Not just vibe coders who don’t know how to code use Claude, but also professional engineers.

In fact, Claude Code is also used in Claude’s development at Anthropic.

Anthropic offers API access to Claude, which means OpenAI could also access it.

But on Friday, Anthropic confirmed that it revoked OpenAI’s access to Claude Code after the company was found using its coding tools ahead of the GPT-5 launch.

“Claude Code has become the go-to choice for coders everywhere, and so it was no surprise to learn OpenAI’s own technical staff were also using our coding tools ahead of the launch of GPT-5,” Anthropic spokesperson Christopher Nulty noted in a statement to Wired.

It’s unclear how OpenAI engineers were using Claude Code, but it’s possible it was used to improve GPT-5’s coding capabilities.

GPT-5 is expected to launch next week with “auto” and reasoning modes.