- The crypto market has crashed, losing $1.01 billion in liquidations.
- Bitcoin (BTC) has plunged below $84k while altcoins like ETH and SOL have slumped 15-20%
- Bitcoin Pepe’s presale offers a compelling alternative with the price set to rise from $0.0255 to $0.0268 in next presale stage.
The crypto market is reeling from a brutal wave of liquidations. Over $1 billion in leveraged positions have vanished in the last 24 hours, according to Coinglass data.
The liquidations have hit traders hard across major exchanges. Bitcoin alone accounted for $396.16 million in wiped-out positions. Ethereum saw $209.58 million evaporate, and Solana’s liquidations reached $70.55 million. Even meme coins weren’t spared—Dogecoin saw over $20 million in liquidations.
The crypto market erased gains made earlier this week
Bitcoin (BTC) has plummeted below $84,000 gain, shedding nearly 10% of its value in a single day. The tumble has reversed its rally past $95,000 earlier this week. It has hit an intraday low of $82,467.24 before stabilizing slightly above $83k.
Ethereum (ETH) followed suit, diving 15% to $2,089, while altcoins like Solana (SOL) and XRP cratered by 20% and 18%, respectively. Cardano (ADA) also plunged 25% to $0.7998 as a majority of the other altcoins bore the blunt of the bloodbath.
Meme coins were not spared either. Shiba Inu (SHIB) and Pepe Coin (PEPE) have dropped 13% and 18%, respectively, while Sonic (S) and Trump-backed tokens have shed 23% to 25,% respectively. It seems the high-risk corner of the market faced unrelenting exits as fear gripped traders.
Notably, the crypto market carnage mirrors a broader market slump, with the global crypto market cap tumbling 10% to $2.76 trillion.
What is causing the crypto market to drop?
Investors blame CME futures gaps and thinning liquidity for the sudden crypto market drop. Analysts point to liquidity gaps and leveraged bets gone wrong as the culprits.
Trump’s talk of a strategic crypto reserve couldn’t shield the market from broader economic tremors; the selloff has erased gains sparked by optimism over President Donald Trump’s pro-crypto moves.
Besides the liquidity gaps, economic factors are also to blame for the crypto crash. Trump’s new 25% tariffs on imports from Canada and Mexico have sparked trade tensions.
Canada and Mexico supply a third of US goods, and the tariffs threaten growth and stoke inflation fears.
Following the introduction of the tariffs, American stocks also tanked alongside crypto, with the Dow Jones falling 650 points. The VIX index also jumped to 22, signaling rising market panic.
Historically, cryptocurrencies falter when fear dominates, pushing investors to the sidelines.
Bitcoin Pepe emerges as a haven for crypto investors
Amid this chaos, Bitcoin Pepe stands out as a bold contender. Pitched as the “World’s Only Bitcoin Meme ICO,” blending Bitcoin’s durability with meme coin flair, the project aims to build a Meme Layer-2 for Bitcoin, promising instant transactions and ultra-low fees. Its PEP-20 standard lets users launch memecoins on Bitcoin’s blockchain.
Unlike the currently bleeding altcoins and memecoins, Bitcoin Pepe is currently in its presale stages, which are structured to ensure the price rises with each presale stage progression.
The presale is gaining traction despite the market rout. Currently in stage 5 of 30, the presale has raised $3,690,133. The current price sits at $0.0255 and is set to rise to $0.0268 in the next stage.
The project’s smart contract has already been audited by SolidProof, offering a glimmer of credibility in a sea of uncertainty.
Interested investors can connect wallets and buy in, betting on its vision of “Solana on Bitcoin” as a lifeline. The project’s whitepaper and roadmap pitch a future where meme coins thrive on the “only chain that will live forever.”
