Much more than 45,000 Traders Liquidated as Bitcoin (BTC) Drops Under $62K and Meme Coins See Enormous Losses

Hey there, crypto enthusiasts! It’s been a rollercoaster of a day in the cryptocurrency market, with in excess of 45,000 traders feeling the warmth of liquidation.
The meme cash have taken a hit, with BONK, PEPE, and FLOKI primary the charge in the pink zone.

Ailtra highlighted some extraordinary gains witnessed in more substantial-cap cryptocurrencies yesterday, such as bitcoin’s increase earlier mentioned $64,000 a handful of occasions.
Regretably, BTC couldn’t hold on to people ranges, and the bears have been back in manage, sending it plummeting to a 10-working day reduced underneath $62,000.
Even even though there is been a slight recovery, bitcoin however sits in the crimson, down more than 2%.
Altcoins are feeling the stress too, with Solana major the pack with a 5% dip to $136. Ethereum, a star performer yesterday, has slipped by 3.2% and is battling to keep higher than $3,200.
And the meme coins? They are not faring any far better. BONK down nearly 10%, PEPE down 8.5%, and FLOKI down 7.5%.
All these losses have strike above-leveraged traders tricky, with 45,000 liquidated in the previous day, totaling more than $100 million in wrecked positions. The biggest hit was on OKX, nearing $3 million.
But hey, it really is not all doom and gloom. There are positive indicators and developments for bitcoin that could flip the tide on this downward pattern.