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. In the next presale stage, the price will rise from $0.0255 to $0.0268.
The crypto market is reeling from a brutal wave of liquidations. According to Coinglass data, over $1 billion in leveraged positions have vanished in the last 24 hours.
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, shedding nearly 10% of its value daily. 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 most of the other altcoins bore the brunt 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.
After the tariffs were introduced, American stocks also tanked alongside crypto, with the Dow Jones falling by 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. The PEP-20 standard lets users launch memecoins on Bitcoin’s blockchain.
Unlike the currently bleeding altcoins and memecoins, Bitcoin Pepe is presently 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, it has raised $3,690,133. The current price is $0.0255, and it is set to rise to $0.0268 in the next stage.
SolidProof has already audited the project’s smart contract, 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.”
The post Bitcoin Pepe emerges as a possible go-to altcoin as the crypto market bleeds appeared first on CoinJournal.
Final thoughts
This paper emphasizes the notable $1.01 billion in liquidations among several cryptocurrencies, namely Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). It provides a thorough summary of the latest fall in the crypto market. It clarifies how the market’s steep decline has resulted from a mix of leveraged bets, shrinking liquidity, and more general economic events, such as tariffs enforced by former President Trump.
The article stands out for its pitch for Bitcoin Pepe, which is being promoted as a possible “haven” for investors among the more general crypto chaos. Combining the security of Bitcoin with the meme coin trend, Bitcoin Pepe’s presale has been attracting popularity even in the down market. The article highlights how the presale is set to rise in price, thereby providing hope for those seeking prospects in the present downturn.
From a critical standpoint, the paper effectively depicts the volatility of the larger crypto market and emphasizes the significant influence of liquidation events on traders. However, it also moves to Bitcoin Pepe as a potential fix, which seems to rely mostly on its presale success and low-cost characteristics like rapid transactions and cheap fees. Given the continuous volatility of the market, this focus on Bitcoin Pepe could seem speculative. Investors should exercise caution before considering new initiatives in such a doubtful atmosphere.
Although the article is helpful for everyone attempting to understand the present situation of the crypto market, contemplating Bitcoin Pepe as a possible investment should be cautiously approached since new ventures in unstable markets have a speculative character. Although the article presents Bitcoin Pepe as a ray of optimism, the success of any meme coin—especially one connected to Bitcoin—will rely on market mood and investor confidence in a somewhat erratic environment.
