2 min read
The crypto market just got jolted awake by a massive wipeout. Over 89,000 traders got liquidated, and a staggering $222 million vanished in just 24 hours. One unfortunate trader on Binance saw a jaw-dropping $12.2 million disappear in a single BTC trade.
Crypto Wipeout: Bitcoin Hits the Snooze Button
Even with more than $40 billion in daily trading volume, Bitcoin is practically snoozing under $107K, barely moving by less than 1%. It still holds a hefty 64.6% market dominance, but that doesn’t offer much comfort when the king refuses to budge.
You can see BTC to PKR trends for the whole of June as follows:
As for Ethereum and XRP? They’re just as uninspired. ETH is barely hanging on above $2,400, while XRP is stuck around $2.17, seemingly waiting for a miracle. The whole market looks like it could use a strong cup of coffee.
The Market Mood
Despite a 32% increase in trading volume, the $3.29 trillion market cap hardly shifted. The Fear & Greed Index is awkwardly perched at 52, essentially having an emotional identity crisis.
It’s neither bullish nor bearish; it’s just shrugging. Some coins like Arbitrum (+13%) attempted to step up, but with laggards like Maple Finance (-7.5%) dragging their feet, it’s clear the market vibe is more chaotic than confident.
What Now? More Wipeout Incoming
Bitcoin may be holding onto its crown, but with this level of whiplash in just 24 hours, brace yourself for more fireworks or fire sales. If the whales sneeze, retail traders are bound to catch a cold.
This market is moody, confused, and dangerously bored. And when crypto gets bored, it tends to break things.
