This Monday morning, the crypto market dimmed again, you know! 😢 ETH drops below $3K again, down 4% on the day. XRP is also down 5%, and bulls are struggling to defend the critical $0.4 level.

There are no exceptions for large-cap altcoins, they are all in the red. This decline resulted in the liquidation of nearly $300 million in leveraged positions, most of which were long positions. Although $113M is a short position, it shows volatile price action.

The hardest hit was the meme coin sector. According to CoinGecko, the sector is down 10% in the last 24 hours. Some examples:

DOGE drops 6.4%

SHIB drops 4.8%

PEPE down 10%

WIF down 9.5%

BONK down 6%

FLOKI drops 6%

The Crypto Fear and Greed Index shows the current market sentiment is fear, with a score of 28. For comparison, last week's score was 53 and last month's was 72.

The market seems to still be wary of selling pressure that might be triggered by creditors selling their BTC and BCH from the Mt. exchange. Gox. As reported by CryptoPotato, this defunct trading platform has started paying its creditors after a saga that lasted around 10 years.

Come on, share your opinion about this in the comments column! 😊