Crypto Market Fun Today: Bitcoin Drops to $62,000, Leveraged Traders Are Liquidated

The price of Bitcoin dropped to $62,000 today, causing a large number of leveraged traders to be liquidated.

The market as a whole is also falling, with most altcoins performing poorly.

Ethereum is down 3.7% and is currently trading below $3,400. BNB is down 3.3%, and Solana is down 6.9% in the past 24 hours.

Three unlucky ones: WIF, BRETT, and NOT

Dog Hat (WIF) became popular earlier this year, when its market value soared from almost zero to more than $4 billion. In April, WIF hit an all-time high of about $4.60, with a total market value of $4.6 billion. However, since then, the popular meme coin has been on a downward trend. WIF has fallen nearly 70% since its peak, and many speculate that its glorious bull run is over.

WIF is down nearly 14% in the past 24 hours, dropping out of the top 50 cryptocurrencies by total market cap. This brings its total losses to about 37% in the past week, 43% in the past two weeks, and 46% in the past month. The only thing that looks good is that dog hat is still on.

BRETT is another popular meme coin that caught the attention of the crypto community in early March and soon became popular. In early June, the cryptocurrency hit an all-time high of about $0.18. However, BRETT is down nearly 13% in the past 24 hours.

It's down about 25% in the past two weeks, but it's still up 130% in the past month. It will be interesting to see how this meme coin develops in the future and whether it will follow WIF's footsteps and fall further into a bear market.

Notcoin has plunged 13% in the past day, bringing its total losses for the week to about 26%. It should be emphasized that NOT is a hybrid of meme coins and game coins, circulating on the TON blockchain and part of Telegram's gamification system. The cryptocurrency was launched through Binance's Launchpool and has risen 171% in the past 30 days.

What these three cryptocurrencies have in common is that they all contain meme elements, so they are more volatile than traditional altcoins.

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