Crypto Market Red as Bitcoin and Altcoins See Significant Losses: Over $400 Million Liquidated

The cryptocurrency market is experiencing a downturn, with significant losses across various coins. Bitcoin has been declining for several days and hit a 13-day low of under $64,500 today. Altcoins are faring even worse, with liquidations surpassing $400 million daily.

Recent price movements resemble the aftermath of Bitcoin's 2021 all-time high of $69,000 when it sharply dropped by about $10,000. Despite briefly surpassing $70,000 last week, Bitcoin has struggled to maintain momentum. It experienced a significant drop on Friday and failed to break above $70,000 over the weekend.

Monday saw further decline, followed by an unsuccessful recovery attempt. In the past 24 hours, BTC dropped to $64,400 for the first time since March 6. Altcoins have also suffered losses, with ETH falling below $3,400 and SOL dropping by 9% to $185.

Even meme coins like DOGE and SHIB have seen declines of 13%, reaching $0.13 and $0.000025, respectively. This has led to over 175,000 traders being liquidated, totaling more than $400 million in losses, primarily from long positions.