Bitcoin fell below $US63,000 on June 24 as heavy liquidations and weak investor sentiment pressured the broader crypto market. More than $575 million in leveraged positions were reportedly erased within 24 hours, while the Fear and Greed Index dropped to 23, signaling extreme fear among traders.
Despite the downturn, some investors continued accumulating assets, while institutional activity remained visible. Pepeto also reported raising more than $10.3 million during its presale, attracting attention as traders searched for alternatives during uncertain conditions.
Bitcoin Slides as Liquidations Accelerate
Bitcoin dropped towards $US61,149 after a technology-sector sell-off in Asia weakened global risk appetite. South Korea’s KOSPI reportedly declined sharply, adding pressure to equities and digital assets.
The crypto market recorded approximately $575 million in liquidations, including nearly $458 million from long positions. Ethereum fell toward $1,637, while Solana declined near $69. These moves confirmed that selling pressure remained widespread rather than limited to Bitcoin.
Forced liquidations often accelerate declines because exchanges automatically close leveraged positions when traders cannot maintain required collateral. This creates additional selling during already weak sessions and can increase short-term volatility.
Pepeto Presale Draws Attention
Pepeto has reportedly secured more than $10.3 million through its ongoing presale. The project presents itself as a blockchain ecosystem offering a cross-chain bridge and decentralized exchange features.
Its promotional materials claim that PepetoSwap supports fee-free transactions and that its bridge can transfer assets between networks without additional charges. The project also advertises staking rewards reaching 169% APY and lists its token price near $0.0000001878.
However, high-pressure returns and presale investments carry substantial risk. Investors should verify smart-contract audits, token distribution, liquidity plans, development progress, and exchange-listing claims. A future Binance listing should not be treated as confirmed unless Binance publishes an official announcement.
Pepeto’s supply reportedly totals 420 trillion tokens, matching the supply structure associated with Pepe. Still, similarities in token supply do not guarantee comparable demand, adoption, or valuation. Market performance depends on utility, liquidity, community activity, development, and broader crypto conditions.
Bitcoin Remains Above Key Support
Bitcoin held near $61,149 with an estimated market capitalization of over $1.3 trillion. Despite ETF outflows and bearish sentiment creating pressure, BTC continued defending the psychologically important $60,000 area.
Holding this support could allow buyers to attempt a recovery towards $63,000 and higher resistance. However, a sustained break below $60,000 could increase selling and expose lower support zones.
Bitcoin remains well below its previous record high. Therefore, a return to earlier peak levels would require a significant percentage recovery and stronger market-wide demand.
Ethereum Struggles Near $1,637
Ethereum traded around $1,637 after falling sharply from previous highs. Although ETH remains one of the largest crypto assets, its recent weakness reflects reduced risk appetite and broad pressure across altcoins.
A recovery towards $2,000 would improve sentiment, while failure to defend nearby support could create further downside. Investors are also monitoring network activity, institutional demand, staking participation, and broader decentralized finance usage.
Conclusion
The latest crypto market news reflects fear, leverage-driven selling, and uncertain momentum. Bitcoin remains above $60,000, but liquidations continue to fuel volatility. Ethereum and Solana also face pressure, while Pepeto’s fundraising attracts speculative interest.
Traders should monitor volume, funding rates, and macroeconomic developments before assuming the downturn has ended.
Presales require careful evaluation. Investors should avoid unverified listing claims or projected returns. Strong risk management, independent research, and official confirmation remain essential during extreme market fear.
