Crypto Market Drops Over $500M Longs Liquidated as Bitcoin, Ethereum See Major Losses

• Bitcoin drops 7% to $63,142, Ethereum drops 10% to $3,230 as crypto market sees red • Global crypto market cap falls below $2.5 trillion, down 8% since yesterday • Over $500M long positions and $100M short positions liquidated across contracts • Meme coins like Dogwifhat, Bonk, and Floki Inu see even larger losses, around 20% drops • Jupiter token falls 16% despite pledge to help Slerf presale buyers who lost $10M