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The cryptocurrency market endured a sharp pullback on October 7, shedding roughly $60 billion in total value within a single hour. According to data retrieved by Finbold from CoinMarketCap , the global market capitalization dropped from $4.30 trillion at 3:00 p.m. UTC to $4.24 trillion by 4:00 p.m. UTC. Crypto market flash crash. Source: CoinMarketCap Bitcoin led the downturn. The flagship cryptocurrency, which had been tracking as high as $126,000 earlier in the session, slipped from $125,000 to $122,997 at press time, erasing around $40 billion from its market capitalization. The coin’s market cap declined from $2.49 trillion to $2.45 trillion over the same span. Bitcoin 1-day price chart. Source: CoinMarketCap Altcoin market turns red Almost all of the top 10 cryptocurrencies by market cap followed Bitcoin lower. Ethereum (ETH), Solana (SOL), and XRP each registered intraday losses. The sole exception was BNB, which remained up 7% in the past 24 hours, h...

According to LookOnChain, Pepe (PEPE) whales seem to be accumulating over the last few days. One whale in particular withdrew 420 billion coins worth $5.39 million on May 18. The whale has so far withdrawn 2.21 trillion coins worth $29.28 million. Also Read: MetaPlanet Buys $104M in BTC After Bitcoin Closes at $106.5K Weekly High Massive $PEPE accumulation! This whale withdrew another 420B $PEPE($5.39M) from #Binance 5 hours ago, bringing the total to 2.21T $PEPE($29.28M) withdrawn over the past 2 days.https://t.co/XdqrB6Ju97 pic.twitter.com/iAQoQyBMgX — Lookonchain (@lookonchain) May 18, 2025 Cryptocurrencies Slide After Substantial Resistance Source: Watcher Guru Despite the whale’s withdrawal, PEPE seems to have faced a steep correction over the last few days. The asset’s price has fallen 1.2% in the daily charts and 11.8% over the previous week. The frog-themed crypto has maintained big gains over other time frames. The memecoin is up 54.6% in the 14-day charts, 77...