Bitcoin’s $62K Dive: A Tale of Algo Dumps and Crypto Chaos!

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Behold, the digital realm trembled as Bitcoin (BTC), that most capricious of coins, plunged from its lofty $66,000 perch to the abyssal $62,700, as if the very gods of finance had taken a midnight stroll through a haunted mansion. A veritable circus of financial acrobatics unfolded, with traders clutching their pearls and muttering about “algo dumps” like exorcists invoking ancient curses.

At the hour of publication, BTC lingered near $62,900, its soul weighed down by a 24-hour trading volume of $45.66 billion-a sum so vast it could buy a small nation’s worth of existential dread. The four-hour slide, a masterclass in market theatrics, saw $60 billion vanish into the void, while $380 million in liquidations danced the macabre waltz of despair, per Coinglass’s grim ledger.

The descent occurred during the hush of Asian trading hours, when even the most ardent crypto enthusiasts were likely sipping tea and pondering life’s deeper mysteries. Yet, no grand tragedy graced the headlines-only the whisper of “coordinated algo dumps,” a phrase as mysterious as the lost scrolls of the Library of Alexandria.

Bull Theory, that paragon of crypto wisdom, declared the carnage a “pure Algo dump from some entity,” as if the market itself were a puppeteer with a penchant for chaos. Their tweets, a cacophony of panic and prophecy, painted a picture of a world where $60 billion evaporates in four hours, leaving only questions and a few very angry investors.

BREAKING: After 10 AM manipulation, now we have 8 PM manipulation.

Bitcoin dumped $2,000 and dropped below $63,000, wiping out $130 million in longs.

$60 billion was erased from crypto market in 4 hours with no negative news or event.

This is pure Algo dump from some entity.

– Bull Theory (@BullTheoryio) February 24, 2026

Mainstream sages, ever the harbingers of doom, blamed the turmoil on Trump’s tariff policies and U.S.-Iran tensions, as if the world’s problems were not already enough. Meanwhile, investor sentiment had descended to “extreme fear,” a state so rare it might as well be a sacred cow in the crypto temple.

Some hailed the crash as a “classic leveraged flush,” a ruthless purge of the weak-hearted, while others warned of deeper trials ahead-$60,000, that elusive mirage, loomed like a specter in the fog. A tale for the ages, indeed.

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2026-02-24 09:02