Meme-Coin, AI Tokens Lead Gains After Bitcoin Drop Causes $2B in Weekend Liquidations

Bitcoin and other major tokens began to recover from weekend losses, with BTC trading around $66,600 in European morning hours, buoyed by claims of approval of spot bitcoin and ether ETFs in Hong Kong.

Meme coins and artificial intelligence -linked tokens led gains in the past 24 hours as bitcoin and other major tokens started to reverse weekend losses., Solana’s SOL and Avalanche’s AVAX, were among the worst-performing categories, with an average rise of 5.5%.

As a result, $2 billion in futures positions were liquidated over the weekend, the most since March. Over $1.5 billion of those positions were betting on higher prices, data from analysis tool Some traders said the price fall was expected ahead of the halving, a much-anticipated event on April 20 that will cut the rewards offered to network miners by half.

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