SIREN has emerged as one of the market’s biggest losers, plunging more than 35% over the past 24 hours as a fresh wave of selling pressure swept across the cryptocurrency sector.
Bitcoin came under renewed pressure after failing to hold above the $64,000 level. The leading cryptocurrency fell sharply over the past 12 hours, dropping to just below $61,000. Growing geopolitical tensions in the Middle East appear to have contributed to the decline, sparking a broader risk off sentiment across financial markets.
Bitcoin Faces Another Setback
The previous trading week was marked by heightened volatility and steep losses for Bitcoin. The asset began the week trading around $73,000 before steadily surrendering major support levels. The selloff intensified on Friday.
After falling below $70,000, then $65,000 and $62,000, Bitcoin approached the $60,000 mark for the first time since early February. Unlike previous corrections, however, sellers maintained firm control and pushed the cryptocurrency beneath that threshold, sending it to a 19 month low of $59,100.
Despite the sharp decline, Bitcoin managed to stage a quick recovery. It reclaimed the $60,000 level by the end of the day and climbed back toward $61,000 and $62,000 over the weekend. At the start of the current trading week, BTC tested the $64,000 level twice.
Momentum shifted again after reports surfaced that Iran had downed a United States helicopter, prompting comments from the US president indicating that a response was necessary.
The escalating geopolitical uncertainty triggered immediate selling across both cryptocurrency markets and Wall Street. Bitcoin quickly retreated to just under $61,000 and is now struggling to regain that level. Its market capitalization has declined to approximately $1.225 trillion, while its dominance over the altcoin market has slipped to 56 percent.
Altcoins Continue to Bleed
The broader altcoin market has suffered even steeper losses.
Ethereum has fallen more than 3 percent and is trading near $1,600. BNB has declined by a similar margin to around $585, while Dogecoin has dropped to $0.084.
XRP has shed more than 5 percent and is once again testing a critical support zone. Solana has slipped well below $65, while Cardano continues its downward trend toward $0.16.
HYPE and ZEC posted some of the largest declines over the past day, both recording double digit losses. HYPE is now changing hands at around $56, while ZEC has fallen to $425.
Several smaller cryptocurrencies experienced even deeper corrections. SIREN plunged 37 percent, LAB declined 16 percent, and DEXE dropped 15 percent.
Not all assets ended the day in the red. BEAT emerged as one of the strongest performers with a 28 percent gain. WBT followed with a 13 percent increase, while STABLE advanced by 12 percent.
As a result of the widespread selloff, the total cryptocurrency market capitalization has lost more than $60 billion in just 24 hours and now stands below $2.2 trillion, according to CoinGecko.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
