Bitcoin continued its decline after the Saturday crash, hitting a fresh multi-month low of just over $74,000 on Monday morning. The fall also hit altcoins hard, with Ethereum among the biggest losers and XMR down significantly in the past 24 hours.
Bitcoin Struggles and Partial Recovery
Last Wednesday, Bitcoin briefly tested the $90,000 resistance, but the rally faltered amid the Fed’s pause on rate cuts and rising geopolitical tensions in the Middle East. The correction accelerated, sending BTC to $81,000 on Thursday, then briefly rebounding to $84,000 on Friday. By Saturday, the market lost control, and Bitcoin plunged below $76,000, triggering over $2.5 billion in liquidations. After failing to recover on Sunday, BTC hit $74,400 Monday morning, marking a $15,000 loss in just a few days. Since then, it has recovered slightly to around $78,000, with its market cap at $1.55 trillion and dominance over altcoins at 57.5%.
Altcoins Take Heavy Losses
Ethereum, which traded above $3,000 last Wednesday, fell to around $2,100 before recovering to $2,300, down 5.5% on the day. Monero also dropped to $400. Other major altcoins including XRP, BNB, SOL, DOGE, ADA, BC, LINK, and XLM are all in the red, while Pi Network’s native token touched a new all-time low.
In contrast, MYX saw a strong daily gain of 13.5%, followed by a 10% surge in M. Overall, the total crypto market cap has lost $300 billion since Saturday and $500 billion since last Wednesday, falling to $2.65 trillion.
