Bitcoin retreated sharply on Monday as renewed geopolitical tensions rattled financial markets, while Pi Network and APX posted some of the steepest losses among major cryptocurrencies.
After a relatively calm weekend, BTC came under pressure as investors reacted to the latest escalation in the Middle East. The flagship cryptocurrency briefly fell below $63,000 before recovering slightly.
Bitcoin had bounced back strongly after dropping below $58,000 on July 1, quickly reclaiming the $60,000 level before climbing to around $64,000 by July 6. However, Strategy’s latest and largest Bitcoin sale triggered a sharp selloff that pushed the asset down to roughly $61,200 within hours.
Unlike previous selloffs, Bitcoin recovered quickly from the initial wave of fear, climbing to around $64,400 the following Tuesday. That recovery was short lived after renewed hostilities between the United States and Iran sparked another round of market weakness.
BTC fell to approximately $61,600 before stabilizing and staging a modest recovery later in the week. The rally peaked on Saturday when Bitcoin reached a multi week high of about $64,600 and traded near $64,000 throughout most of the weekend.
Fresh geopolitical concerns weighed on markets again on Monday, sending Bitcoin down to around $62,400. At the time of writing, the cryptocurrency had recovered to just above $63,000. Its market capitalization stood at roughly $1.265 trillion, while its share of the overall crypto market edged higher to 56.7%.
Pi Network continued its prolonged decline, falling to another all time low of around $0.086. The token has now lost more than 97% of its value since reaching its peak last year.
APX also suffered heavy losses, dropping more than 25% over the past day. On the other hand, BEAT surged about 20%, while DEXE extended its recent rally with another strong advance.
Among the larger cryptocurrencies, Ethereum once again failed to break above the $1,800 level. BNB slipped back toward $570, while XRP briefly fell to around $1.07 before trimming some of its losses. DOGE, HYPE, RAIN, ZEC, and XLM also traded lower, whereas Solana and Monero posted only modest gains.
The broader cryptocurrency market lost more than $20 billion in value over the past 24 hours, bringing the total market capitalization below $2.24 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
