Leading cryptocurrencies bled alongside stocks on Monday, as new global tariffs and AI disruption fears sparked jitters.
Crypto Woes Drag On
Bitcoin slipped below $64,000 as sell-off intensifies and leveraged liquidations jump. The apex cryptocurrency has now fallen nearly 50% from its all-time highs set in October.
Ethereum dropped to an intraday low of $1,813, as trading volume soared 86% in the last 24 hours. XRP and Dogecoin moved sideways.
Over $466 million was liquidated from the market in the last 24 hours, according to Coinglass, with long liquidations accounting for the majority. Bitcoin alone recorded $233 million in liquidations.
Bitcoin’s open interest fell 0.94% over the past 24 hours, although the majority of Binance’s retail and whale investors remained long on BTC as of this writing.
Market sentiment has plunged into “Extreme Fear,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.23 trillion, following a decline of 3.31% over the past 24 hours.
Stocks Crack On Tariffs, AI Pressure
Stocks kicked off the new trading week with a jolt. The Dow Jones Industrial Average fell 821.91 points, or 1.66%, to close at 48,804.06. The S&P 500 slid 1.04% to end at 6,837.75, while the tech-focused Nasdaq Composite dropped 1.13% and ended at 22,627.27.
Precious metals eased after the Sunday spike. Spot gold traded down 0.36% to $5,208 an ounce, while spot silver slid 1.15% to $87.14 an ounce.
Will Bitcoin Drop Below $60,000?
Killa, a widely followed cryptocurrency analyst and trader, said Bitcoin could bottom sooner than most people expect, potentially in July or August
“Buying BTC now is equivalent to buying $22,000 last cycle,” the analyst stated.
Another well-known X commentator, Jelle, noted Bitcoin’s rejection on the 4-hour chart, adding, “Feels like sub-$60,000 is a matter of time at this point.”
Photo: Shutterstock/Sodel Vladyslav
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