The main crypto assets fell sharply

The cryptocurrency market started the week with a significant drop. The price of bitcoin BTC $63,391.65 Mezo Wrapped BTC 0.88% Market capitalization $75.51 million VOL. 24 hours $0.95 billion dropped below $ 100,000. After a relatively stable weekend, when the price of the flagship cryptocurrency held at $ 105,000, on Monday morning trading in Asia led to a decline to $ 99,700, which is a 5% loss overnight. The market capitalization of the leading digital token fell below the $ 2 trillion mark.

Altcoins suffered even greater losses. Ethereum ETH $1,868.07 Bridged Ether (StarkGate) 0.10% Market capitalization $33.23 million VOL. 24 hours $0.34 billion dropped by 7% to $ 3,100, and the tokens XRP $1.08 Binance-Peg XRP -0.01% Market capitalization $0.35 billion VOL. 24 hours $50.12 million , ADA $0.19 Binance-Peg Cardano 1.16% Market capitalization $86.89 million VOL. 24 hours $37.63 million , Solana SOL $73.54 Binance-Peg SOL 0.53% Market capitalization $80.92 million VOL. 24 hours $83.48 million and Dogecoin DOGE $0.07 Binance-Peg Dogecoin -0.13% Market capitalization $0.18 billion VOL. 24 hours $26.75 million lost 10% to 15% of their value. Most of the major cryptocurrencies are showing double-digit percentage declines, reflecting the overall market volatility.

CoinGlass data indicates mass liquidations. Over the past day, more than $ 600 million worth of positions were liquidated, of which $ 560 million was lost in the last 12 hours. The largest single liquidated position amounted to $ 98.46 million and was recorded on the HTX platform in the BTC/USDT pair.

The sharp fluctuations in cryptocurrency rates are a reminder of the high risks of investing in the digital asset sector. Analysts recommend that investors take a balanced approach to assessing market dynamics and avoid excessive risks.