The main crypto assets fell sharply

The cryptocurrency market started the week with a significant drop. The price of bitcoin BTC $71,215.03 Mezo Wrapped BTC 0.92% Market capitalization $42 million VOL. 24 hours $1.44 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 $2,182.81 Bridged Ether (StarkGate) 1.46% Market capitalization $41.05 million VOL. 24 hours $0.67 billion dropped by 7% to $ 3,100, and the tokens XRP $1.43 XRP 0.91% Market capitalization $87.79 billion VOL. 24 hours $0.16 billion , ADA $0.27 Binance-Peg Cardano 3.81% Market capitalization $0.12 billion VOL. 24 hours $29.89 million , Solana SOL $92.64 Binance-Peg SOL 1.29% Market capitalization $0.1 billion VOL. 24 hours $0.3 billion and Dogecoin DOGE $0.10 Binance-Peg Dogecoin 3.42% Market capitalization $0.25 billion VOL. 24 hours $75.03 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.