The main crypto assets fell sharply

The cryptocurrency market started the week with a significant drop. The price of bitcoin BTC $118,005.31 Bitcoin 0.34% Market capitalization $2.35 trillion VOL. 24 hours $1.52 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 $2,974.10 Bridged Ether (StarkGate) -0.38% Market capitalization $83.91 million VOL. 24 hours $1.66 billion dropped by 7% to $ 3,100, and the tokens XRP $2.84 XRP 8.87% Market capitalization $168.08 billion VOL. 24 hours $1.76 billion , ADA $0.73 Cardano 1.18% Market capitalization $26.39 billion VOL. 24 hours $0.26 billion , Solana SOL $162.66 Binance-Peg SOL -0.67% Market capitalization $0.18 billion VOL. 24 hours $0.56 billion and Dogecoin DOGE $0.20 Binance-Peg Dogecoin 1.68% Market capitalization $0.52 billion VOL. 24 hours $0.43 billion 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.