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The cryptocurrency market started the week with a significant drop. The price of bitcoin BTC $77,653.79 Bitcoin -2.70% Market capitalization $1.56 trillion VOL. 24 hours $1.32 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 $2,439.07 Ethereum -2.17% Market capitalization $294.35 billion VOL. 24 hours $0.81 billion dropped by 7% to $ 3,100, and the tokens XRP $1.39 XRP -2.64% Market capitalization $87 billion VOL. 24 hours $0.19 billion , ADA $0.20 Cardano -4.09% Market capitalization $7.56 billion VOL. 24 hours $23.03 million , Solana SOL $103.85 Solana -3.19% Market capitalization $60.67 billion VOL. 24 hours $0.42 billion and Dogecoin DOGE $0.09 Dogecoin -3.24% Market capitalization $13.25 billion VOL. 24 hours $54.62 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.