#bitcoin #DOGE #MarketPullback

Bitcoin Crashes by $7K

Bitcoin’s calm weekend took a sharp turn on Monday as the leading cryptocurrency plummeted by $7,000 within just an hour, sparking a broader market downturn.

The drop follows last Monday’s similar volatility when BTC briefly fell below $100,000 before rebounding to a new all-time high of over $109,000. Throughout the past week, BTC remained highly volatile, with price swings occurring during and after Donald Trump’s inauguration. Notably, the lack of any mention of cryptocurrency in his speech led to a temporary correction, though BTC managed to hold above the $100,000 mark.

Over the weekend, Bitcoin stabilized around $105,000 before the Monday Asian trading session triggered a sharp decline. The cryptocurrency briefly dipped below $98,000, causing millions in liquidations. Although BTC has since recovered to $99,000, it remains 5% down on the day, with its market capitalization shrinking to $1.96 trillion. However, Bitcoin’s dominance over altcoins has risen to over 56% as alternative cryptocurrencies suffered even greater losses.

Altcoins Suffer Heavy Losses

As Bitcoin tumbled, altcoins were hit even harder. Ethereum led the downturn with a 7% drop, bringing its price below $3,100. XRP lost the $3 threshold, falling to $2.80. Other major altcoins, including Solana, Dogecoin, Cardano, Chainlink, Avalanche, Stellar, and SUI, have all recorded double-digit losses.

Even steeper declines—up to 20%—have affected VIRTUAL, XCN, SOS, RAY, PEPE, OP, BONK, and several other smaller-cap assets.

The total market capitalization of all cryptocurrencies has lost over $250 billion in the past 24 hours, dropping to a multi-week low of

$3.5 trillion.

Disclaimer

The information provided in this article is for informational and educational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and prices can fluctuate significantly. Always conduct your own research and consult with a professional financial advisor before making any investment decisions. The author and publisher are not responsible for any financial losses incurred based on the information provided.