The crypto markets experienced a sharp correction early Monday, with Bitcoin ($BTC ) tumbling below the $60,000 threshold for the first time in over two months. At press time, $BTC is trading at $58,750, down 6.2% in the last 24 hours, as fears of regulatory pressure and macroeconomic uncertainty shake investor confidence.

Ethereum ($ETH ) followed suit, falling to $2,860 — a 7.1% decline, while altcoins like Solana (SOL), Avalanche (AVAX), and Cardano (ADA) posted double-digit losses. The overall crypto market cap dropped below $2 trillion, shedding over $130 billion in value overnight.