Bitcoin Slips to $65k as Altcoins Dump Harder

TL;DR

• Bitcoin has dropped to the $65k level once again after a poor start to the week.

• Altcoins dumped harder, with the total crypto market cap dropping below $2.4 trillion.

BTC Slips Below $66k

The cryptocurrency market is having a poor start to the week after Bitcoin and other major altcoins recorded huge losses on Monday.

BTC, the world’s largest cryptocurrency by market cap, lost 1% of its value on Monday and is now trading at $65,545. Over the last seven days, BTC has lost more than 3% of its value. 

There is no catalyst behind this latest price decline as the broader crypto market embarks on a correction. Altcoins suffered heavier losses, with some major altcoins losing more than 10% of their values over the last 24 hours.

Ether, the second-largest cryptocurrency by market cap, lost 3% of its value on Monday and is now trading below $3,500 per coin. Dogecoin is the worst performer amongst the top 10 cryptocurrencies by market cap, losing 10% of its value. 

Meanwhile, Solana and Cardano lost 7% of their values on Monday. With BTC and altcoins underperforming, the total crypto market cap now stands at $2.36 trillion, down by 2%.