On Monday, Bitcoin experienced a significant decrease in value, closing the day at approximately $90,900, resulting in a drop of nearly 5% within the last 24 hours. Ether, on the other hand, saw a decrease to around $2,450, down almost 10%. The global market value of cryptocurrencies decreased by 6.18% over the past day.
At the time of this publication, the price of BTC was attempting to recover at $92,457.00, down 3.5% within the last 24 hours and down 11% for the month.
In this article, we will discuss:
Why is bitcoin falling today?
This decline can be attributed to several factors, including the devaluation of memecoins and technical issues such as token unlocking and adjustments to the coin’s inflation, which increased by 30% after the implementation of SIMD-96.
This negative trend is occurring in a broader context where major stock exchanges in the United States are also facing challenges. Following a week of unfavorable results, there was a frustrated attempt at recovery in the stock indexes, with the Nasdaq ending the day with a 1.2% decrease and the S&P 500 falling by 0.5%.
U.S. futures markets remained stagnant on Monday after failing to recover from significant losses from the previous week. This stagnation coincided with recent statements from President Donald Trump regarding future tariffs.
Investors are eagerly awaiting the release of fresh U.S. consumer confidence data, which is scheduled for 10 a.m. ET on Tuesday. Last week’s figures from the University of Michigan were one of the contributing factors to the sharp drop in prices on Friday.
Alts bleed today
Most alternative cryptocurrencies (altcoins) have experienced losses in the past 24 hours as Bitcoin’s dominance in the market increases.
Among the top 10 cryptocurrencies, Solana suffered the most significant decline, with a dramatic drop of almost 15% in a single day and a concerning 45% decrease over the last month. Cryptocurrencies LDO, TRUMP, SUI, BONK, WLD, and PEPE all fell by more than 15%.