Cryptocurrency Market Dives as Top Assets See Sharp Price Declines

The cryptocurrency market took a significant hit on Monday, with several top assets experiencing sharp price declines.

Bitcoin led the way, falling 5% to $64,350 and erasing all recent gains. Ethereum, XRP, BNB, SOL, DOGE, Cardano (ADA), and other major cryptocurrencies also dropped between 6-10% in a matter of hours.

The sharp price drop has sent shockwaves through the market, with many investors left wondering what caused such a sudden downturn.

The Crypto Fear & Greed Index, which measures market sentiment, has fallen back into bearish territory, indicating a shift towards more cautious investing. This sudden change in market direction raises questions about the future stability of cryptocurrency prices and whether this is an isolated incident or part of a larger trend.