Crypto Markets Experience Sharp Decline in Value

Crypto markets experienced a sharp decline in value on Monday, with Bitcoin and Ethereum leading the downturn.

The two largest cryptocurrencies by market capitalization fell significantly, with Bitcoin dropping from above $67,000 to around $64,000. This represents one of its steepest single-day declines in recent weeks.

Ethereum mirrored Bitcoin's move, sliding from around $1,940 to near $1,850 over the same period. The parallel declines underscore how tightly correlated the two largest cryptocurrencies remain during periods of stress.

The synchronized sell-off across Bitcoin and Ethereum points to position unwinding and cautious sentiment, rather than a single trigger or reaction to fresh headlines. This suggests that traders are reducing exposure across the board, a hallmark of risk-off behaviour.

The charts show no immediate signs of panic-driven capitulation, with volume expanding during the sell-off but price action since compressing. This indicates that the market is digesting losses rather than cascading lower.

In the near term, traders will be watching whether Bitcoin can hold the $64,000 zone, which now acts as a key short-term support area. For Ethereum, attention is on whether prices can reclaim the $1,900 level, which previously provided intraday stability.