Bitcoin dropped over 3% on Monday to about $61.86K as leveraged liquidations and rising Middle East tensions pushed traders out of positions. Trading volume jumped roughly 50%, and the sell-off spread across Ethereum, XRP, and major crypto stocks.
Bitcoin fell over 3% to about $61.86K on Monday, wiping out recent gains for bullish traders. Its 24-hour trading volume climbed roughly 50% to about $27.47B as the drop unfolded.
That higher turnover came as traders reacted to the slide, closing positions and reducing leveraged exposure. The move was driven by heavy liquidations and rising Middle East tensions, according to Seeking Alpha.
The pressure was not confined to Bitcoin. The decline spread to Ethereum, XRP, Binance, and Solana, along with major crypto-related equities such as Coinbase and Marathon.
Yet the report points to a possible offset ahead. Progress on the CLARITY Act and the US regulatory focus could support market sentiment and act as a potential positive catalyst, according to Seeking Alpha.
Source: Seeking Alpha (snippet-based)
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