Bitcoin ($BTC), Ethereum (ETH), and altcoins started the new week with declines.
At this point, Bitcoin’s decline deepened, falling below $65,000.
According to CoinMarketCap data, Bitcoin is trading at $64,780, down 4.6% in the last 24 hours.
Ethereum, meanwhile, is trading at $1,860, having fallen by 5.5% in the last 24 hours.
Other altcoins were also negatively affected by the decline. XRP fell by 5.9%, BNB by 5.7%, and Solana (SOL) by 8.3%.
The declines are once again attributed to the US and President Donald Trump. The US Supreme Court overturned Trump’s tariffs on Friday. However, Trump subsequently imposed new tariffs for the entire world, raising the 10% tariff to 15%. These tariff changes once again caused panic among cryptocurrency investors, leading to declines.
Glassnode and CryptoQuant analysts say on-chain data suggests the worst of the panic may be over, but the overall structure remains under pressure.
At this point, according to analysts, whether the $65,000 level will act as short-term support or whether the limited base formation in a long-term range will continue will be a turning point determining future trends.
According to Coinglass data, $459.1 million worth of leveraged trades were liquidated in the last 24 hours. Of this amount, $429.2 million was from long positions and $29.9 million was from short positions.
In the last 24 hours, 135,513 traders were liquidated, with the largest liquidation occurring on HTX in the $BTC/USDT trading pair.
*This is not investment advice.
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