On Monday, Bitcoin experienced another significant decline, with a closing price of approximately $90,900, representing a drop of nearly 5% in the past 24 hours. Ether, on the other hand, fell close to $2,450, down almost 10%. The global cryptocurrency market value decreased by 6.18% in the last day.
At the time of writing, the price of BTC was attempting a recovery at $92,457.00, down 3.5% in the past 24 hours and down 11% for the month.
In this article, we will address the following topics:
1. Why is bitcoin falling today?
This decline can be attributed to both the increasing devaluation of memecoins and technical issues such as token unlocking and adjustments to the coin’s inflation, which rose by 30% after the implementation of SIMD-96.
This negative movement is occurring in a context where the main stock exchanges in the United States are also facing difficulties. 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 drop of 1.2% and the S&P 500 falling 0.5%.
U.S. futures markets remained stagnant on Monday after failing to recover from significant losses in the previous week. This stagnation came amid recent statements from President Donald Trump regarding future tariffs.
Investors are eagerly awaiting fresh U.S. consumer confidence data, which will be released at 10 a.m. ET on Tuesday. Last week’s figures from the University of Michigan were one of the triggers for Friday’s sharp drop.
Alts bleed today
Most altcoins have experienced losses in the past 24 hours as BTC dominance increases.
Among the top 10, Solana was one of the cryptocurrencies that suffered the most, with a significant drop of almost 15% in a single day and a concerning 45% drop in the last month. Cryptocurrencies LDO, TRUMP, SUI, BONK, WLD, and PEPE all fell by more than 15%.