Bitcoin slid sharply on Monday, falling below 86,000 dollars as weakness across the cryptocurrency market persisted. The decline extended recent losses and pushed major digital assets lower amid cautious investor sentiment.
According to CoinDesk, Bitcoin dropped more than 7 percent intraday, breaking below a key psychological level during U.S. trading hours. Ethereum followed the move, slipping under 3,000 dollars for the first time in weeks, while other large-cap tokens also posted notable declines.
Market participants pointed to a combination of technical selling and macroeconomic pressure. Analysts cited reduced expectations for near-term U.S. interest rate cuts and continued strength in the dollar as factors weighing on risk assets, including cryptocurrencies.
Liquidations accelerated as prices fell, amplifying the move lower. Data tracked by CoinDesk showed that leveraged long positions were heavily unwound, adding to short-term volatility across Bitcoin and Ethereum derivatives markets.
Broader Risk-Off Mood Hits Crypto
The downturn in digital assets mirrored weakness in global equity markets, where investors have turned more defensive ahead of central bank decisions later this month. Crypto-related stocks, including U.S.-listed exchanges and mining firms, also traded lower in tandem with token prices.
Despite the sell-off, some analysts argue that the move reflects short-term positioning rather than a fundamental shift in the long-term outlook. Others warned that a sustained break below recent support levels could open the door to further downside if macro conditions remain unfavorable.
Bitcoin and Ethereum were both trading near session lows at the time of publication, with traders watching for signs of stabilization or renewed selling pressure in the days ahead.