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