Crypto Markets Lose $80 Billion as Bitcoin (BTC) Dumps to $63K: Market Watch

After rallying on Monday to a multi-day peak following the weekend de-escalation on the war front, bitcoin was violently rejected and driven south by almost three grand in hours.

Most altcoins have joined the painful ride, including ETH, which has dropped below $1,900, and HYPE, which has lost the most value out of the larger caps.

BTC Rejected

The primary cryptocurrency had a good run last week, in which it rocketed from $63,750 to a monthly peak of $67,000 in the span of 36 hours. However, it couldn’t breach that line and dipped to $64,750 on Wednesday and all the way down to its starting point at $63,750 on Friday.

The bulls intervened after this decline and helped it recover some ground to $64,000 during the weekend, when it finally calmed. The impact of the de-escalation news on the Middle Eastern attacks was expected to be felt on Monday, and it didn’t disappoint. Bitcoin jumped to $65,600 on a couple of occasions for the first time since Friday.

However, it was rejected once again, and the subsequent ride south was quite brutal. As reported earlier today, BTC slumped to $63,000 for the first time in 10 days, leaving roughly $700 million in liquidations.

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