Bitcoin’s market value fell sharply on Monday, slipping to approximately $108,000 amid widespread selloffs driven by retail traders concerned about ongoing macroeconomic uncertainties and regulatory jitters in the U.S.
The global crypto market shed about 0.8% in total value, underscoring a mild but impactful wave of profit-taking by smaller investors. Early in the day, BTCUSD hovered near $109,000, within striking distance of its all-time high, before retreating due to renewed volatility.
Market analysts noted that larger investors, known as whales, are also contributing to the recent downturn. A report from 10x Research indicated that roughly 500,000 BTC—valued at over $50 billion—has exited long-term holding wallets over the past year. This move reflects a major cash-out phase by early adopters who are now reaping profits.
Ethereum (ETHUSD) was not spared either. The second-largest cryptocurrency dropped to around $2,529 after peaking at $2,598 earlier in the day. The day began with ETH trading near $2,535 before witnessing a brief spike, only to settle into a narrow trading band between $2,565 and $2,585. Notably, higher lows observed in recent candles at $2,506, $2,512, $2,540, and $2,560 suggest consistent buy-side support on dips.
A surge in volume was recorded on Sunday night when Ethereum climbed $50 within an hour, signaling strong interest. However, the market appears to be consolidating post-spike, awaiting the next trigger.
The broader crypto market has seen its valuation dip to around $3.33 trillion. Bitcoin’s value is down by 0.7%, Ethereum by 0.6%, and other top tokens like Tether and BNBUSD are trading in the red. Solana (SOLUSD) also faced downward pressure as sellers continued to dominate across exchanges.
Despite the mild pullback, market observers believe this could be a temporary correction, especially if institutional demand resumes and regulatory clarity improves.
