TL;DR:
- Bitcoin fell from above $64,300 at the weekly close to around $63,100, briefly touching $62,400 before rebounding above $63,000 on Monday.
- Renewed U.S.-Iran hostilities, equity weakness and profit-taking hit sentiment, while XRP broke below $1.10 and ETH failed at $1,800.
- Coinglass data showed $253 million in 24-hour liquidations, mostly longs, while BTC open interest stayed near $17 billion and market capitalization fell below $2.240 trillion as dominance increased to 56.7%.
Crypto opened Monday with a shockwave after a bullish weekend lost momentum into Asian and European trading. Bitcoin fell from above $64,300 at the weekly close to around $63,100, and at one point slipped to $62,400 before recovering just above $63,000. The move followed renewed U.S.-Iran hostilities around the Strait of Hormuz and fresh profit-taking after last week’s rally. That tension made a modest percentage decline feel larger than the headline move for late buyers overnight. Bitcoin’s pullback was not isolated, because equity weakness, geopolitical tension and leveraged positioning all converged at the same moment.
Macro pressure turns a weekend rally into a Monday test
The broader market reaction showed how quickly risk appetite changed. South Korea’s Kospi lost 9.2%, SK Hynix fell 15%, and Japan’s Nikkei plus China’s SSE each dropped more than 2%. U.S. futures also pointed lower, with Nasdaq 100 futures down 0.9% and S&P 500 futures off 0.25% since midnight. Crypto had held relatively well over the weekend, but Monday’s reversal made the contrast harder to ignore as sellers tested optimism across several major markets at once. The market shifted from relief to defense, and Bitcoin’s failure to hold $64,000 kept traders focused on downside liquidity.
Altcoins absorbed the sharper pain. XRP broke below the key $1.10 area, touching a multi-day low near $1.07 before rebounding slightly, while ETH failed at $1,800. Lighter dropped 8% in its first major pullback after a 200% two-month rally, and Hyperliquid fell around 3.3% to $65.1. PI kept sliding to new lows near $0.086, down more than 97% from its prior peak, while APX fell over 25%. The weakness spread unevenly across tokens, even as FET and NEAR gained about 1.5% against the market during a selective risk reset across the board on Monday.
Derivatives data made the selloff look serious, but not fully disorderly. Coinglass data showed $253 million in 24-hour liquidations, split 76-24 toward longs, with BTC and ETH leading at $70 million and $60 million. Bitcoin open interest stayed near $17 billion, the three-month annualized basis held at 3.8%, and options positioning still favored calls by 64-36. The total crypto market cap lost over $20 billion and sat below $2.240 trillion, while BTC dominance rose to 56.7%. The message is caution, not capitulation, as traders watch whether $62,000 becomes the next liquidation magnet in a nervous tape.
