Hassan Maishera
TL;DR
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BTC added 1% to its value on Monday to hit the $88k level despite a broader sell-off in the stock market.
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Altcoins are also underperforming, with most of them down 2% or more.
BTC Climbs Above $88k Despite Market Sell-off
The cryptocurrency market experienced a mixed performance on Monday, with Bitcoin rallying while altcoins underperformed. Bitcoin, the number one cryptocurrency by market cap, added 1% to its value on Monday to climb to the $88,700 region. However, it has slightly retraced and now trades at $88,100 per coin.
The positive performance comes amid a broader sell-off in the stock and crypto markets. The stock market saw $1.5 trillion wiped out on Monday as President Trump renewed attacks on Fed Chair Jerome Powell, calling for urgent rate cuts amid claims of declining inflation.
JUST IN: $1.5 trillion wiped out from the US stock market today.
— Watcher.Guru (@WatcherGuru) April 21, 2025
$60 billion was added to the crypto market. pic.twitter.com/9IezvommN1
Altcoins also suffered losses despite Bitcoin’s positive performance. Ether, the second-largest cryptocurrency by market cap, lost 4% of its value and now trades below $1,600.
XRP and Solana (SOL) are both down 1% in the last 24 hours, while Cardano’s ADA also lost 2.5% of its value. BNB and Dogecoin are down less than 1%, with other major altcoins also in the red.
Despite the market sell-off, the total cryptocurrency market cap dropped to $2.74 trillion, down 0.15% in the last 24 hours.
