Bitcoin Slips to $76k, Ether Breaks Below $1,800 as Traders Eye $70k

TL;DR

• BTC crashed to the $76k region on Monday, with the stock market also recording huge losses.

• Ether lost 10% of its value to dip below $1,800.

BTC Dips to $76k as Traders Eye Further Crash

The cryptocurrency market continued its recent bearish performance, with Bitcoin and other major altcoins recording huge losses. Bitcoin lost roughly 4% of its value to touch the $76k level for the first time since November 2024. 

At press time, Bitcoin has slightly recovered to now trade at $79,798 but traders expect further bearish conditions. Traders are eyeing the $70k region as the stock markets also suffered huge losses.

With the crypto and stock markets bearish, investors are turning to safe haven assets. Japan’s twenty-year government bond yield has surged to its highest level since 2008. The surge in Japanese bond yields and potential rate hikes by the Bank of Japan has seen traders become less optimistic about Bitcoin’s rebound in the near term.

Traders expect BTC to trade at the $70k level soon. The ongoing tariff trade war and the Federal Reserve’s cautious stance on interest rate cuts in 2025 also negatively affect Bitcoin and the broader crypto market. 

Altcoins’ performances are currently poor compared to Bitcoin. Ether, the leading altcoin by market cap, lost 10% of its value on Monday to drop below $1,800, its lowest level since October 2023. 

Dogecoin also lost 10% of its value on Monday while BNB, XRP, Cardano, and Solana are all down roughly 5% each in the last 24 hours. The total crypto market cap currently stands at $2.59 trillion, down 4%.