In short
- Macroeconomic uncertainties have made investors nervous.
- Over the past 24 hours, liquidations have risen above $900 million, including more than $550 million in longs.
- The major stock indices ended in negative territory.
Bitcoin and other major cryptocurrencies extended their losses late Monday amid a broader decline in risk assets as investors worried about macroeconomic uncertainties, including new concerns about U.S. interest rates and big tech companies’ spending on artificial intelligence initiatives.
Bitcoin recently traded at around $92,200, down 2.3% in the past 24 hours, and at its lowest level since late April, according to crypto markets data provider CoinGecko.
The largest cryptocurrency by market capitalization has fallen more than 14% in the past two weeksdelete all its profits in 2025.
“The current decline in digital assets reflects a broader risk-off rotation, driven by a convergence of macro headwinds,” Juan Leon, senior investment strategist at asset manager Bitwise, told me. Declutter in an email. ‘The market is processing a recalibration of liquidity expectations, driven by a lower probability of a December month [interest rate] interest rate reduction. This sentiment is exacerbated by the risk contagion resulting from the correction in the AI sector spreading across all risky assets.”
Fears over prices, the US trade war, missing data from October’s jobs and inflation reports and the collapsing US economy have plagued markets in recent weeks, recently casting doubt on the prospects of a rate cut that would benefit markets looking for extra liquidity.
On Monday, investors also reflected on the commitment of major companies such as Google and Microsoft to AI projects that could weigh on their balance sheets in the short term.
Ethereum, the second-largest cryptocurrency by market value, changed hands for about $3,000, also down 2% since Sunday. Ethereum at one point fell to $2,960, its lowest level in four months. Solana, Dogecoin and XRP fell 4.4%, 3.7% and 2% respectively.
The tech-focused Nasdaq and S&P 500 both closed down about a percentage point, continuing their recent declines.
Crypto-focused stocks were overtaken by the recession, with exchange giant Coinbase plummeting more than 7%.
Meanwhile, investors liquidated more than $900 million in positions in the past 24 hours, including more than $550 million in longs, Coinglass data shows.
“Some whales and miners sold on strength, and once the price broke through key levels, leveraged longs began to be liquidated in the derivatives markets, accelerating the price decline,” Maja Vujinovic, CEO of Ethereum Treasury told FG Nexus. Declutter.
“This is more of a short-term risk reduction and position reset rather than a structural change in the position,” she added.
A countless prediction market shows that 60% of respondents expect Ethereum to dip lower to $2,500 instead of $4,000, a reversal of last week’s trend lines that reflects growing pessimism about crypto markets.
Myriad is owned by Decrypt’s parent company Dastan.
But in a message to DeclutterStephane Ouellette, CEO and co-founder of crypto-focused services firm FRNT Financial, was optimistic, saying Bitcoin has only been “roughly around the uptrend line since the rally that started in October 2024.”
“The correction can be described as ‘normal course’ at this point,” he said. “It would also be normal to see a sharp decline and a rapid recovery, as is typical for crypto markets.”
“Our models continue to suggest that we are approximately halfway through the market cycle and have yet to see the extreme levels and volumes that typified price cycle tops in both 2017 and 2021,” he added.
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