Bitcoin fell below $63,000 on Monday morning as renewed Middle East hostilities triggered a market-wide sell-off. The leading cryptocurrency dropped nearly $2,000 from weekend levels, with XRP slipping below the $1.10 support and Ethereum failing to hold $1,800. Pi Network’s token hit a new all-time low at $0.086, while APX plunged over 25%. The total crypto market capitalization shed $20 billion in the past 24 hours, now sitting below $2.240 trillion.
Bitcoin’s price dipped to $62,400 on Monday morning as the market priced in the new attacks in the Middle East. The cryptocurrency has since rebounded to just over $63,000, but its market cap has dropped to $1.265 trillion.
Bitcoin had reacted well to the July 1 dip below $58,000, quickly reclaiming $60,000 and climbing to $64,000 on July 6. Strategy’s latest and biggest sale triggered a major leg down to $61,200, though the asset rebounded to $64,400 after the initial fear subsided.
Another rejection followed after the US and Iran broke their ceasefire and launched new rockets against each other. Bitcoin halted its free-fall at $61,600 and went on a minor rally, culminating in a Saturday surge to $64,600 — a new multi-week peak.
Bitcoin stood near $64,000 for most of the weekend before the Monday dip. Its dominance over altcoins has increased slightly to 56.7%.
Pi Network’s native token marked consecutive all-time lows, nosediving to $0.086 hours ago. The asset is down by over 97% since its all-time high last year.
APX is the other big loser today, dropping by over 25%. In contrast, BEAT gained 20% while DEXE doubled down on its recent rally.
Ethereum failed at $1,800, and BNB is back to $570. XRP dipped to a multi-day low at $1.07 before a slight rebound. HYPE, RAIN, DOGE, ZEC, and XLM are also slightly in the red, while SOL and XMR show insignificant gains.
