Bitcoin traded in the $65,000 area through most of the day as 24?hour volume increased 92%. Ethereum continued to face strong resistance around the $1,915, while XRP edged higher.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 3.13% and 5.99%, respectively.
More than $245 million in cryptocurrency positions were liquidated over the past 24 hours, with bearish shorts taking the heaviest losses, according to Coinglass data.
Bitcoin's open interest rose 2.20% over the last 24 hours. Retail derivatives traders on Binance turned neutral on the flagship cryptocurrency, while whales stayed bullish.
"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
The global cryptocurrency market capitalization stood at $2.30 trillion, representing a 0.66% increase over the last 24 hours.
Read Also:XRP Has Held a Top 10 Spot for 13 Straight Years: Is $6 the Next Stop?
Stocks closed in the red on Monday. The Dow Jones Industrial Average slid 307.16 points, or 0.59%, to close at 51,839.26. The S&P 500 declined 0.19% to close at 7,443.28, while the tech-heavy Nasdaq Composite fell 0.05% to end at 25,508.07.
The U.S. military said it initiated a new round of strikes against Iran even as President Donald Trump said via his Truth Social that Iran would pay for the deaths of American soldiers "many times over."
This development comes after Iranian Foreign Minister Seyed Abbas Araghchi said that the U.S. would lift its naval blockade of the Strait of Hormuz and begin releasing frozen Iranian assets.