Bitcoin was trading at $77,925.99 at 08:37 a.m. ET on Monday, according to CoinMetrics, up about 1%. Bitcoin fell as low as $74,876 but later pared some of the losses. The digital coin has fallen about 12% in the last seven days, wiping off more than $200 billion in value from the bitcoin market, CoinMarketCap data shows.
Bitcoin was slightly higher on Monday after the world's biggest cryptocurrency fell below $80,000 for the first time since April 2025.
The price of bitcoin over the last year.
Dessislava Ianeva, research analyst at crypto exchange Nexo, told CNBC that bitcoin's drawdown "coincided with a broader risk-off shift across global markets" and "was amplified by structurally thin weekend liquidity, rather than by crypto-specific developments or signs of fundamental stress."
Bitcoin often correlates with risk assets like stocks and may fall and rise with them. U.S. stocks fell on Friday, led by tech names such as Microsoft , which fell 10% after its earnings disappointed investors.
That negativity filtered through to European and Asian stock markets on Monday.
Gold and silver extended losses on Monday. On Friday, silver fell 30%, its worst day since March 1980.
Bitcoin's plunge was worsened by forced liquidations, when traders' positions are automatically sold as it hits a certain price. More than $2 billion of bitcoin long and short positions have been liquidated since Thursday, according to data from Coinglass.
Liquidations can have a cascading effect on crypto markets, where the price can move quickly to the downside as traders' positions are closed out.
Investors are also assessing the potential impact of Kevin Warsh, who will succeed Jerome Powell as Federal Reserve chair.
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