Bitcoin Loses Strength as DOGE Falls 10%, BTC Falls Below $115
- Bitcoin Retreats After Technical Rejections
- DOGE plummets almost 10%
- Altcoins face intense selling pressure
Bitcoin (BTC) price underwent a significant correction on Monday, falling below $115.000 after unsuccessfully trying to break resistance above $116.000. BTC started the day trading near $114.994, down nearly 1%, but fell as low as $114.600.
This week will be marked by the US central bank's meeting on Wednesday, in which the Fed may cut interest rates for the first time in more than two years.
BTC's market cap has fallen to less than $2,29 trillion, even as its dominance over other cryptocurrencies has risen to around 56%, with altcoins suffering greater losses.
Dogecoin (DOGE) was one of the hardest hit. After a strong weekend rally, the token fell nearly 10%, trading below $0,26—reinforcing the prevailing negative tone.
Other altcoins also saw significant declines. Solana (SOL), Cardano (ADA), and SUI each lost approximately 5–6%. Chainlink (LINK) and Avalanche (AVAX) also fell around 5%. Ethereum (ETH), meanwhile, fell from around $4.750 to near $4.500, with a daily decline of around 3%. XRP broke through key support levels after a 3,5% drop.
Amid this movement, Monero (XMR) appears as an exception among the major altcoins, up approximately 8%, trading close to US$310.
In the broader market, the total value of cryptocurrencies lost about $80 billion in the last 24 hours, falling to just above $4,09 trillion. This massive decline indicates strong pressure on liquidity and confidence in the short term, with investors reacting to technical resistance, macroeconomic concerns, and signs of profit-taking.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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