Bitcoin near 10-month low

The world’s largest cryptocurrency was last down 2.3% at $77,133.4, after sliding to as low as $75,766.8 – levels last seen nearly ten months ago

Bitcoin traded near its lowest level since April on Monday after a sharp sell-off over the weekend pushed prices down to around the $75,000 mark, as heavy liquidations in leveraged positions and growing macro uncertainty weighed on sentiment.

The world’s largest cryptocurrency was last down 2.3% at $77,133.4 by 02:25 GMT, after sliding to as low as $75,766.8 – levels last seen nearly ten months ago.

Bitcoin is a little short of reaching a 15-month low near $70,000 amid continued selling pressure.

The downturn triggered widespread damage across the digital asset market. Nearly $111 billion was wiped off the total crypto market capitalisation in the past 24 hours, according to data from CoinGecko, underscoring the scale of the rout.

About $1.6 billion in leveraged positions were liquidated, data from Coinglass showed, as falling prices forced traders to unwind bullish bets at a rapid pace.

Thinning liquidity, particularly during weekend sessions, exacerbated the sell-off. As prices dropped through key thresholds, stop-loss orders and margin calls accelerated declines, creating a feedback loop that amplified volatility across major tokens.

Bitcoin’s decline has also been linked to broader risk-off sentiment in global markets, following renewed focus on U.S. monetary policy.

U.S. President Donald Trump has nominated Kevin Warsh as the next central bank chair, a move that prompted a reassessment of the outlook for interest rates and liquidity conditions.

Warsh, a former central bank governor, is widely viewed as having a hawkish bias, particularly on inflation control and balance-sheet discipline.

Warsh’s past criticism of QE and the bank’s use of its balance sheet to enhance monetary policy transmission triggered an immediate unwind in trades that had benefitted from currency debasement concerns, including bitcoin and other crypto tokens, said David Scutt, market analyst at StoneX Group.

Bitcoin has dropped sharply from record highs hit last year, erasing a significant portion of gains that were fuelled by optimism over institutional adoption and looser financial conditions.