Bitcoin Below $83K as QNT and HBAR Defy Broader Selloff
Bitcoin dipped below $83,000 on Monday as the momentum from Friday's altcoin rally reversed and a broad selloff swept across most of the market. The pullback wiped out roughly $70 billion in crypto capitalization, underscoring how quickly risk-on sentiment can turn into risk-off pressure. Total crypto capitalization now sits at around $2.93 trillion.
QNT and HBAR bucked the trend as they resisted the selloff, with Quant trading at around $231.35 after an explosive weekend advance and Hedera standing near $0.1155 with strong 24-hour gains. Their resilience stands in stark contrast to the broader unwind, where Friday's biggest winners turned into Monday's hardest-hit assets.
The weakness confirms that the latest correction is broad rather than isolated to Bitcoin, which slipped roughly 2% over 24 hours after failing to hold the $85,000 area. Derivatives data point to position closures rather than a large wave of new bearish leverage, with market-wide trading volume jumping about 70% to $172 billion and open interest falling 3% to $150 billion.