Bitcoin Plummets Below $83K as Most Altcoins Follow Suit, Except for QNT and HBAR

The cryptocurrency market saw a significant decline on Monday morning, with Bitcoin (BTC) losing over two thousand dollars to fall below $83,000. The asset had been trading in a confined range between $83,000 and $85,000 for the past few days but was rejected at $85,000, leading to a drop to $82,600 as of press time.

The total market capitalization has lost over $70 billion in a day, with many altcoins following suit. However, Quant (QNT) and HBAR are among the few exceptions, defying the trend with major gains. QNT is up by over 20% and sits above $220, while HBAR surged by 18% to $207.

On the other hand, RAY, UNI, ARB, VVV, DASH, AERO, and BCH have plummeted by double digits. The weekend developments, including the latest news on the Middle East war, seem to have taken a toll on the market, with BTC feeling the consequences of higher oil prices.