Crypto Market Weakens Amid Renewed Risk-Averse Sentiment

The cryptocurrency market remains weak on Monday, with Bitcoin (BTC) falling toward the nearest $62,000. Ethereum (ETH) and Ripple (XRP) reflect the sell-off across altcoins, edging lower toward $1,800 and $1.05, respectively.

Ripple's technical outlook continues to deteriorate, pressured by declining retail participation. The token's price has maintained its position within a broader bearish trend, trading at $1.06 on Monday.

Bitcoin futures have also experienced a significant decline, consistently underperforming plain-vanilla U.S. Treasuries every month since February. Once a goldmine for carry traders, Bitcoin futures have flipped, with their yield now less than that of Treasury notes.