Crypto Markets Plummet $80 Billion as Bitcoin Dumps to $63K

Crypto markets have suffered a significant drop in value, losing $80 billion in just one day. The largest cryptocurrency, Bitcoin (BTC), has plummeted to $63,000 after being rejected at its peak of $65,600 on Monday.

This comes after the weekend's de-escalation news on the Middle Eastern attacks had a positive impact on markets, with BTC reaching new heights and altcoins following suit. However, this rally was short-lived as BTC dropped to its starting point at $63,750 on Friday before recovering some ground over the weekend.

The largest loser among altcoins is BEAT, which has plummeted 25% in value, followed closely by NEAR (-10%), SHIB (-9%), and PI (-9%). The cumulative market cap of all crypto assets has dropped from $2.330 trillion to $2.250 trillion.