Bitcoin and other major cryptocurrencies tumbled on Monday as a renewed sell-off swept through digital asset markets, dragged down by regulatory pressure in Asia and fading risk appetite.
Bitcoin dropped nearly 6 percent to around US$85,959 by 8:11 a.m. ET, while ethereum slid 6.6 percent to about US$2,827. Solana fell more than 7 percent to roughly US$127, and other widely traded tokens also retreated, including dogecoin, which was down around 9 percent.
Sentiment took a further hit in Asia after the People’s Bank of China warned on Saturday about illegal activities linked to digital currencies. The remarks pushed Hong Kong-listed crypto-related stocks lower during Monday’s session.
The latest downturn extends last week’s declines, underscoring the market’s vulnerability to regulatory signals and lingering concerns over liquidity and macroeconomic uncertainty.
