Bitcoin continued to decline sharply on Sunday, falling to a six-month low around $93,000 before making a small rebound to $95,000 on Monday. The drop extended a three-day decline that has wiped over $10,000 off its value, signaling consistent selling pressure and a clear shift in market structure.
BTC previously surged to $107,000 on positive developments out of the US, but that momentum has been fading. The deep fall began when BTC fell to $102,000, before falling to $94,000 on Friday, its biggest drop since May.
Altcoins also suffered heavy losses, with Ethereum falling to $3,100 and many major tokens including SOL, DOGE, ADA and LINK down between 1% and 9%. Some tokens such as UNI and ENA saw small gains but not enough to offset the overall market weakness.
The overall crypto market continues to lose capital, with the global market cap shedding another $40 billion in the past 24 hours. Bitcoin’s dominance remains at 57.2%, indicating investors are becoming increasingly wary of altcoins.
Market watchers say BTC may now be entering a new bear market phase, following a series of aggressive declines, increased volatility, and the asset’s failure to maintain key psychological levels such as $100,000.
