Crypto Market Turns Somber as Bitcoin and Ether Drop as Much as 3%

The crypto market has turned somber, with major cryptocurrencies such as bitcoin (BTC), ether (ETH), solana (SOL), Binance coin (BNB) and chainlink (LINK) trading as much as 3% lower, amid frustration over the slow progress on the creation of a U.S. strategic BTC reserve and signs of dollar liquidity tightening.

Major cryptocurrencies slid on Monday evening as bitcoin (BTC) fell below the $60,000 level, while ether (ETH) dropped by 3% and solana (SOL) declined by as much as 2.5%.

The price of BTC dropped by 2.3% over the past 24 hours to reach $59,483, continuing a downward trend that began on Monday morning. The world’s largest cryptocurrency by market capitalization reached an intraday high of $61,783 earlier in the day.

After rising above the $2,000 resistance level on Monday morning, ETH fell by 3.1% to trade at $1,920. The second-largest cryptocurrency by market capitalization began the day at a price of $1,900 and reached an intraday high of $2,003.

Solana fell by 2.5% to reach a price of $183, continuing a downward trend that began on Monday morning. The world’s seventh-largest cryptocurrency by market capitalization reached an intraday high of $193 earlier in the day.

Binance coin (BNB) and chainlink (LINK) both fell by 3% over the past 24 hours to trade at $743 and $36.3, respectively. The price of BNB rose by 0.5% over the past seven days, while the price of LINK fell by 4.2%.

The total cryptocurrency market value fell by 1.3% over the past 24 hours to reach $2.89 trillion, continuing a downward trend that began on Monday morning. The total crypto market cap reached an intraday high of $2.98 earlier in the day.