Bitcoin fell below 88,000 dollars: Market decline.

Reason for the Downtrend in Bitcoin

Bitcoin fell to $87,800 levels on Sunday afternoon in the US, losing around 2% in value in the last 24 hours.

On Monday, this critical level is trading at around $87,409. Cryptocurrency investors are being cautious due to the impact of market volatility.

How Other Cryptocurrencies Are Affected?

According to CoinDesk data, Ethereum (Ether) has dropped to around $2,880, while other major cryptocurrencies like Solana, XRP, and Cardano experienced value losses ranging from 3% to 5% throughout the day. Overall, the majority of the market has faced sharp losses in the past week.

Liquidations and Market Sentiment

This price pullback has led to a total of $224 million in liquidations in the last 24 hours, mainly in long positions, according to CoinGlass data. Among these liquidations, $68 million occurred in Bitcoin futures, while $45 million took place in Ether futures.

Market Developments

Analysts point out that weekend movements are often influenced by position adjustments made due to high volatility during the week rather than current news flow.

Additionally, market attention has shifted to concerns about a possible intervention in the Japanese yen following a warning from Japan's Prime Minister Sanae Takaichi regarding "abnormal" market movements.