Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked Ether with the steepest fall since 2021.
BTC traded 11% lower at $52,680 in London, after a 13.1% drop last week. Ether lost over a fifth of its value before recovering slightly to $2,342.
Global stock selloff, economic uncertainty, AI investment doubts, and Middle East tension contribute to the crypto market's challenges.
Bitcoin faces headwinds from geopolitical tensions, US political instability, potential government Bitcoin sales, and token supply issues post-bankruptcy.
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