The Monday massacre continues. The major cryptocurrency fell below $60,000 for the first time in almost two months. 📉

Altcoins are also struggling, with many altcoins losing double digits in price and many others dropping 5-10%.

We have previously reported on the difficult start of the week for Bitcoin and other cryptocurrencies. The largest digital asset lost two thousand dollars in a few hours and fell to $62,100. However, the situation worsened in the following hours and the cryptocurrency fell below $60,000 for the first time since the beginning of May. 😱

Currently, BTC has only managed to rise above this level, but its market cap has fallen below $1.2 trillion. This means bitcoin is down 6% in the last day and more than 8% on a weekly basis.

The biggest losses in the altcoin space come from GNO (-11%), BRETT (-11%), UNI (-9.5%), BCH (-8%), MRK (-8%) and many others.

The total value of liquidation positions increased by more than $320 million on a daily basis. During the same period, the number of merchants going bankrupt rose to over 85,000.