Leading cryptocurrencies traded in the red alongside stocks on Monday as uncertainty on Iran negotiations kept risk appetite in check.
| Cryptocurrency | 24-Hour Gains +/- | Price (Recorded at 9:17 p.m. EDT) |
|---|---|---|
| Bitcoin (CRYPTO: BTC) | -1.56% | $63,976.86 |
| Ethereum (CRYPTO: ETH) |
-2.13% | $1,874.37 |
| XRP (CRYPTO: XRP) | -1.89% | $1.01 |
| Solana (CRYPTO: SOL) | -1.01% | $75.86 |
| Dogecoin (CRYPTO: DOGE) | +0.33% | $0.06992 |
Crypto Market Sells Off
Bitcoin faced intense selling pressure as 24-hour trading volume surged 56%, pushing its price down toward $63,000. Ethereum’s trading volume jumped 70%, while the second-largest cryptocurrency slipped below $1,900.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 2.68% and 3.83%, respectively.
Over $200 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in bullish long positions, according to Coinglass data.
Bitcoin’s open interest fell 0.40% over the last 24 hours, aligning with the drop in spot price. Meanwhile, retail and whale derivatives traders on Binance increased their BTC long exposure after the price drop.
Top Gainers (24 Hours)
| Cryptocurrency (Market Cap>$100 M) | Gains +/- | Price (Recorded at 9:17 p.m. EDT) |
| Cysic (CYS) | +32.25% | $1.32 |
| Nexus (NEX) | +19.75% | $0.000001717 |
| Ribbita by Virtuals (TIBBIR) | +14.86% | $0.1362 |
The global cryptocurrency market capitalization stood at $2.18 trillion, following a dip of 1.35% over the last 24 hours.
Read Also: Is Bitcoin Ready To Explode? Here's Why Crypto Is at a 'Major Inflection Point'
Stocks Lag Amid Iran Deadlock
Stocks kicked off the week with losses. The Dow Jones Industrial Average fell 60.95 points, or 0.11%, to close at 53,975.98. The S&P 500 slid 0.06% to close at 7,753.11, while the tech-focused Nasdaq Composite dropped 0.32% to settle at 26,605.36.
Iranian President Masoud Pezeshkian reportedly called for a deal with the U.S. over the Strait of Hormuz, adding that the war “has to be brought to an end at some point.”
Meanwhile, claims circulated on social media that Iran had "flatly" ruled out negotiations with President Donald Trump and planned to wait out his term until 2029. However, there was no official confirmation from Tehran.
A Bullish Fluctuation Incoming?
Blockchain research firm Santiment highlighted Bitcoin’s elite wallets, i.e, those holding at least 10,000 BTC, jumped to a 6-month high, with a 7% increase over the last two months.
“Smaller holders are losing share, while the largest wallets are gaining presence again,” Santiment added. “Supply is rotating toward stronger hands before the next major market fluctuation, and this usually increases the likelihood of that fluctuation being a bullish one.”
🐳 Bitcoin’s elite wallet count has bounced back to a 6-month high, with 90 wallets now holding at least 10K $BTC.
— Santiment Intelligence (@SantimentData) August 10, 2026
📈 This is not a tiny signal. There has been a net gain of +6 wallets holding at least 10K+ BTC in the past 8 weeks, a +7.1% rise.
🦐 Micro wallet holdings have… pic.twitter.com/c2khTjHsC5
On-chain analytics firm CryptoQuant stated that Bitcoin may be approaching an acute “top formation phase,” with downside risk increasing as prices climb. The firm also saw limited chances of a sustainable breakout into a “stable uptrend.”
“Given the elevated risk and weak data, larger buys should be held back for now. Stronger cyclical entries become attractive near $51,000,” CryptoQuant added.
Top Pattern Ahead – Next Sell-Off Soon
— CryptoQuant.com (@cryptoquant_com) August 10, 2026
"Despite remaining upside, risk predominates. Lack of trend strength means upward moves can collapse anytime. Higher price highs are forming lower MACD highs → clear bearish divergence." – By @STASolutions1 pic.twitter.com/X9pMGvZbWB
Read Also: Standard Chartered Targets LINK At $200, Joining Hyperbullish Bitcoin, Ethereum Calls
Photo Courtesy: Marc Bruxelle on Shutterstock.com
