Bitcoin sank to its lowest level since April as losses continued on Tuesday morning, with a seven-day decline topping 13% as investors took flight from assets seen as higher risk.
Over 24 hours, bitcoin was down 4.6%, sinking below $90K overnight but paring losses slightly to reach $91,200.
The largest cryptocurrency has shed almost 28% of its all-time high reached in early October.
Among alt-coins, Ethereum was down 4% over 24 hours to $3,055, down 14% over a week; with XRP falling 3.35%, and Solana dropping 2.26%.
Bitcoin's plunge was "intensifying a month-long downturn that has wiped out its gains for 2025 and shaken confidence across the digital asset market", said market analyst Patrick Munnelly at Tickmill.
"The last time Bitcoin dipped below this level was in April, when it nosedived to a low of 74k following President Donald Trump’s announcement of his initial tariff plans, which rattled global financial markets."
Kyle Rodda, market analyst at Capital.com, said the decline in bitcoin on Monday was "an ominous signal" as the cryptocurrencvy is "often the canary in the coal mine for broader risk assets".
He said the erasing of most of the gains made in the year to date "suggests risk appetite is diminishing significantly in the markets" and noted that strong selling activity over the weekend, with trading activity at stages double normal levels, had largely started to recover on Monday.
"However, the approximately 26% high to low move in Bitcoin fits the technical definition of a bear market, possibly sounding the alarm for crypto assets and broader financial markets."