Bitcoin slipped to about $83,000 at the start of this week, extending a broader retreat across digital assets. Altcoins suffered heavier losses; 91 percent of the assets tracked by the CoinDesk 100 were trading lower. The index fell 2.6 percent to 1,874.
The decline reversed much of Friday’s rally. Quant dropped 16 percent after surging 39 percent over the previous 24 hours, while The Graph lost 12 percent after advancing 14 percent. Ondo also fell 12 percent. DeFi-related assets were particularly weak, with the DSI declining 6.4 percent, while the CoinDesk Computing Index declined 3.2 percent.
The pressure came as oil prices climbed following President Donald Trump’s rejection of Tehran’s conditions. The terms reportedly included removing oil sanctions, unfreezing Iranian assets, and opening Iranian ports. Meanwhile, Brent crude rose 3.2 percent to $100.83.
Other major markets also declined. Gold declined to $4,144, a 3.3 percent drop. Meanwhile, silver dropped to $61 (a 5.1 percent decrease). The Nasdaq 100 and S&P 500 futures dropped 0.95 percent and 0.44 percent, respectively. The dollar index edged 0.06 percent higher to about 101.09.
Crypto derivatives activity pointed to widespread position closures. Trading activity increased sharply, with 24-hour crypto volume rising 70 percent to $172 billion. At the same time, open interest fell 3 percent to $150 billion, indicating that traders were closing positions rather than adding substantial new exposure. Bitcoin futures open interest fell to 650,000 BTC, its lowest level since mid-March, while funding rates remained negative across most exchanges.
Ether futures open interest also continued to shrink, reaching 12.85 million compared with 13.95 million in July and more than 15.65 million at its May peak. Despite that reduction, ETH has gained 68 percent since July, suggesting spot demand has played a larger role in the advance. Solana showed a similar pattern.
Hedera was a notable exception, climbing 13 percent to roughly $0.11. It was the only CoinDesk 100 asset to gain more than 3 percent during the session. QNT fell to $240.59, while The Graph and Fartcoin each lost 12 percent. Celestia and Kite dropped 9.1 percent and 11 percent, respectively.
Among the biggest decliners, Bitcoin Cash fell 7.7 percent to about $307, while Solana slipped 2.9 percent and Sui dropped 6.2 percent. XDC Network and Algorand each gained 2.3 percent.
Despite Monday’s losses, CoinMarketCap’s Altcoin Season Index remained at 65 out of 100, its highest reading in over three months. As the prices of digital assets continue to fluctuate, all eyes will be on the market cap of firms like American Bitcoin Corp. (NASDAQ: ABTC) with high exposure to particular cryptos.
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