by Coinstrooper Crypto Articles
Quick Take
  • It started the week by falling 2.9% over the past 24 hours and pulling back to $2.65 trillion.
  • Moreover, 91 of the top 100 coins saw their prices decrease in this period.
  • The total crypto trading volume stands at $199 billion, a similar level seen in the previous days.
  • The week, and the month for that matter, began in the red.

What Happened

John Glover, Chief Investment Officer of Ledn, argued that a sense of panic had entered the BTC market last week as the coin fell below $84,000. The market hadn’t closed below this price since April 2025, Glover noted.

Market Context

The crypto market is down today again. It started the week by falling 2.9% over the past 24 hours and pulling back to $2.65 trillion. Moreover, 91 of the top 100 coins saw their prices decrease in this period. The total crypto trading volume stands at $199 billion, a similar level seen in the previous days.

The week, and the month for that matter, began in the red. On Monday morning (UTC), all top 10 coins per market capitalisation have seen their prices drop.

Bitcoin (BTC) fell by 2.1%, currently trading at $76,472.

XRP (XRP) is next, with a 4.3% drop, now trading at $1.58.

Furthermore, of the top 100 coins per market cap, 91 have posted price decreases today.

Of these, one saw a double increase. MYX Finance (MYX) is up 12.8% to the price of $5.7.

MemeCore (M) appreciated 7%, trading at $1.33, while the rest of the green list is up 4% and less.

As for the red list, Monero (XMR) fell 8.7% to the price of $396, followed by Kelp DAO Restaked (ETH RSETH)’s 8.1% drop to $2,376

‘The Market is Playing Out as Expected’

And yet, from an Elliott Wave perspective, the market is playing out as expected.

“We remain in Wave IV and look for this to complete somewhere between $71,000 and $84,000.” He adds: “Looking to accumulate BTC between these prices after having closed long positions at $117,000 once the Wave III top formed at $124,000.”

Over the past week, ETH dropped 13%, trading within the $75,442–$90,117 range. It also fell 15% in the past 30 days and just below 40% from its all-time high of $126,080, recorded in October 2025.

Why It Matters

More specifically, the nomination of Kevin Warsh as the new Federal Reserve Chair and “a hotter-than-expected PPI triggered a hawkish shock,” the analysts said.

Details

Crypto Winners & Losers

Ethereum (ETH) is down 7.2%, changing hands at $2,225. This is the second-highest drop in the category.

The fall is 7.7% by Lido Staked Ether (STETH), currently standing at $2,224.

On the other hand, the smallest decrease among the top 10 is 1.3% by Tron (TRX), changing hands at $0.2829

Dogecoin (DOGE)’s 1.5% to $0.1032 is next, followed by BTC.

Moreover, Glover doesn’t see Wave V beginning until the second quarter of this year. Once it does start, his target will be $140,000 to $165,000, he said.

“I’ll be better able to reduce this range once we know where Wave IV completes. This count will be proven wrong if we close below $67,000 this year,” the CIO concluded.

Closing the week, Glassnode analysts noted that the latest news from the US (which had come out by Friday) pulled crypto down.

Levels & Events to Watch Next

At the time of writing on Monday morning, BTC was changing hands at $76,472. It has been a relatively calm day for the coin by the time of writing. It slowly decreased from the intraday high of $79,049 to the day’s low of $74,591.