Cryptocurrency markets fell as global equities and precious metals sold off, while bitcoin liquidations exacerbated downside moves.

The bitcoin price has plummeted under the closely-watched $80,000 per bitcoin level, sparking fears that a full-blown bitcoin and crypto crash could be looming.

The original cryptocurrency recovered slightly on Monday.

The mean closing price of BTC over the past 200 weeks is a widely used long-term momentum indicator and a baseline for the traditional-four year bitcoin cycle. It has marked a market bottom in every previous cycle, and is currently at $57,926.

Bitcoin is deep in a bear market, down about 37% from its October peak. January 30 marked the 10th largest liquidation event in the token's history.

Bitcoin fell as low as about $74,500 early Monday, dipping below Strategy's average purchase price of $76,052 per token.

It is one of the largest Bitcoin miners in the world.

Bitcoin price visits 9-month low as macro tensions kept market demand in check. Altcoin market sees late day recovery led by STABLE and RIVER.

“When interest rates increase, fixed-income assets lose value, and investors, knowing that interest rates are easier to predict and may continue to increase, instead of holding a ‘fixed-income’ asset that will lose value in the short term, they cut losses and invest in riskier assets, like Bitcoin,” he said in a recent analysis.

The White House will try to broker compromise on key crypto legislation.

Stock futures fell on Monday as Wall Street begins a new month of trading, with traders keeping an eye on bitcoin after a weekend sell-off. Dow Jones Industrial Average futures lost 35 points, or 0.1%. S&P 500 futures dipped 0.4%, while Nasdaq-100 futures shed 0.8%.