Bitcoin, Ethereum, XRP Dip, but Dogecoin Gains as US-Iran Tensions Persist: Analyst Says 'Next Sell-Off Soon' as Risk 'Predominates' on BTC Chart

Leading cryptocurrencies traded in the red alongside stocks on Monday as uncertainty on Iran negotiations kept risk appetite in check.Cryptocurrency24-Hour Gains +/-Price (Recorded at 9:17 p.m. EDT)Bitcoin (CRYPTO: BTC)-1.56%$63,976.86Ethereum (CRYPTO: ETH) -2.13%$1,874.37XRP (CRYPTO: XRP) -1.89%$1.01Solana (CRYPTO: SOL) -1.01%$75.86Dogecoin (CRYPTO: DOGE) +0.33%$0.06992Crypto Market Sells OffBitcoin 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. ) and Bitmine Immersion Technologies Inc. ) 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% $1.32Nexus (NEX) +19.75% $0.000001717Ribbita by Virtuals (TIBBIR) +14.86% $0.1362The global cryptocurrency market capitalization stood at $2.18 trillion, following a dip of 1.35% over the last 24 hours. Read Also: Stocks Lag Amid Iran DeadlockStocks 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 .📈 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… 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"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 Read Also: Standard Chartered Targets LINK At $200, Joining Hyperbullish Bitcoin, Ethereum Calls Photo Courtesy: Marc Bruxelle on Shutterstock.com