Bitcoin traded lower on Monday after failing to hold above $116,000, as whales shifted funds into ether. The broader market also retreated, with the CoinDesk 20 Index dropping more than 3% over 24 hours to 3,239 points.
Meanwhile, privacy-focused cryptocurrency Monero (XMR) rose to nearly $333, a two-month high, despite an 18-block reorganization that reversed over 100 transactions. The incident highlights centralization risks in proof-of-work networks, which can make blockchains vulnerable to record manipulation.
XMR’s rally underscores strong investor interest in privacy coins, even amid technical disruptions, while bitcoin and the broader crypto market continue to face volatility from capital rotations and whale-driven trading.
