Bitcoin traded lower on Monday, failing to hold above $116,000 as whale activity rotated funds into ether. The broader market also pulled back, with the CoinDesk 20 Index dropping more than 3% over 24 hours to 3,239 points.
Meanwhile, privacy-focused cryptocurrency Monero (XMR) climbed to a near two-month high of $333, despite an 18-block reorganization that reversed over 100 transactions. The incident highlights centralization risks in proof-of-work blockchains, which can be vulnerable to record manipulation.
XMR’s rally shows strong investor interest in privacy coins, even amid technical disruptions, while bitcoin and the broader market face continued pressure from capital flows and whale-driven volatility.
