Bitcoin traded lower on Monday after failing to maintain momentum above $116,000, as whales shifted funds into ether. The broader crypto market also surrendered recent gains, with the CoinDesk 20 Index falling more than 3% over 24 hours to 3,239 points.
Privacy-focused cryptocurrency Monero (XMR) surged to a near two-month high of $333, even after its blockchain experienced an 18-block reorganization that reversed over 100 transactions. The event underscores centralization risks in proof-of-work networks, which can make certain blockchains vulnerable to record manipulation.
XMR’s rally highlights growing investor interest in privacy coins, despite technical setbacks, while bitcoin and the wider market remain under pressure from capital rotations and whale-driven volatility.
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