Monday's carnage continued as the leading cryptocurrency fell below $60,000 for the first time in nearly two months.

Altcoins are also in dire straits, with some losing double digits, as well as many others falling 5-10%.

CryptoPotato reported earlier today on a rough start to the trading week for bitcoin and the remaining crypto markets.

At that time, the largest digital asset lost more than two thousand dollars in a few hours and fell to a 6-week low of $62,100.

However, the landscape only worsened in the following hours, and the cryptocurrency just dropped below $60,000 for the first time since early May.

Currently, BTC is back above $60,000, but its market capitalization has dropped below $1.2 trillion. This is because bitcoin is down 6% over the past day and over 8% over the week.

The biggest losers from the altcoin space came from GNO (-11%), BRETT (-11%), UNI (-9.5%), BCH (-8%), MRK (-8%), and others.

The total value of liquidated positions jumped to more than $320 million on the day. The number of failed traders during the same period was more than 85,000.

Bitcoin (BTC) price breaks below 60K for the first time since May 3.