Major cryptocurrencies showed mixed performance on Monday, as market participants weighed geopolitical tensions surrounding Iran against continued selling pressure from large corporate Bitcoin holders—a dynamic that has weighed on sentiment even as U.S. equities power to new records.

Crypto Market Movers

Bitcoin climbed to an intraday high of $64,020 during late afternoon trading before retreating to approximately $62,000. Meanwhile, Ethereum remained range-bound around the $1,800 level, continuing its underperformance relative to Bitcoin in recent weeks.

In the past 24 hours, more than $240 million in positions were liquidated across the cryptocurrency market, with short traders sustaining larger losses than their long counterparts, according to data from Coinglass—a sign that pockets of bearish positioning were caught off guard by the session's upward moves.

Bitcoin's open interest increased by 1.93% over the same 24-hour window. A simultaneous rise in both open interest and price typically signals a long buildup, indicating that new buyers are entering positions.

The total global cryptocurrency market capitalization was $2.2 trillion, down 0.79% over the preceding 24 hours.

U.S. Stock Markets Hit Record Highs

Equity markets kicked off the new trading week on strong footing. The Dow Jones Industrial Average surged 693.38 points, or 1.32%, finishing at a record closing level of 53,178.41. The S&P 500 gained 1.48% to close at 7,600.50, while the Nasdaq Composite advanced 2.13% to settle at 25,913.90.

The contrast between record-breaking stock indices and a crypto market struggling to regain its footing highlights a notable decoupling in risk-asset performance. Digital assets, which have at times traded in correlation with equities during periods of shifting monetary policy, have thus far failed to participate in the latest equity rally.

Over the weekend, President Donald Trump urged Iran to return to the negotiating table, though Tehran subsequently denied that any direct talks with Washington were in progress. Geopolitical flashpoints have historically introduced short-term volatility across both traditional and digital asset markets, as traders reposition for potential shifts in energy prices, risk appetite, and dollar strength.

In a post on Truth Social, Trump accused Iranian negotiators of being "unbelievably duplicitous" and warned that only two outcomes remained possible: "Deal" or "Total Surrender."

Has Bitcoin Found a Bottom?

On-chain analytics provider CryptoQuant observed that Bitcoin's Adaptive Sell-side Risk Ratio—a metric designed to measure aggregate selling pressure—has fallen to levels that have historically coincided with accumulation phases.

"Historically, such zones have appeared during the late stages of bear markets," CryptoQuant noted. "This improves the long-term risk-reward profile, but it does not mean a local bottom has already formed."

The analysis underscores a broader debate among traders over whether Bitcoin is in a consolidation phase within a larger bull cycle or facing a deeper correction, particularly as large holders continue to offload positions.

Prominent cryptocurrency analyst and trader Michaël van de Poppe suggested that conditions were beginning to "look great" for Ethereum.

"I would assume that we're going to hold $1,800 and break the $2,000 barrier. After that, it's a fast run to $2,300 and higher," van de Poppe projected.