Crypto selloff on Monday – Bitcoin’s drop pales in comparison to altcoins

There’s a well-known meme that shows that when Bitcoin falls by 2%, altcoins (and memecoins) usually plummet much more. You see it popping up once in a while. I’ve linked it here on Instagram, couldn’t find it anywhere else.

This was also the case on Monday. The largest digital currency fell by 2%, while most altcoins recorded much heavier losses. It was also telling that the investments that left Bitcoin immediately found their back way into gold.

Dogecoin and Ether

Some of the biggest losers in Monday’s selloff were the well-known memecoin Dogecoin (which plummeted 10%) and Ether, which promptly fell 6%. There was no clear reason for the selloff, and it was also obvious that Bitcoin held up better than most altcoins.

The notable crypto market selloff coincided with gold’s new all-time high, leading some analysts to suspect that some funds selling Bitcoin immediately converted their fiat into gold.

Gold has already gained around 10% in the past month, as investors fear the US economy will deteriorate and the ultimate safe haven could breach the $4,000 per ounce barrier for the first time this year.

The falling dollar is also good news for gold. In 2025, the dollar has already fallen by 11% while the price of gold has risen by 25%. As with Bitcoin, a weak dollar is good news for the precious metal.