Bitcoin and the rest of the cryptocurrency market is in the red. The largest digital asset by market cap was down 2% in 24 hours at 9am New York time, according to CoinGecko, trading for $26,690.

That's a 4.3% seven-day drop. The coin has struggled to bounce back after hitting a ten-month high of $30,000 in April and then nosediving in the month of May.

Ethereum, the second largest digital asset, also took a beating and was down 2% in the past day.


And major altcoins like Dogecoin, Polygon and Cardano all suffered 24-hour losses of between 1 and 2%.

The crypto industry seems to have broken out of its usual pattern of following U.S. equities. American stocks have gotten off to a roaring start for the week: The S&P 500 was up 0.1% after experiencing impressive gains last week, and tech-heavy Nasdaq was up 0.2%.

Tech investors have put crypto on the backseat and are largely eyeing up the world of artificial intelligence, which has been a hot topic since the November launch of chatbot ChatGPT.

Crypto VC funding dropped by 82% in Q1 2023 compared to the same period last year.

But a number of digital assets are up today: Gaming tokens such as Axie Infinity (AXS) and The Sandbox (SAND) are roaring, up 3.1% and 5.4% respectively.


The reason? Apple is today expected to launch its highly-anticipated mixed-reality headset in what some say will bring the Metaverse to the mainsteam.

Elsewhere, Terra Luna Classic is up significantly: The token was trading 3.2% higher in the past day, at the time of writing. At one point Monday morning ET, it was up over 7%. The original token of the failed Terra blockchain, which trades as LUNC, jumped on news that its creator Do Kwon will be released from Montenegro detention.

Stay on top of crypto news, get daily updates in your inbox.