Cryptocurrencies sold off sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets.

Bitcoin shed 4% of its value from Sunday night through to Monday morning in Singapore to reach $79,049. Second-ranked token Ether plummeted to $1,538, an intra-day low not seen since Oct. 2023.

Crypto shares tumbled in overnight trading. Bit Digital fell over 10%; Coinbase, CleanSpark, MARA Holdings fell over 9%; Strategy fell over 8%.

Coinglass data show about $745 million worth of bullish crypto wagers were liquidated in the past 24 hours, the most in nearly six weeks.

Options markets suggest the selling pressure may continue “with the skew for puts picking up considerably,” said Sean McNulty, head of APAC derivatives at digital-asset prime brokerage FalconX. Key support levels for Bitcoin and Ether are $75,000 and $1,500, respectively, he added.