Bitcoin has retreated from its recent highs, trading just below $75,000 after reaching $78,300 last Friday. The cryptocurrency market is experiencing volatility, partly due to a "CME gap" formed when Bitcoin futures closed at $77,540, up 3.8% from the opening price. This gap, similar to one last week, is expected to be filled soon. Meanwhile, Ethereum is trading at $2,300, down from $2,460. The market faced additional pressure over the weekend as the Strait of Hormuz closure led to a surge in crude oil prices, impacting risk assets. Open interest in the crypto market remains stable at $120 billion, but trading volume has increased by 30%, suggesting heightened market activity without new capital inflows. Aave's total value locked dropped significantly due to a $292 million scam involving KelpDAO, causing liquidity concerns and a surge in AAVE futures open interest. Despite these challenges, Bitcoin and the CoinDesk 20 index rose 1% on Monday, outperforming altcoin-focused indices. The altcoin sector remains under pressure, with Celestia (TIA) showing volatility, rising over 4% since midnight but still down 3.9% over the past 24 hours.