The cryptocurrency market experienced a significant downturn on Monday, losing $136 billion in value as Bitcoin's price dropped below $86,000. The total market capitalization fell by 3.7% to $2.93 trillion. Ethereum also saw a substantial decline, falling 6.1% to $2,932, with $381 million in long positions liquidated. Analysts attribute the sell-off to heavy leverage, drawing parallels to previous market corrections. As volatility increases, traders are closely monitoring the $2.85 trillion level as a critical support point. The market's current state suggests potential sharp movements in altcoins in the near future.