Here's Why Monero Absolutely Tanked This Week, Sinking More Than 25%

Core Insights - Monero (CRYPTO: XMR) has experienced a significant decline of 25.6% over the past week after reaching a new all-time high, indicating investor fear amid tightening regulations in the cryptocurrency sector [1][8] Group 1: Market Dynamics - The recent decline in Monero's price is primarily linked to the technical fundamentals affecting most crypto assets, particularly the impact of leveraged trading and liquidation activity [5] - Over $2 million in long bets on Monero were liquidated in a single day, with additional millions liquidated throughout the week, leading to a significant reduction in investor accounts [6] - The reduction in open interest suggests a shrinking investor base for Monero, indicating potential challenges for future price recovery [7] Group 2: Performance Context - Monero has been identified as the worst-performing cryptocurrency among the top 15 over the past week, following its peak performance earlier in the week [8]