Bitcoin price today: drops below $116k, Amdax plans bitcoin company

Investing.com-- Bitcoin slid below $116,000 on Monday, reversing sharply from last week’s record highs, as fading expectations for aggressive Federal Reserve easing and heightened geopolitical risks weighed on investor risk appetite.

At 08:15 ET (12:15 GMT), the world’s largest cryptocurrency traded 2.5% lower at $115,320.0.

Bitcoin climbed to a record above $124,000 last week, but pulled back after hotter-than-expected U.S. producer price data rekindled concerns over tariff-driven inflation.

Other tokens also tumbled on Monday, with Ether retreating further from near-record-high levels.

Softening Fed cut outlook, geopolitical risks weigh

Last week’s stronger-than-expected U.S. Producer Price Index and import price data dampened hopes of a substantial Fed rate cut in September.

Markets shifted from pricing in a half-point cut to anticipating a more modest 25-basis-point reduction, according to CME Fedwatch.

Meanwhile, the Alaska summit between U.S. President Donald Trump and Russian President Vladimir Putin ended last week without an accord on Ukraine.

Trump—who earlier pushed for a ceasefire—aligned more closely with Moscow by backing a full peace deal first, a stance seen as strengthening Putin.

Investors are bracing for further geopolitical developments as Trump is scheduled later today to meet with Ukrainian President Volodymyr Zelenskiy and key European leaders in Washington.

The market remains cautious amid uncertainty over whether these talks will yield progress or escalate risk, limiting appetite for speculative assets like Bitcoin.

Gold prices rose on Monday as investors sought safe-haven assets ahead of the key event.

Amdax plans bitcoin treasury company

Still, Amsterdam-based cryptocurrency service provider Amdax announced Monday plans to launch a bitcoin treasury company called AMBTS (Amsterdam Bitcoin Treasury Strategy) on the Dutch stock exchange, highlighting the growing appeal of the digital currency.

"With now over 10% of bitcoin supply held by corporations, governments and institutions, we think the time is right to establish a bitcoin treasury company with the aim to obtain a listing on Euronext (EPA:ENX) Amsterdam, as one of the leading exchanges in Europe," said Amdax CEO Lucas Wensing.

Crypto price today: altcoins extend losses in line with Bitcoin

Most altcoins extended sharp declines tracking weakness in Bitcoin, and broad-based selling before risk events.

World no.2 crypto Ethereum fell 5.4% to $4,293.21, after jumping near record high levels last week.

World no. 3 crypto XRP dropped 4.3% to $2.9727 on Monday.

Solana declined 5.1%, and Cardano slipped 6.2%, while Polygon lost 2%.

Among meme tokens, Dogecoin fell 4.3%, while $TRUMP traded 3.1% lower.

Ayushman Ojha contributed to this article