Bitcoin fell to $63,000 after Monday’s rally failed, wiping $80 billion from the crypto market and triggering about $700 million in liquidations. Ethereum dropped below $1,900, while several major altcoins recorded steeper losses. Separately, three users sued Apple over fake Sparrow Wallet apps linked to about $1.835 million in alleged Bitcoin thefts.
Bitcoin entered Monday after a volatile week that carried it from $63,750 to a monthly peak of $67,000 within 36 hours. Sellers blocked another advance at that level, pushing the asset to $64,750 on Wednesday and $63,750 by Friday.
Weekend trading brought calmer conditions and a recovery toward $64,000. News of de-escalation in Middle Eastern attacks then lifted Bitcoin to $65,600 twice on Monday, marking its highest price since Friday.
The advance ended quickly as sellers drove Bitcoin down nearly $3,000 within hours. It touched $63,000 for the first time in 10 days, then recovered slightly to $63,400. Bitcoin remained 3% lower for the day, while its market value fell to $1.720 trillion. Its market dominance stayed below 57%, according to the figures provided.
Ethereum also surrendered Monday’s gains after reaching a two-month high of $1,980. A 4.2% daily decline pulled it about $100 lower. XRP and Solana posted similar losses, while HYPE fell 8% to $55. Zcash, Chainlink, Stellar and Cardano also traded sharply lower.
Audiera’s BEAT led the declines with a 25% fall to $2.74. NEAR dropped 10%, while Shiba Inu and Pi each lost 9%. The total crypto market value declined from $2.330 trillion to $2.250 trillion in one day. That decline removed about $80 billion from the market.
Also Read: Bitcoin Price Forecast: Can BTC Sustain its Rally and Confirm a Trend Reversal?
Three users filed a 54-page federal complaint against Apple on July 24 in California’s Northern District. They allege fraudulent Sparrow Wallet applications reached the App Store and caused about $1.835 million in Bitcoin losses.
James Ramirez, Christopher Ellis and Jalen Delgado brought the case under docket number 5:26-cv-07713. The public docket lists the complaint, a civil cover sheet and an unexecuted summons. No judge has ruled on Apple’s responsibility for the alleged thefts. The users’ claims also remain untested in court.
Apple says it quickly removed the impersonating applications and terminated the developer accounts tied to them. The company had not filed a public response in the case. The complaint says Delgado downloaded a spoof application around May 1, 2025 and lost about $120,000. Ramirez allegedly lost 7.4 BTC, valued near $875,000, after downloading another application on July 25.
Ellis allegedly lost about $840,000 after using the software around August 3. Each user says the application requested a wallet seed phrase before moving Bitcoin to attacker-controlled addresses. Sparrow’s official website lists desktop downloads for macOS, Windows and Linux. It currently offers no iOS application.
The case now raises one pivotal question: how much responsibility does an app store carry when a fake wallet reaches users? Entering a recovery phrase into malicious software gives attackers control of the connected wallet.
Bitcoin’s failed Monday rally erased $80 billion from the crypto market and pushed Ethereum below $1,900. At the same time, Apple faces allegations that fake Sparrow Wallet apps caused $1.835 million in Bitcoin losses. Users should verify official wallet platforms before entering recovery phrases.