Bitcoin slid below $74,000 on Monday for the first time since its mid-August breakout, dragging the wider digital-asset market down with it and erasing more than $80 billion in value in a single day.

The largest cryptocurrency touched a multi-month low of $73,500 in morning trading before recovering modestly to about $74,200, according to CoinMarketCap data. It remains lower on both a daily and weekly basis, and its market capitalization has fallen to roughly $1.49 trillion. Bitcoin’s share of the overall market is holding just above 60%.

Total crypto market value dropped to about $2.47 trillion, down from roughly $2.55 trillion a week earlier, a weekly decline of around $100 billion.

Altcoins Take a Heavier Beating

Losses among smaller…