Bitcoin has encountered strong resistance at $84,000, with price volatility intensifying over the weekend.

Coinbase stock price suffered a major setback on Monday as almost all the major cryptocurrencies were facing intense selling pressure.

Coinbase Global (COIN) stock price was down by 17.6 percent as cryptocurrencies were facing major selling pressure in today's session.

Cryptocurrency markets witnessed selling on Sunday and early Asian session led Bitcoin below $80,000 while Ethereum saw levels below $2,000.

Bitcoin, Ethereum and other cryptocurrencies declined within minutes of executive order on Strategic Crypto Reserve signed by US President Donald Trump failed to impress the market.

Ethereum is nearing a major milestone with its Pectra upgrade, a sweeping enhancement designed to improve staking efficiency and wallet functionality.