04:15 PM EDT, 08/05/2024 (MT Newswires) -- Major digital assets tumbled Monday with bitcoin (BTC-USD) hovering near the $54,000 level.

The CoinDesk Market Index, which tracks 134 digital assets, plunged 10.6% in the past 24 hours amid selloffs on Wall Street. The Nasdaq 100 fell 3.7%, the S&P 500 shed 3.3% and the Dow Jones Industrial Average dropped 2.8%.

Bitcoin (BTC-USD), the most popular cryptocurrency, slumped 9.5% to $53,920 with a 24-hour trading volume of $107.4 billion, surging by 241%, according to CoinMarketCap data.

Ethereum (ETH-USD), the second-largest digital asset, was down 12.3% at $2,432.

BNB (BNB-USD), the third-largest digital asset by market value excluding stablecoins, slumped 9.2%, while Solana (SOL-USD), the fourth-largest, shed 8.8%.

XRP (XRP-USD) was 9.9% lower, Cardano (ADA-USD) dropped 11.1% and Dogecoin (DOGE-USD) fell 10.1%.

The US 10-year Treasury yield closed at 3.777%, down from Friday's close of 3.798%, while the five-year yield was steady at 3.622%.

The total market value of the cryptocurrency industry decreased 10% in the past 24 hours to $1.88 trillion. Trading volume increased about 214.5% to $242.25 billion.

Price: 188.21, Change: -16.23, Percent Change: -7.94