Why the Crypto Market Is Bleeding: BTC, ETH, and SOL Take a Hit

  • Bitcoin’s price drops 4%, hitting $82K amid massive liquidations and uncertainty.
  • Ethereum, Solana, and XRP decline sharply, with ETH losing over 5%.
  • Meme coins crash as Dogecoin plummets 8.63%, mirroring broader market losses.

The cryptocurrency market sharply declined, with Bitcoin (BTC) dropping 4.02% to trade at $82,689.09 on March 10th, 2025. This comes despite last week’s announcement of a Strategic Bitcoin Reserve by former U.S. President Donald Trump, which initially sparked market optimism. However, broader economic concerns, including U.S.-Canada trade tensions and recession fears, have put downward pressure on digital assets.

AD 4nXepnTMJETIJihIeTGyIaDPdtPlfcCGxZJ A38RRcK0EhcQ6Ymajoq107sOqWZPXn of5kqEu
Source: coin360

Significant altcoins, including Ethereum (ETH), Solana (SOL), and XRP, followed BTC’s downtrend, with Dogecoin (DOGE) leading losses among meme coins.

Bitcoin’s Decline and Market Liquidations

Bitcoin’s price hit an intraday low of $80,052, down from its recent high of $86,146. Coinglass data reveals that $237.60 million was liquidated in BTC positions intraday, while total crypto liquidations exceeded $600 million. Additionally, Ali Martinez on X tweeted that market volatility has recently wiped out over $1 billion in BTC long positions.

Macroeconomic factors are adding to the uncertainty. The U.S. non-farm payrolls (NFP) report released last week hints at a potential hawkish Federal Reserve stance, increasing pressure on risk assets. Meanwhile, Trump’s tariff battle with Canada intensified following Mark Carney’s election as Canada’s Prime Minister. The Atlanta Federal Reserve’s GDPNow model has also revised its Q1 2025 GDP forecast downward to -2.4%, raising concerns about a potential recession.

Ethereum, Solana, and XRP Drop Amid Broader Sell-Off

Ethereum (ETH) is trading at $2,076.29, down 5.05%, with an intraday low of $1,991.19. Liquidations in ETH surpassed $107.56 million over the past 24 hours. XRP fell 6% to $2.1895, with a daily low of $2.09, while Solana (SOL) recorded the steepest losses, dropping 7.81% to $128.196.

Other significant altcoins also suffered, with Binance Coin (BNB) down 3.19% to $567.349 and Cardano (ADA) plummeting 8.35% to $0.745542. TRON (TRX) was one of the few gainers, rising 2.95% to $0.234863.

Meme Coins and Market Sentiment

Meme coins were hit hard, with Dogecoin (DOGE) plunging 8.63% to $0.174399, while Shiba Inu (SHIB) dropped 4%. Pepe Coin (PEPE) and TRUMP tokens also fell over 9%, reflecting the broader bearish sentiment.

Despite Trump’s announcement of a Strategic Bitcoin Reserve, uncertainty remains as no clear budget has been allocated for BTC purchases. U.S. Treasury Secretary Scott Bessent confirmed that discussions are ongoing, but the lack of immediate action continues to shake investor confidence.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.

Hot this week

Dogecoin Price Gains as Whales Add 240 Million DOGE During Dip 

Dogecoin price rises 1.36% to $0.0837, alongside gains in...

CLARITY Act Faces 60-Vote Test as White House Defends Final Deal 

CLARITY Act supporters face a 60-vote procedural hurdle, with...

Bitcoin Miners Split as BitFuFu Output Surges 55% During August

Bitcoin miners report diverging results, with BitFuFu increasing August...

DFDV Expands Solana Treasury and Opens $300M CHAD Share Program

DFDV reports 2,388,923 SOL and equivalents, an increase of...

Strive Adds 469 Bitcoin as Preferred Stock Funding Tops $1B

Strive adds 469 BTC for $36.6 million, bringing its...

Topics

Dogecoin Price Gains as Whales Add 240 Million DOGE During Dip 

Dogecoin price rises 1.36% to $0.0837, alongside gains in...

CLARITY Act Faces 60-Vote Test as White House Defends Final Deal 

CLARITY Act supporters face a 60-vote procedural hurdle, with...

Bitcoin Miners Split as BitFuFu Output Surges 55% During August

Bitcoin miners report diverging results, with BitFuFu increasing August...

DFDV Expands Solana Treasury and Opens $300M CHAD Share Program

DFDV reports 2,388,923 SOL and equivalents, an increase of...

Strive Adds 469 Bitcoin as Preferred Stock Funding Tops $1B

Strive adds 469 BTC for $36.6 million, bringing its...

South Korea Crypto Tax Faces Fresh Delay Push With 50,000 Names 

South Korea crypto tax opponents secure 50,000 signatures, triggering...

Smarter Web Target Signals 90% Upside on Preferred Share Plans 

Smarter Web receives a £0.73 price target, implying approximately...

CLARITY Act Final Draft Adds Trump Ethics Deal Before Senate Vote 

CLARITY Act negotiators say their final proposal includes 126...
spot_img

Related Articles

Popular Categories

spot_imgspot_img