Bitcoin’s price fell to $80,052 late Sunday night, a 7% drop in the previous 24 hours, as market pessimism over US President Donald Trump’s economic intentions persisted.
As of this writing, the price of Bitcoin is around $82,200.
The value of the cryptocurrency market fell by 7% to $2.77 trillion.
Ethereum plunged 8%, trading close to $2,000, while Solana and XRP also had 7% declines. Bitcoin’s supremacy, at 58.2%, is unaffected by the decline.
The market’s collapse has sparked significant liquidations; according to the crypto news price tracker Coinglass, data shows $616 million in liquidations over the last day.
Longer Positions Bore The Brunt
The majority of the losses, $540.49 million, were incurred by long holdings, with Bitcoin alone responsible for $231 million in liquidations.
- Bitcoin futures on the Chicago Mercantile Exchange (CME) started at $82,110 on March 10, down $4,320 from closing $86,430 the day before, further contributing to the market’s volatility. This comes after CME futures saw the second-largest single-day decline of the month on March 3, when they fell a record $10,350.
- President Trump’s comments in a March 9 Fox News interview, in which he admitted that his economic ideas will cause “temporary economic pain,” contributed to the decline. Investors are becoming more cautious in Bitcoin and other financial markets due to his remarks regarding trade tariffs and budget cuts, which have increased worries about market volatility.
Some investors have compared the current state of the economy to previous Federal Reserve Chairman Paul Volcker’s anti-inflation measures from the 1980s. Although Volcker’s actions generated much market volatility, they eventually stabilized inflation and promoted long-term growth.
BitMEX co-founder Arthur Hayes has cautioned that Bitcoin may experience more drops, possibly retesting the $78,000 mark. Hayes warned that there may be more volatility if prices move into the $70,000–$75,000 region, which many Bitcoin options are priced between.
To predict Bitcoin’s future movements, traders are now closely monitoring important economic statistics, such as the Producer Price Index on March 13 and the U.S. Consumer Price Index on March 12.
What To Note
Dan Hughes, the creator of the decentralized banking platform Radix, saw a notable change in liquidity with the introduction of Trump Coin. “People sold their cryptocurrency portfolios to purchase TRUMP in extreme FOMO [fear of missing out], accounting for the majority of the inbound liquidity,” Hughes told Cointelegraph.
- The general market slump has also affected Solana, as evidenced by the company’s price reduction. Since the beginning of 2025, this has caused the market capitalisation of all cryptocurrencies to fall by almost 17%.
- A surge in memecoin frauds has contributed to the decline by making investors look for safer assets.Â
Over $485 million was pulled out of Solana in February, with investor money mostly moving to Ethereum, Arbitrum, and the BNB Chain. This capital flight is part of a larger flight to “safety” among cryptocurrency market participants, according to a report by Binance Research shared with Cointelegraph.
