A cell-off wave has caught the crypto market, lowering prices as traders of macroeconomic uncertainty on 10 March.
The recession followed the comments of US President Donald Trump in the March 8 Fox News interview, where he admitted that his economic policies could result in temporary economic pain as a result of his economic policies.
His dowish statements on budget cuts and business tariffs expressed concern over the increase in instability in the market, inspiring investors to move away from risky assets such as cryptocurrency.
Bitcoin (BTC) has fallen 10% in the last one week, erasing most of its recent benefits. It is currently trading at $ 82,574, nearly 4% below in the last 24 hours, its $ 2025 reached a $ 78,000 low. The comprehensive crypto market declined by 7%, leading to a total assessment of $ 2.8 trillion.
Altcoins also suffered significant damage. In the last 24 hours, Solana (Soul) fell 8%, declined by 6%in XRP (XRP), and the atherium (eth) fell 5%, which was struggling to live above $ 2,000. Cardano (ADA) and Dogcoin (DOGE) declined by about 8% and 9% respectively.
Market fall triggered $ 620 million in liquidation, with a prolonged luxury of $ 527 million. Bitcoin alone calculated a loss of $ 241 million.
Major US Tech stocks have also suffered significant losses. In the last five days, NVIDIA (NVDA) fell 8.7%, Tesla recorded 12.5%, and meta declined by 7.17%. S&P 500 fell 3.3% by Monday morning, indicating widespread investor concerns.
Meanwhile, Bitcoin Futures opened at $ 82,110 on 10 March at Chicago Mercantile Exchange, below the previous day’s $ 86,430 below $ 4,320, this month marking the second largest single-day fall in CME bitcoin futures this month.
Trump’s comment came ahead of growing trade tension between the US and China, Beijing set up new tariffs on American agricultural commodities in response to the latest round of American imports.
On March 4, 2025, China announced a ventilative tariff on the prescribed US agricultural products to be effective on March 10. The implementation is now going on, the possibility of increasing trade tension has been further weighed on the sense of investor.
In addition, Trump’s declaration of bitcoin reserve decreased from expectations last week. The absence of direct procurement provisions disappointed traders who estimated strong institutional support.
What will happen next?
Currently, traders are looking at major economic data this week, including the US Consumer Price Index on March 12 and the manufacturer price index on 13 March, which can affect the market’s short -term trajectory.
As the previously reported by crypto.news, Bitmex co-founder Arthur Hes believes that bitcoin can correct the multicolor of $ 76,000.
Recently, Trader Captain Fabic Spinish The price of bitcoin outside is trapped in an ascending veg pattern. If it breaks over this formation, it can rally up to $ 120K. However, if it falls below the lower range of the pattern, he warned that the bitcoin could slide up to $ 50k-$ 55k forward in midnight.
