Crypto Market Today (Mar 10): BTC & Ether Prices Sink, Here’s Why
Highlights
- BTC price touched a $80K low again despite strategic Bitcoin reserve announcement.
- ETH, SOL, XRP prices also slumped mirroring BTC.
- Despite pro-crypto U.S. advancements, the broader market sentiment remains bearish.
Crypto Market Today (March 10): Bitcoin & Ether price actions on Monday set off a tidal wave of market concerns despite recent pro-cryptocurrency advancements in the U.S. Notably, BTC price backtracked to touch a $80K low intraday, whereas ETH price lost nearly 6%. Traders and investors are left jittering as even major-league altcoins Solana and XRP lost alarming values despite a ‘crypto stockpile’ and a strategic Bitcoin reserve announcement by Donald Trump last week.
Crypto Market Today: Here’s Why Bitcoin & Major Altcoins Are Falling
The global crypto market lost 4.83% over the past day, as indicated by a diminished market cap of $2.69 trillion. Further, liquidations in the past 24 hours totaled over $600 million, per Coinglass data, underscoring heat on prices. Analyst Ali Martinez revealed that over $1 billion in Bitcoin long positions have been liquidated recently, aligning with the market volatility.
On the other hand, the release of the non-farm payrolls (NFP) report on Friday hinted that a hawkish stance by the Feds could be on the horizon again. Coupled with the macro heat due to Trump’s tariff saga this month, these factors present risk assets with severe market pressure.
BTC Price Brushes $80K Low
BTC price dropped nearly 5% as of press time and exchanged hands at $82,033. The flagship coin hit an intraday bottom of $80,052.49 after falling from $86,146.15. The latest Coinglass data indicated that $237.60 million was liquidated in the Bitcoin market intraday. Nevertheless, the coin’s market dominance remained up by 0.03%, pointing towards a more volatile alts sector.
ETH Price Reverses 6%
ETH price lost nearly 6% in the past 24 hours and exchanged hands at $2,062. The coin bottomed and peaked at $1,991.19 and $2,194.89 intraday. Ethereum slips alongside $107.56 million liquidated in the past 24 hours. Besides, ETH’s market dominance rested at 9.2% today. The slumping action comes despite 600,000 ETH accumulated from crypto exchanges over the past week.
XRP Price Falls 6%
XRP price fell nearly 6% in the past 24 hours and exchanged hands at $2.18. The coin hit a low and a peak of $2.09 and $2.34 in the past 24 hours. Ripple’s coin recorded only $30.34 million worth of liquidations, despite which the price slumps.
SOL Price Loses 8%
SOL price lost nearly 8% value as of press time and closed in at $127.5. Its intraday bottom and peak were $124.38 and $139.73, respectively. Solana recorded $26.6 million worth of liquidations in the past 24 hours, with its price dipping in tandem with the broader trend.
Meme Crypto Market Also Wanes
Dogecoin (DOGE) price fell 10% in the past 24 hours and traded at $0.1718. This waning action aligns with a 300 million DOGE whale dump to Binance, per recent Whale Alert data on X.
Also, Shiba Inu (SHIB) price cracked 4% and exchanged hands at $0.00001208. This waning movement comes despite a roughly 1000% surge in the SHIB burn rate intraday.
Even Pepe Coin (PEPE) and TRUMP crashed over 9% and are sitting at $0.000005960 and $10.97, respectively. Leading meme coins sink in sync with the broader market trend.
Top Gainers In Crypto Market Today
Some tokens have defied the broader market trend to trade in the green zone today. These are:
Story (IP)
Price: $5.23
24-Hour Gains: +9%
UNUS SED LEO (LEO)
Price: $9.83
24-Hour Gains: +0.5%
Top Losers In Crypto Market Today
JasmyCoin (JASMY)
Price: $0.01363
24-Hour Loss: -15%
Injective (INJ)
Price: $9.66
24-Hour Loss: -13%
Render (RENDER)
Price: $3.05
24-Hour Loss: -12%
Overall, the current market action has pushed investors to stay cautious despite pro-crypto advancements in the U.S. However, some market experts sighed in relief as the U.S. government announced it wouldn’t sell the nearly 200,000 Bitcoins acquired by Silk Road and would include it in its reserve, negating mass sell-off concerns. On the other hand, whales continue to buy the dip, sparking contrary market speculations as a sustained volatile trend prevails despite broader crypto advancements.
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