The crypto crash on March 10, 2025, sent shockwaves through the market as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) suffered significant losses. Bitcoin tumbled to $80K, while Ethereum dropped below $2,000, raising concerns among investors. At the time of writing, BTC is trading at $82K, maintaining a dominance of 60% in the market.
Overall, the crypto market declined by 7%, bringing its total market capitalization to $2.68 trillion. XRP and Solana also lost close to 7%, while Ethereum recorded the most significant drop, falling by 8%.
$616 Million Liquidated as Long Positions Suffer Heavy Losses
As market volatility surged, over $616 million in crypto positions were liquidated in the past 24 hours, according to Coinglass. The majority of these losses came from long traders, who accounted for $540.49 million in liquidations.
Bitcoin alone saw $231 million in liquidations, highlighting its impact on the broader market sell-off. Adding to the turbulence, Bitcoin futures on the Chicago Mercantile Exchange (CME) opened at $82K, a $4,320 drop from the previous day’s close of $86K. This marked the second-largest one-day drop in Bitcoin futures for the month, following a $10,350 drop on March 3.
How Trump’s Economic Policies Triggered the Crypto Crash
The sharp decline in crypto prices was partly fueled by concerns over U.S. economic policies following a statement from President Donald Trump on March 9, 2025. During a Fox News interview, Trump admitted that his budget cuts and trade tariffs could lead to short-term economic struggles.
This spooked investors, who became more risk-averse, pulling money from speculative assets like cryptocurrency. Some analysts compared this situation to the 1980s anti-inflationary policies of Federal Reserve Chairman Paul Volcker, which initially led to massive market turbulence before stabilizing inflation.
Bitcoin’s Next Moves: Is $78K the Next Target?
With Bitcoin showing bearish momentum, BitMEX co-founder Arthur Hayes has warned that BTC could fall further, testing support at $78K. He also pointed out that many Bitcoin options are set between $70K and $75K, meaning if Bitcoin stays in this range, more market realignments could occur.
Key Economic Events That Could Impact Crypto Prices.
Traders and investors are closely monitoring the U.S. Consumer Price Index (CPI) report on March 12 and the Producer Price Index (PPI) release on March 13. These reports will offer insights into inflation trends and could have a major impact on Bitcoin and other crypto prices.
As the market remains highly volatile, crypto investors must stay informed and track price movements closely. The next few days will be crucial in determining whether this crypto crash is just a temporary dip or the beginning of a larger downturn. to read more. Click here
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