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On March 9, 2025, bitcoin’s (BTC) price dipped to an intraday low of $80,000, a 6.6% drop against the greenback. At press time, 7:35 p.m. ET on Sunday, the price remains near the $80,500 level, carrying a market cap of roughly $1.59 trillion. Since Friday, BTC’s market valuation has been trimmed by roughly $200 billion, with $110 billion of that reduction occurring within the last 24 hours. BTC’s price also saw a decrease of about $6K. This weekend’s decline in bitcoin’s price was shaped by market responses to President Trump‘s executive order on the Strategic Bitcoin Reserve, a move that left investors disheartened.
Indications suggest that prevailing economic uncertainties, including U.S. tariff wars, have also played a role in the price fluctuations. Experts anticipate that short-term adjustments might continue until mid-April, propelled by a stronger U.S. dollar and Federal Reserve policies. Today, $201 million in BTC long positions were liquidated, and within the broader crypto economy, $582.86 million were eliminated, including $522.95 million in long positions. In addition to BTC, alternative digital assets like SOL, ETH, XRP, and DOGE shuddered alongside the leading crypto asset. The crypto market economy now stands at $2.65 trillion after losing 6.42% today.
