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Deythere > News > Market > Why Is Crypto Market Crashing Today?
MarketNews

Why Is Crypto Market Crashing Today?

Why Is Crypto Market Crashing Today?
Jane Omada Apeh
Last updated: March 10, 2025 10:36 am
By
Jane Omada Apeh
Published March 10, 2025
8 Min Read
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A broad sell-off has rattled the cryptocurrency market, dragging Bitcoin (BTC) and major altcoins lower as macroeconomic concerns grip investors. The downturn intensified after U.S. President Donald Trump’s comments on March 8, where he reportedly admitted his economic policies could cause “temporary economic pain.”

Contents
  • Bitcoin Drops 10% as Crypto Market Suffers Heavy Losses
    • Market Outlook (March 10, 2025)
  • Macroeconomic Pressures Trigger Risk-Off Sentiment
  • Trade Tensions Between U.S. and China Escalate
  • Bitcoin Faces Critical Technical Levels: What’s Next?
  • Investor Sentiment and Market Predictions
  • Conclusion: Will Crypto Markets Recover?
  • FAQs
      • 1. Why is the crypto market crashing today?
      • 2. How much has Bitcoin dropped this week?
      • 3. What key support levels should traders watch for Bitcoin?
      • 4. What economic events could impact the crypto market next?
      • 5. Will Bitcoin recover from this crash?
  • Glossary
    • References

This statement, coupled with concerns over budget cuts, trade tariffs, and rising U.S.-China tensions, sparked a retreat from risk assets, pushing Bitcoin and the broader crypto market into a downward spiral.

Bitcoin Drops 10% as Crypto Market Suffers Heavy Losses

As of March 10, Bitcoin is trading at $82,454, down nearly 4% in the past 24 hours and wiping out most of its recent gains. The flagship cryptocurrency is now approaching its 2025 low of $78,000, fueling speculation about further declines.

Market Outlook (March 10, 2025)

Asset

Price ($)

24H % Change

7D % Change

Bitcoin (BTC)

82,454

-3.56%

-10.26%

Ethereum (ETH)

2,101

-2.91%

-10.40%

Solana (SOL)

128.19

-7.24%

-20%

XRP (XRP)

2.18

-5.26%

-15.46%

Cardano (ADA)

0.74

-6.67%

-21.81%

Dogecoin (DOGE)

0.17

-7.37%

-20.32%

The broader crypto market has lost 7% of its total valuation, dropping to $2.7 trillion. Meanwhile, Bitcoin futures on the Chicago Mercantile Exchange (CME) opened at $82,110, reflecting a $4,320 drop from the previous day’s close, marking the second-largest single-day decline this month.

Crypto Market Overview
Crypto Market Overview

Macroeconomic Pressures Trigger Risk-Off Sentiment

Trump’s comments on budget cuts and trade policies heightened concerns about economic uncertainty, prompting investors to exit volatile assets like cryptocurrencies. The downturn coincides with major declines in U.S. tech stocks, reinforcing the broader market correction.

  • Nvidia (NVDA): Down 8.7% in five days.
  • Tesla (TSLA): Plunged 12.5% over the past week.
  • Meta (META): Declined 7.17%, adding to the tech sell-off.
  • S and P 500: Down 3.3% as investor confidence weakens.

The correlation between crypto and equities remains evident as institutions adjust risk exposure in response to policy shifts and trade concerns.

Trade Tensions Between U.S. and China Escalate

The crypto market crash also aligns with the implementation of China’s retaliatory tariffs on U.S. agricultural goods, which reportedly took effect on March 10. This follows the U.S.’s latest round of import hikes, adding to fears of a deepening trade war.

“The market hates uncertainty, and rising tensions between the U.S. and China are causing institutions to hedge against risk,” – Matt Hougan, CIO at Bitwise.

With the global economy at risk of slowing, investors are pulling funds from high-risk markets, impacting both equities and cryptocurrencies.

Bitcoin Faces Critical Technical Levels: What’s Next?

Bitcoin Technical Analysis

Bitcoin is currently stuck in an ascending wedge pattern, a formation that often signals a breakout or breakdown. Analysts are split on where BTC could go next:

  1. Bullish Scenario: If Bitcoin breaks above the upper boundary of the wedge, it could trigger a rally to $120,000, according to trader Captain Faibik.
  2. Bearish Scenario: If Bitcoin falls below the lower boundary, it could slide below $75,000, marking a major correction.

Arthur Hayes, co-founder of BitMEX, has also warned that Bitcoin could correct to multi-month lows of $76,000 before stabilizing.

Key Levels to Watch

  • Support: $78,000 (2025 low) and $76,000 (multi-month correction target).
  • Resistance: $85,000 (psychological barrier) and $90,000 (breakout level).

Bitcoin price chart

Traders are now eyeing upcoming U.S. economic data, including:

  • March 12: U.S. Consumer Price Index (CPI) – A key inflation indicator.
  • March 13: Producer Price Index (PPI) – Measures business costs and inflationary pressure.

If inflation data comes in higher than expected, the Federal Reserve may adopt a more hawkish stance, potentially adding more downside pressure on Bitcoin and risk assets.

Investor Sentiment and Market Predictions

While the short-term outlook remains bearish, some experts believe that long-term institutional demand and regulatory clarity could fuel a recovery.

“Bitcoin remains a strong hedge against inflation, and institutional demand is only growing. Short-term corrections are normal in bull cycles,” – Michael Saylor, Executive Chairman, Strategy.

Historically, similar downturns have led to strong rebounds, with many analysts maintaining a bullish long-term outlook for Bitcoin.

Conclusion: Will Crypto Markets Recover?

The crypto market downturn is driven by macroeconomic uncertainty, trade tensions, and shifting investor sentiment. While Bitcoin and altcoins remain under pressure, the next major move will likely depend on U.S. inflation data and global economic developments.

For now, traders should watch key support levels and macroeconomic events that could shape the market’s next direction.

Stay updated with Deythere as we’re available around the clock, providing you with updated information about the state of the crypto world.

FAQs

1. Why is the crypto market crashing today?

The crypto market is experiencing a sell-off due to Donald Trump’s economic policies, rising U.S.-China trade tensions, and concerns over macroeconomic uncertainty.

2. How much has Bitcoin dropped this week?

Bitcoin has fallen 10% over the past week, with a current price of $82,454. Some experts say it is approaching its 2025 low of $78,000.

3. What key support levels should traders watch for Bitcoin?

Bitcoin’s major support levels include $78,000 and $76,000. A drop below these could trigger further downside.

4. What economic events could impact the crypto market next?

Upcoming U.S. inflation data (CPI on March 12 and PPI on March 13) could influence market movements.

5. Will Bitcoin recover from this crash?

Analysts remain divided, but many believe Bitcoin will recover in the long term due to institutional demand and regulatory progress.

Glossary

Risk-Off Sentiment – Investors shifting from risky assets to safer ones due to uncertainty.

Ascending Wedge Pattern – A chart formation that can signal either a breakout or breakdown.

Bitcoin Futures (CME) – Contracts that allow traders to speculate on BTC’s future price.

Support Levels – Price points where Bitcoin historically finds buying interest.

Inflation Data (CPI/PPI) – Key indicators that influence Fed policy and market sentiment.

References

  1. CoinMarketcap
  2. Bitmex
  3. CNBC

Legal Disclaimer

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and carry significant risks. Always consult a professional financial advisor before making investment decisions.

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TAGGED:Bitcoin crashcrypto marketMarket Sell-OffsU.S.-China trade tensions

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ByJane Omada Apeh
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Omada is an experienced crypto journalist delivering in-depth analysis and insights on the ever-evolving world of cryptocurrency and blockchain. Her expertise spans market trends, regulatory developments, and innovative use cases. She is dedicated to providing accurate and engaging content for crypto enthusiasts and newcomers alike.
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