Bitcoin, the leading cryptocurrency, dropped below $80,000 on March 9, 2025, sparking concerns among investors as a broader market sell-off unfolds.
The price fell to around $79,500, marking a sharp decline from its recent peak of over $87,800 earlier in March, driven by a combination of profit-taking, macroeconomic uncertainty, and shifting investor sentiment. This drop follows Federal Reserve Chair Jerome Powell’s cautious stance on interest rates, announced on March 8, which has fueled fears of stagflation and market instability.
Trading volumes surged past $71.5 billion in the last 24 hours, with nearly $410 million in leveraged Bitcoin long positions liquidated, according to industry data, reflecting heightened volatility.
The sell-off coincides with Trump administration trade policy shifts, including steep import tariffs on major trading partners like Mexico, Canada, and China, which have added to global market jitters.
Crypto traders are also reacting to the ongoing White House Crypto Summit and the U.S. Strategic Bitcoin Reserve proposal, creating mixed signals—some see it as bullish, while others worry about government overreach. Bitcoin’s decline has rippled through altcoins, with Ethereum and other major tokens also facing pressure, though Bitcoin remains the focal point at $79,500 as of press time. Stay informed on Bitcoin price movements with Crypto Market Insights on news.thecoininfo.com, and explore in-depth analysis on The Coin Info Hub at thecoininfo.com.
