Synopsis
Bitcoin’s market capitalization dropped to $1.679 trillion, with its dominance at 59.73%. Its 24-hour trading volume fell by 15.85% to $67.18 billion, with stablecoins making up $146.59 billion, or 95.08%, of the total volume, according to .
Bitcoin fell below $85,000 as concerns over US trade policies weighed on market sentiment, while altcoins like Ethereum, XRP, and Solana dropped up to 7% in Thursday’s trade.
US President Donald Trump added uncertainty to looming tariffs on Canada and Mexico by suggesting they could take effect on April 2, extending the deadline by a month. However, a White House official later clarified that the previous March 2 deadline remained in place “as of this moment,” adding to market volatility.
US Treasury yields reacted to the developments, with the two-year yield rising to 4.09% after hitting a low of 4.065% in the prior session, while the 10-year yield climbed to 4.2772% from a 2-1/2-month trough of 4.245% on Wednesday. The rise in yields signaled a shift towards safer assets, adding to the selling pressure in cryptocurrencies.
Crypto Tracker
TOP COIN SETSNFT & Metaverse Tracker-10.40% BuyAI Tracker-10.87% BuyCrypto Blue Chip – 5-14.18% BuyBTC 50 :: ETH 50-14.22% BuySmart Contract Tracker-14.26% BuyTOP COINS (₹) Tether87 (0.21%)BuyBNB53,353 (-2.07%)BuyBitcoin7,423,640 (-3.81%)BuyXRP191 (-4.79%)BuyEthereum201,646 (-6.89%)BuyAs of 10:22 AM IST, Bitcoin was down 4.9% at $84,762, while Ethereum fell 7.1% to $2,317. The global crypto market cap declined 4.2% to $2.81 trillion in the past 24 hours.
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View Details »“Bitcoin and the broader crypto market are seeing a sharp drawdown amid weak macro sentiment. The asset briefly dropped to $82,300 after reports of US’ plans to impose a 25% tariff on the EU. Over 157,000 leveraged traders were liquidated today, totaling $766 million, with longs making up 80% of losses,” said Vikram Subburaj, CEO, Giottus.
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“Spot Bitcoin ETF outflows continue, with $336 million withdrawn yesterday. Market sentiment remains volatile, with the Crypto Fear & Greed Index plunging to Extreme Fear (10)—its lowest since June 2022. More turbulence is expected this week as US tariff decisions unfold. However, we believe that Bitcoin is closer to a local bottom and will bounce soon,” Subburaj added.
Avinash Shekhar, Co-Founder & CEO, Pi42, said, “The crypto market has entered a bear phase with Bitcoin declining over 20% from its January peak of $109,350 to an intraday low of $83,740.”
Also Read: Bitcoin is a bubble and will blow up someday, says Jim Rogers
Major altcoins also declined, with XRP down 6%, BNB losing 3.2%, Solana falling 4.7%, and Dogecoin dropping 3.9%. Cardano, Chainlink, Sui, Avalanche, Stellar, Litecoin, and Hedera recorded losses between 1% and 7%.
Bitcoin’s market cap fell to $1.679 trillion, with its dominance at 59.73%. BTC’s 24-hour trading volume dropped 15.85% to $67.18 billion, with stablecoins accounting for $146.59 billion, or 95.08%, of the total volume, according to .
“If Bitcoin reclaims $90,000, it could confirm a breakout, reigniting bullish sentiment and pushing BTC toward the $100K mark. On the downside, BTC could test $80,000 before making a decisive move, shifting its trajectory upward,” said Edul Patel, CEO and Cofounder of Mudrex.
Also Read:Pi Coin’s next move: Can it hit $100 and beyond?
(Disclaimer: Recommendations, views, and opinions expressed by experts are their own and do not reflect the views of The Economic Times.)
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