Synopsis
A streak of weak U.S. economic data persisted on Friday, as monthly figures revealed that the labor market created fewer jobs than anticipated last month, marking the first payrolls report to reflect the policies of former U.S. President Donald Trump.
Major cryptocurrencies, including Bitcoin, Ethereum, Solana, XRP, Cardano, and Dogecoin, declined on Monday as concerns over the U.S. economy and global trade tensions weighed on investor sentiment.
A run of soft U.S. economic data continued on Friday after monthly figures showed the labour market created fewer jobs than expected last month, in the first payrolls report capturing former U.S. President Donald Trump’s policies.
Meanwhile, Trump, in a Fox News interview on Sunday, declined to predict whether his tariffs on China, Canada, and Mexico would lead to a U.S. recession, adding to market uncertainty.
Crypto Tracker
TOP COIN SETSBTC 50 :: ETH 50-8.98% BuyCrypto Blue Chip – 5-10.19% BuyDeFi Tracker-13.95% BuyWeb3 Tracker-16.12% BuyAI Tracker-22.49% BuyTOP COINS (₹) Tether87 (0.08%)BuyBNB49,123 (-3.89%)BuyBitcoin7,178,997 (-4.21%)BuyEthereum180,162 (-5.25%)BuyXRP192 (-5.75%)BuyAs of 10:37 AM IST, Bitcoin was down 4% at $82,599 after touching a day’s low of $80,052. Ethereum fell 5.4% to $2,070, while the global crypto market cap dropped 4.4% to $2.7 trillion in the last 24 hours.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »Among altcoins, Solana fell 7.3%, XRP dropped 5.6%, Cardano lost 7.2%, and Dogecoin declined 8.6%.
Stock Trading
Maximise Returns by Investing in the Right Companies
View Program
Stock Trading
Renko Chart Patterns Made Easy
View Program
Stock Trading
Candlesticks Made Easy: Candlestick Pattern Course
View Program
Stock Trading
Dow Theory Made Easy
View Program
Stock Trading
Market 101: An Insight into Trendlines and Momentum
View Program
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
View Program
Stock Trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
View Program
Stock Trading
Market 104: Options Trading: Kickstart Your F&O Adventure
View Program
Stock Trading
ROC Made Easy: Master Course for ROC Stock Indicator
View Program
Stock Trading
RSI Made Easy: RSI Trading Course
View Program
Stock Trading
Technical Analysis for Everyone – Technical Analysis Course
View Program
Stock Trading
Introduction to Technical Analysis & Candlestick Theory
View Program
Stock Trading
Options Trading Course For Beginners
View Program
Stock Trading
Options Scalping Made Easy
View Program
Stock Trading
Futures Trading Made Easy: Future & Options Trading Course
View Program
“Bitcoin has dropped to $82,000, largely due to uncertainty surrounding former U.S. President Donald Trump’s economic policies,” said Shivam Thakral, CEO of BuyUcoin. He added that market stabilization could occur if the U.S. Federal Reserve maintains stable interest rates and provides clarity on economic policy.
Vikram Subburaj, CEO of Giottus, noted that while Bitcoin rebounded from $80,000, it remains in a bearish trend amid macroeconomic and geopolitical uncertainties. “Altcoins have mirrored Bitcoin’s movement, posting 6-10% declines. Ethereum is nearing its psychological support level of $2,000 and continues to underperform against Bitcoin,” he said.
Also Read: Kiyosaki rejects Bitcoin ETFs: Why he prefers real BTC over paper assets
Bitcoin’s market capitalization slipped to $1.637 trillion, with dominance at 60.46%. Its 24-hour trading volume surged 148.7% to $38.23 billion, while stablecoin volumes accounted for 92.9% of total crypto trading at $93.64 billion, according to .
Also Read: Trump’s Strategic Bitcoin Reserve plan: What’s next for crypto? Here’s what experts think
Tech view by ZebPay Trade desk
Bitcoin’s price is showing increasing signs of vulnerability as it approaches the weekly close, raising the risk of a potential drop to $75,000. Exchange order books indicate a critical zone of interest for traders, with liquidation levels on both sides of the spot price appearing susceptible. As BTC/USD slipped to $83,000, long positions began to incur losses. Meanwhile, Bitcoin exchange-traded funds (ETFs) witnessed net outflows of nearly $370 million on March 7, following news of President Donald Trump’s proposal for a U.S. strategic Bitcoin reserve. This development suggests growing caution among investors.
.com
BTC, after making an all-time high of $109,588, started trading in a ‘Descending Triangle’ pattern and was taking strong support at $90,000. The asset eventually broke below the pattern, causing prices to drop to $78,258. BTC formed a ‘Hammer’ candle at the recent low and staged a relief rally up to $95,000. However, the bulls lost their grip, leading to a correction to $80,000. Currently, the asset is attempting to hold support at this level. If it sustains above $80,000, the bulls may regain momentum. If it closes below $80,000, prices could slide further to $73,500.
Key technical levels
Support: $80,000 | $73,500
Resistance: $95,000 | $110,000
Also Read: Trump signs order to establish strategic bitcoin reserve
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
