Ethereum

Celsius

Solana

Better

<p>The cryptocurrency market is experiencing a downturn today like it has been doing for some days. Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Solana (SOL) are down by 4%, 4%, 3%, and 7% respectively. Many other cryptos are also showing similar declines.</p>
<p>One of the primary factors contributing to the market decline appears to be Bitcoin price movement. The $90,000 level has been seen as a psychological barrier. Trading below $90,000 has been seen as a bearish signal by many investors, affecting market sentiment across the board.</p>
<p>Bitcoin is currently trading at $81,952, showing a slight recovery of 1.54% after bouncing off the support level at $80,000.</p>
<p>The <a href="https://captainaltcoin.com/expert-who-predicted-bitcoin-btc-last-bull-run-calls-rally-to-120k-when-to-buy-the-dip/" target="_blank" rel="noopener noreferrer nofollow">BTC price previously dropped below $84,000</a>, which has been identified as a resistance level. This confirms it as a key barrier to further upside momentum. If Bitcoin manages to break and sustain above $84,000, it could indicate a potential bullish recovery.</p>
<p>In a bearish scenario, a drop below $80,000 could trigger significant <a href="https://www.bitstamp.net/learn/crypto-trading/understanding-market-sentiment-in-crypto-trading/" target="_blank" rel="noopener noreferrer nofollow">bearish sentiment</a>, potentially leading to further declines. If bears take control, the next possible downside targets could be $77,500 or even $75,000, depending on selling pressure.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/kaspa-kas-could-still-be-a-better-cryptocurrency-than-pi-coin-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Kaspa (KAS) Could Still Be a Better Cryptocurrency Than Pi Coin: Here’s Why</a></em></strong></p>
<h2 class="wp-block-heading" id="big-liquidations-causing-crypto-market-dip">Big Liquidations Causing Crypto Market Dip</h2>
<p>The current market downturn has led to massive liquidations. Mikybull Crypto noted that we’re seeing the biggest liquidation event since the FTX crash. The market sentiment is currently at levels comparable to previous cycle’s historical lows. This could mean either more pain before the bottom formation or that the bottom is already in.</p>
<blockquote class="twitter-tweet">
 <p lang="en" dir="ltr">Biggest liquidation than the FTX crash <br><br>The market sentiment is at this level with the previous cycle's historical low.<br><br>Either more pain before the bottom formation or the bottom is in. <a href="https://t.co/ykdA8O97oO" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/ykdA8O97oO</a></p>— Mikybull <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;">Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1899028846097129953?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 10, 2025</a>
</blockquote>
<p>Adding to this perspective, <a href="https://x.com/rovercrc/status/1899021659115581639?s=46" target="_blank" rel="noopener noreferrer nofollow">Crypto Rover</a> reported that this event marks the biggest Bitcoin longs wipeout since the Celsius and FTX crypto crash, attributing some of the market sentiment shift to political factors related to the Trump administration.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="568" src="https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-1024x568.png" alt="" class="wp-image-647004" srcset="https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-1024x568.png 1024w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-300x166.png 300w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-767x425.png 767w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-1536x852.png 1536w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-2048x1136.png 2048w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-271x150.png 271w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-631x350.png 631w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293-788x436.png 788w, https://captainaltcoin.com/wp-content/uploads/2025/03/image-293.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>These liquidations have amplified the downward pressure on prices as leveraged positions are forcibly closed, creating a cascade effect throughout the market. When large numbers of long positions are liquidated simultaneously, it typically leads to sharp price drops as seen in today’s market activity.</p>
<p><em><strong>Follow us on <a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>, <a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap </a>and <a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a> for more daily crypto updates.<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. <a href="https://www.etoro.com/customer-service/terms-conditions/trading-restriction/" target="_blank" rel="noopener noreferrer nofollow">Take 2 mins to learn more</a></strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-39/" rel="noopener noreferrer nofollow">Why Is the Crypto Market Down Today?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is the Crypto Market Down Today?

Table of Contents

CaptainAltcoin

Other articles published on Mar 10, 2025

XRP’s Push to $10: Bitcoin & These 5 Altcoins Are on the Verge of a Breakout!

Best Cryptos To Buy and Hold for Short Term: Qubetics Aims for 132% ROI, Render’s Cloud Computing...

BBVA gets regulatory nod to offer Bitcoin and Ether trading in Spain

Crucial Update: Cayman Islands’ Transformative Crypto Licensing Rules Arrive April 1

MicroStrategy Plans to Raise $21 Billion for Bitcoin Investments

Bitcoin’s RSI Signals Potential Price Surge

Join our free newsletter for daily crypto updates!