Bitcoin drops to $80,000, losing $110 billion from market cap in 24 hours

On March 9, 2025, the price of bitcoin ( BTC ) fell to an intraday low of $80,000, down 6.6% against the greenback. At press time, 7:35 p.m. Eastern Time on Sunday, the price was still near $80,500, bringing a market cap of about $1.59 trillion. Since Friday, BTC's market valuation has been cut by about $200 billion, of which $110 billion has fallen within the last 24 hours. The BTC price also fell by about $6,000. This weekend's decline in bitcoin prices was shaped by the market's reaction to President Trump's executive order on the Strategic Bitcoin Reserve, a move that discouraged investors.

Indications that prevailing economic uncertainties, including the U.S. tariff war, also play a role in price movements. Experts predict that short-term corrections may continue until mid-April, driven by a stronger US dollar and Federal Reserve policies. Today, $201 million in BTC long positions were liquidated, and in the broader crypto economy, $582.86 million was wiped out, including $522.95 million in long positions. In addition to BTC, alternative digital assets such as SOL, ETH, XRP, and DOGE also shook along with the top crypto assets. The crypto market economy is currently at $2.65 trillion after losing 6.42% today.