BTC Plummets to $77k as crypto markets erases Trump Euphoria
BTC Plummets to $77k as crypto markets erases Trump Euphoria By Manoj Dharra
Bitcoin recovered from a four-month low as falling Treasury yields encouraged some traders to snap up cryptocurrencies hit by the recent selloff in risk assets. Cryptocurrencies slid as fears over a selloff in US equities eclipsed President Donald Trump’s recent efforts to buttress the industry. As Bitcoin fell to a multi-month low on Tuesday as miner transfers to exchanges surged sharply. According to CryptoQuant, BTC’s Miner-to-Exchange Flow—which measures the total amount of coins sent from miner wallets to exchanges—spiked to 11,250 BTC during this period. BTC fell to $76,600 levels, recovered to trade 0.5% lower at $81,770, rebounding from a sharp selloff. Ether, which had tumbled to the lowest point since October 2023, also recovered and was now trading 9.5% down at $1912. The initial declines came after a selloff in US equities led by technology stocks picked up steam. The tech-heavy Nasdaq 100 Index plunged 3.8% for its worst day since October 2022. Cryptocurrencies had been dragged down along with other risky assets by concerns that US President Donald Trump’s trade tariffs against other nations could trigger a downturn in the world’s largest economy. Market participants believe that this wave of risk-off sentiment has driven 10-year Treasury yields down by around 60 bps and weakened the US dollar — a historically positive factor for USD-denominated risk assets like US equities and crypto. Trump ordered the creation of a US Bitcoin reserve and a separate stockpile of other tokens ahead of a high-profile crypto summit with industry executives in Washington on March 7 — much-touted moves that ultimately did little to lift market sentiment. Analysts in the crypto universe are divided, with a few believing that the market now appears to be negatively reacting to the reserve announcement, while others opine that this correction in the markets is really an exaggeration as markets have now entered a deeply oversold zone. The order authorized the Treasury and Commerce departments to develop “budget-neutral strategies” for buying more Bitcoin, meaning the government will not acquire additional crypto for the stockpile, and since then the markets have been trading with weakness. Since February 2025, investors have drawn out around $4.4 billion from US Bitcoin exchange-traded funds (ETFs). Overall, the crypto market has lost more than $1 trillion in market capitalization from its peak, CoinGecko showed. Crypto-linked stocks also slumped — Coinbase Global fell 18%, its biggest decline since July 2022, and Michael Saylor’s levered Bitcoin proxy Strategy lost 17%, according to a Bloomberg report. XRP, BNB, Solana, ADA, and Doge all fell between 2-7% in today’s trade.
Looking Ahead: Some analysts remain optimistic, suggesting that Bitcoin’s current dip could be a retest before a potential rebound to higher levels. Your Move: In these volatile times, staying informed is crucial. Make decisions that align with your investment strategy. Bankrupt Cryptocurrency Exchange Mt. Gox Transferred 11,501 BTC to an Unknown Wallet! Could a Sale Be Coming? That development has to be watched…
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