On March 9, 2025, the price of Bitcoin (BTC) fell to an intraday low of $80,000, down 6.6% against the USD. At 7:35 p.m. ET, BTC was still hovering around $80,500, bringing the market capitalization down to around $1.59 trillion. Since Friday, Bitcoin's market valuation has evaporated by about $200 billion, with $110 billion of that lost in the past 24 hours alone. BTC's price has dropped by about $6,000 since the previous day.

This sharp price drop is believed to be the market's reaction to President Donald Trump's executive order to establish a Strategic Bitcoin Reserve. This policy has caused confusion among investors, leading to negative market sentiment. In addition, economic uncertainties, including the trade war between the US and its international partners, have also contributed to price fluctuations.

BTC/USD 1H Bitstamp chart as of March 9, 2025.

Analysts predict that the correction may last until mid-April, fueled by the strengthening of the US dollar and the monetary policy of the US Federal Reserve (Fed). A total of $201 million worth of Bitcoin long positions were liquidated today. Across the entire cryptocurrency market, more than $582.86 million was wiped out, of which $522.95 million was in long positions.

Not only Bitcoin was affected, many major altcoins such as Solana (SOL), Ethereum (ETH), XRP and Dogecoin (DOGE) also fell sharply in price following the general decline. Currently, the total cryptocurrency market capitalization has dropped to $2.65 trillion, losing 6.42% today alone.

In the volatile market, investors are closely watching the next developments of Bitcoin as well as economic policies that may affect the cryptocurrency trend in the coming time.