Bitcoin’s price tumbled to $82,267 late Sunday night, marking a 5% decline over the past 24 hours, according to market data obtained on Monday. This downturn reflects the broader instability in the cryptocurrency market, which saw a collective 5% drop, reducing its total valuation to approximately $2.77 trillion.
The slump wasn’t limited to Bitcoin alone. Ethereum experienced a 5% decline, trading near the $2,000 mark, while Solana took a heavier hit with a 7% drop. XRP also saw a 5% decline.
Solana, in particular, has been facing significant outflows, with over $485 million in investor capital shifting towards Ethereum, Arbitrum, and the BNB Chain in February.
According to a Binance Research report shared with Cointelegraph, this migration reflects a broader trend of investors seeking “safer” assets amid ongoing market turbulence.
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Since the beginning of 2025, the total cryptocurrency market capitalization has plummeted by nearly 17%, driven by a combination of factors, including concerns over economic policies and a surge in memecoin-related scams. These scams have further shaken investor confidence, leading many to reallocate funds to more stable assets.
Despite the broader market decline, Bitcoin’s dominance remains resilient at 58.2%. However, the downturn has triggered massive liquidations across the market.
According to Coinglass data, a staggering $616 million was liquidated over the past 24 hours, with long positions accounting for the bulk of the losses at $540.49 million. Bitcoin alone contributed to $231 million in liquidations, highlighting the extent of the market’s volatility.
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The Chicago Mercantile Exchange (CME) Bitcoin futures market also mirrored this instability. On March 10, Bitcoin futures opened at $82,110, down significantly from the previous day’s close of $86,430—a $4,320 drop. This decline follows a record $10,350 plunge on March 3, marking the second-largest single-day drop in CME futures this month.
Adding to the uncertainty, U.S. President Donald Trump’s recent remarks have fueled concerns among investors. During a Fox News interview on March 9, Trump acknowledged that his economic policies could bring “temporary economic pain.”
His discussions on budget cuts and trade tariffs have heightened fears of increased market volatility, causing a ripple effect across both the cryptocurrency and traditional financial markets.
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