Bitcoin’s price plummeted to $82,267 late Sunday night, marking a 5% decline over the past 24 hours, according to market data obtained on Monday.
The development comes as uncertainty surrounding U.S. President Donald Trump’s economic policies continues to ripple through the market.
The overall cryptocurrency market experienced a 5% drop, reducing its valuation to about $2.77 trillion.
Solana recorded 7% loss, while XRP recorded 5% losses, while Ethereum fell 5%, trading near the $2,000 mark.
In February, Solana experienced outflows exceeding $485 million, with investor capital primarily shifting to Ethereum, Arbitrum, and the BNB Chain. According to a Binance Research report shared with Cointelegraph, this capital exodus reflects a broader flight to “safety” among crypto market participants.
Solana has also been affected by the broader market downturn, with its price decline contributing to a nearly 17% drop in the total market capitalisation of all cryptocurrencies since the start of 2025.
The downturn has been further fueled by a wave of memecoin scams, prompting investors to seek safer assets.
Despite the downturn, Bitcoin’s dominance remains steady at 58.2%.
The market’s decline has triggered significant liquidations, with Coinglass data reporting $616 million in liquidations over the past 24 hours, according to Blockchain.com price tracker.
Long positions bore the brunt of the losses, amounting to $540.49 million, with Bitcoin alone accounting for $231 million in liquidations.
Adding to the market’s volatility, Bitcoin futures on the Chicago Mercantile Exchange (CME) opened at $82,110 on March 10, down $4,320 from the previous day’s close of $86,430. This follows a record $10,350 drop on March 3, marking the second-largest single-day plunge for CME futures this month.
The downturn was exacerbated by President Trump’s remarks during a March 9 Fox News interview, where he acknowledged that his economic policies would bring “temporary economic pain.” His comments on budget cuts and trade tariffs have heightened concerns about market volatility, prompting investors to exercise caution in cryptocurrency and other financial markets.
