On March 9, 2025, the price of bitcoin (BTC) dropped to a low of $80,000, falling by 6.6% against the US dollar. As of 7:35 p.m. ET on Sunday, the price is around $80,500, and the market cap is about $1.59 trillion. Since Friday, bitcoin’s market value has dropped by around $200 billion, with $110 billion of that coming in just the past 24 hours. BTC’s price also fell by about $6,000. The price drop this weekend was largely caused by the market’s reaction to President Trump’s executive order on the Strategic Bitcoin Reserve, which left investors worried.
Economic factors, including the ongoing trade tensions between the U.S. and other countries, are also affecting bitcoin’s price. Experts expect more short-term changes until mid-April, mainly due to a stronger U.S. dollar and Federal Reserve actions. Today, $201 million in BTC long positions were liquidated, and overall, $582.86 million was lost in the crypto market, including $522.95 million in long positions. Along with BTC, other cryptocurrencies like SOL, ETH, XRP, and DOGE also dropped in value. The total crypto market now stands at $2.65 trillion, down 6.42% today.
