.jpg)
On March 10, 2025, Bitcoin's price saw a significant decline of 6%, falling from $82,000 to $80,909 in just one day, despite a number of positive developments in the cryptocurrency market. This drop also impacted other major altcoins, including Ethereum (ETH), XRP, and Binance Coin (BNB), each of which experienced price decreases ranging from 5% to 7% over the last 24 hours.
Factors Affecting Bitcoin's Price Decline
1. Accumulation Action by 'Whales'
Despite the recent price decline, data indicates that large investors, often referred to as 'whales,' have been actively accumulating Bitcoin, purchasing over 22,000 BTC in just the last three days. This activity typically reflects long-term confidence in Bitcoin's value. However, in the short term, this accumulation has not been able to counteract the prevailing selling pressure.
2. Macroeconomic Pressure
Global macroeconomic conditions are contributing to the decline in Bitcoin's price. The United States has imposed new tariffs, leading to sell-offs in various risky assets, including cryptocurrencies. Furthermore, strong Non-Farm Payroll (NFP) reports have heightened expectations that the Federal Reserve will adopt tighter monetary policies. This could reduce market liquidity and negatively impact the prices of digital assets.
3. Regulatory Uncertainty
Following the announcement regarding the Bitcoin Strategic Reserve, investors are awaiting further clarity on the regulations to be implemented. This uncertainty creates a wait-and-see attitude among investors, which can delay purchasing decisions and add to selling pressure in the market.
Impact on the Altcoin Market
Bitcoin's price decline often affects other altcoins. In the last 24 hours, Ethereum (ETH), XRP, and Binance Coin (BNB) saw significant price drops, each decreasing by over 5% to 7%. This shows that negative sentiment in the Bitcoin market can impact the overall cryptocurrency market.t.
Is This a Healthy Correction or the Beginning of a Bearish Trend?
A 6% price drop in a single day raises the question of whether this is a healthy correction or the start of a longer bearish trend. Some analysts argue that such corrections are a natural part of the cryptocurrency market's volatility and can offer opportunities for investors to enter the market at lower prices. However, external factors like monetary policies and regulatory uncertainty should be continuously monitored, as they can influence the market's future direction.
In situations like this, it is crucial for investors to conduct thorough analyses and consider their risk tolerances before making investment decisions.
%201.png){kind=logo}
