Bitcoin falls below $80,000: what is happening in the crypto market after Trump's statements
Kyiv • UNN
Bitcoin dropped by 2.4% to $80,289 following Trump's announcement of a national cryptocurrency reserve. Other cryptocurrencies are also showing declines, including ETH, XRP, Solana, and Cardano.
The price of the main cryptocurrency is falling for the fifth session in a row due to the slowdown of international stock markets.
Reports UNN with this link to Investing and Coindesk.
Bitcoin begins the second week of March in a turbulent zone, recording one of the worst weekly performances in history. The world's largest cryptocurrency fell by 2.4% to $80,289.1 by 01:50 Eastern Time, having previously dropped to $76,677.1.
Broader crypto markets also fell, as the recently announced national reserve by Trump generated little enthusiasm. The cryptocurrency summit held last week at the White House provided no hints about Trump's regulatory plans.
Ethereum blockchain's Ether (ETH) briefly fell below $2000, with trading reported at the lowest price since November 2023. Currently, Ether has recorded a decline of approximately 4%.
XRP, Solana, and Cardano lost between 1.6% and 3.1%.
Among meme tokens, Dogecoin fell by 7.9%, while $TRUMP reached a record low below $10.
Comment
Until cryptocurrency finds a new narrative, we are likely to see an increase in correlation between BTC and stocks in the near term. Both risk assets are currently trading NOT FAR from their recent lows, and as tariff risks remain present, volatility may increase ahead of the release of key U.S. macroeconomic data