Crypto Price News For March 11: Bitcoin Falls Below $80K As Market Struggles

The cryptocurrency market continues to face a tough day as Bitcoin and major altcoins suffer significant declines. Despite an earlier boost from President Trump's Bitcoin Reserve announcement, the broader market sentiment has shifted as traders respond to geopolitical concerns and a series of market challenges.

Coinmarketcap reports that the global crypto market cap has decreased by 3.29%, falling to $2.61 trillion. However, the overall market volume has risen sharply by 52.09%, hitting $157.61 billion. Despite these changes, the broader market is still facing challenges, with the CMC 100 Index showing a 3.15% decline in the last 24 hours.

Reasons Behind The Drop

The drop in prices today is mainly driven by Trump’s policies and market sentiment around crypto fund outflows. Trump's comments on potential short-term economic pain have made investors more cautious, with concerns over his trade tariffs and budget cuts spilling into the crypto market.

The pressure is also fueled by ongoing liquidations, with $650.80 million in the last 24 hours, mainly impacting long positions. Bitcoin and Ethereum saw the largest liquidations, totaling $264.22 million and $114.76 million, respectively, increasing market supply and pushing prices lower.

Additionally, $876 million in outflows from digital asset investment products were recorded in the week ending March 7, bringing total outflows to $4.75 billion in the last four weeks. This marks the fourth straight week of outflows, showing reduced institutional interest.

The Crypto Fear & Greed Index has fallen to 10, signaling "extreme fear" and highlighting investor anxiety about the market’s future.

Top Losers

Several major cryptocurrencies are affected by the market drop:

• Chainlink (LINK): -9.15%
• Ethereum (ETH): -8.35%
• Dogecoin (DOGE): -8.26%
• Litecoin (LTC): -7.90%
• Avalanche (AVAX): -7.43%
• Bitcoin Cash (BCH): -4.50%
• Shiba Inu (SHIB): -4.98%
• Solana (SOL): -3.23%
• XRP (XRP): -3.00%
• Cardano (ADA): -2.55%
• Bitcoin (BTC): -2.04%

Among the biggest losers today, Chainlink (LINK) saw the steepest decline, falling by 9.15%. This marks a further drop from its 7.64% loss yesterday. Ethereum (ETH) also continued its downward trend, with a significant loss of 8.35%, following a 5.33% drop on March 10.

Dogecoin (DOGE) and Avalanche (AVAX), which were major losers yesterday, also saw sharp declines today, dropping 8.26% and 7.43%, respectively. Litecoin (LTC) lost 7.90%, further contributing to the overall market decline.

Bitcoin Cash (BCH), which fell 6.46% yesterday, dropped by a smaller 4.50% today. XRP and Cardano (ADA) also posted more manageable losses of 3.00% and 2.55%, respectively.

Bitcoin (BTC) continues its bearish trend, losing 2.04% today after dropping 4.61% yesterday. Other cryptocurrencies, including Shiba Inu (SHIB) and Solana (SOL), also faced declines, with SHIB dropping by 4.98% and Solana by 3.23%.

While Binance Coin (BNB), which saw a relatively smaller loss of 3.53% yesterday, has taken an even smaller loss today, down just 1.28%. It suggests some resilience in its performance amid the broader market downturn and is likely tied to increased demand for trading fee discounts.

The ongoing decline mirrors capital outflows and investor caution amid geopolitical instability and regulatory uncertainty. Despite this, some analysts believe the market may find a bottom and recover once global tensions settle and regulations improve.