Crypto Price News For March 4: Bitcoin Drops to $83K, ETH -12%, SOL -15%, ADA -19%

Another major crypto market crash has occurred, with most of the top 100 assets dropping in price. Bitcoin (BTC), Ethereum (ETH), and other major altcoins have taken significant hits, wiping out gains from the recent strategic crypto reserve announcement.

According to Coinmarketcap, the global crypto market cap is currently at $2.75T, with a 9.67% decrease over the last day. Also, the total crypto market volume has lessened by 3.51%, dropping to $185.65B. The overall market performance has also dropped, with the CMC 100 Index falling by 10.92% from yesterday and is now sitting at $166.44.

Source: Coinmarketcap.com

President Trump has largely contributed to this situation by confirming that 25% tariffs on Canada and Mexico will take effect on March 4, after hopes for another delay. Shortly after, the White House announced a 20% tariff hike on China, marking a 20% increase over the past two months. The last major tariff announcement in February triggered a crypto market sell-off, and today’s news appears to have had a similar impact.

Top Losers Today

• Bitcoin (BTC): -9.25%
• Ethereum (ETH): -12.38%
• Solana (SOL): -15.07%
• XRP (XRP): -12.78%
• Cardano (ADA): -19.73%
• Avalanche (AVAX): -14.82%
• Dogecoin (DOGE): -12.36%
• Chainlink (LINK): -15.11%
• Litecoin (LTC): -13.27%
• Binance Coin (BNB): -6.81%

Among the biggest losers, Cardano (ADA) was hit the hardest, plummeting 19.73%, making it the worst performer among the top 20 altcoins. Just a day before that, it was up 50% following the strategic reserve announcement.

Solana (SOL) and Chainlink (LINK) also saw sharp declines, dropping 15.07% and 15.11%, respectively. Avalanche (AVAX) lost 14.82%, while Dogecoin (DOGE) and Litecoin (LTC) dropped by 12.36% and 13.27%. XRP (XRP) mirrored the trend with a 12.78% fall.

Meanwhile, Bitcoin (BTC) has dropped 9.25%, plunging 11% from the $95K peak recorded on Sunday and is now trading at around $83K. Ethereum (ETH) dipped 12.38% and has now erased all of its post-reserve announcement gains. Before the news, ETH was trading at $2,170, but today it has plunged below the $2,100 mark for the first time in 14 months, dating back to November 2023.

Of the top 10 altcoins, Binance Coin and Tron (-3.40%) were the only assets to post losses under 10%. The relatively smaller loss for BNB may be due to increased demand for trading fee discounts as investors attempt to mitigate losses on high-volume sell orders. Tron’s (TRX) resilience could be linked to a surge in demand for its stablecoins because traders look to move their funds into less volatile assets amid the market turmoil.

With rising economic concerns, investors remain cautious as they wait to see whether the recent crash will trigger further sell-offs or present a buying opportunity in the coming days.