Bitcoin price was quoted at $82.250,20 on 29/03/2025, BTC is down 3% in the last 24 hours
At the end of a week that had started promisingly for Bitcoin, the scenario changed drastically. The leading digital asset, which had shown signs of recovery, regressed, erasing all recent gains and falling to values close to US$ 82.000.
Along with Bitcoin, altcoins are also experiencing a turbulent phase. Ethereum (ETH), for example, saw its value plummet to below $1.900, and Ripple (XRP) is now well below $2,15. This sharp drop in the value of the major cryptocurrencies shows a downward market trend, worrying investors.
Bitcoin made a significant rally earlier this week, approaching $89.000. This surge was fueled by a wave of optimism that permeated the market, with inflows into ETFs seemingly favorable. However, resistance in the $88.000 to $89.000 range proved to be an insurmountable challenge.
Starting on Friday, the situation worsened. Bitcoin not only fell from its stable position, but continued its decline, hitting $82.200, its lowest value since the previous Friday. With this, all of the week’s highs were erased, and the asset is now struggling to stay above $83.000. Despite this scenario, its market dominance increased to 59,1%, evidencing a migration of capital from altcoins to Bitcoin, in search of refuge.
Cryptocurrency analyst Michael van de Poppe commented on the current price of Bitcoin; he said:
It seems vital that we are seeing more downward momentum in the markets for #Bitcoin. The trend is still lower highs and lower lows. Test the lows before reversing higher?
The chart shared by the trader displays the possibility of Bitcoin bottoming out near $76 again, and this would be a trigger for a possible price reversal.
Cryptocurrencies Today
As for altcoins, it’s not just Ethereum and XRP that are seeing a 2-4% drop. Coins like Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Toncoin (TON), and Sui (SUI) have also seen notable losses, some of which have fallen by more than 6% in a single day. This broadened negative movement reflects the overall market volatility, which has seen the total market cap drop significantly to $2,810 trillion, down nearly $200 billion from its peak this week.