Bitcoin Price Slips Today (March 7) – BTC Dominance Declines as Investors Flock to Altcoin Ahead of White House Crypto Summit!

Jakarta, Pintu News – Bitcoin (BTC) price dropped on March 7, 2025, as BTC’s declining market dominance prompted investors to shift their capital to altcoins.

This decline comes amidst growing anticipation for the White House Crypto Summit, where market participants are hoping for a more digital asset-friendly regulatory policy.

With Bitcoin’s dominance continuing to weaken and altcoins starting to perform more strongly, will this trend continue after the summit?

Bitcoin Price Drops 2.87% in 24 Hours

On March 7, 2025, Bitcoin (BTC) was trading at $88,163 (approximately 1,449,977,776 IDR), marking a 2.87% decline over the past 24 hours. During this period, BTC hit a low of 1,395,532,614 IDR and reached a high of 1,518,852,851 IDR before pulling back.

According to CoinMarketCap, Bitcoin’s market capitalization has now risen to $1.74 trillion, with trading volume in the last 24 hours rising 14% to $57.94 billion.

Read also: Top 4 RWA Crypto with the Biggest Gains This Week!

Bitcoin faces strong resistance at $93,000, traders turn to altcoins

Reporting from Coingape, Bitcoin’s (BTC) performance on Thursday (6/3/25) was somewhat disappointing, even though bullish sentiment still dominates global financial markets, including the crypto industry.

On Wednesday (5/3), the price of BTC hit a local low of $81,400, before rebounding 14% after the US Secretary of Commerce hinted that Donald Trump might ease the 25% tariffs on Canada and Mexico.

However, the bulls’ attempt to maintain momentum ran into resistance at $92,790, which eventually prompted traders to shift their capital to other high-performing crypto assets.

Based on the latest data, the price of BTC has corrected to $88,000, signaling hesitation in the market ahead of major macroeconomic developments.

Bitcoin’s market dominance drops ahead of White House Crypto Summit

When Bitcoin (BTC) underperforms the overall crypto market, it often reflects changes in investor sentiment and risk appetite. In line with recent trends, the upcoming White House Crypto Summit is now the main focus of discussion among traders.

Since the announcement of the U.S. Crypto Strategic Reserve late last week, altcoins have performed stronger than Bitcoin, which only recorded a 13% gain. One of the most notable is Cardano (ADA), which jumped 100% in just 24 hours after the announcement.

Read also: Metaplanet Invests Another $44 Million in Bitcoin, Becomes Asia’s Largest BTC Holder!

Now, investors are waiting to see if the White House Crypto Summit will bring favorable regulatory policies or investment plans for US crypto reserves. If this happens, altcoins could potentially experience another big rally.

Data shows that Bitcoin’s (BTC.D) dominance has fallen 5% since Trump announced the Crypto Strategic Reserve on March 2.

On Thursday (6/3/25), BTC.D fell another 0.6% to 61.28%, signaling that investors are starting to shift their capital to altcoins, betting that regulatory clarity could drive greater short-term gains versus BTC.

Crypto Czar Trump Slams Biden Administration for Losing 4,500% BTC Profits!

David Sacks, who was just appointed Crypto Czar by Donald Trump, harshly criticized the Joe Biden administration for the huge financial mistake they made.

Sacks highlighted that in the past decade, the US government has auctioned 195,000 BTC for just $366 million, whereas if kept, it could be worth as much as $17 billion as Bitcoin’s price has increased by 4,500% since then.

“The Biden administration had a golden opportunity, but they squandered it,” David Sacks said, hinting that the 195,000 BTC could have become part of the US reserves on March 5, 2025.

With the White House Crypto Summit set to kick off in the next 24 hours, market expectations are growing that the Trump administration could introduce broader crypto-friendly policies, potentially changing the regulatory landscape of digital assets in the US.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Bitcoin Price Enters Risky Zone as Trump’s Crypto Czar blames Biden for missing 4,500% BTC profits. Accessed on March 7, 2025