Crypto Market in Freefall! What’s Behind Today’s (10/3/25) Sharp Plunge?

Jakarta, Pintu News – The crypto market experienced another massive selloff on Sunday, with Bitcoin BTC0.62%->Current BTC PriceRp 1.380.283.0250.62%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 nearing its 2025 low of around $78,000.

According to a report by Coinpedia, BTC has dropped over 11% in the past week, erasing most of its previous gains. Currently, Bitcoin is trading at $82,176, registering a drop of more than 4% in the last 24 hours.

Other major crypto assets also saw significant declines, with Solana (SOL) and XRP XRP1.53%->Current XRP PriceRp 38.2871.53%Market CapRp 2.308 TriliunTrading VolumeRp 262,59 TriliunCirculating SupplyRp 57,18 Miliar losing 7%, while Ethereum ETH2.40%->Current ETH PriceRp 32.153.3962.40%Market CapRp 7.444 TriliunTrading VolumeRp 594,65 TriliunCirculating SupplyRp 120.452.072 fell 8%, inching closer to the $2,000 psychological level.

On the other hand, Cardano ADA1.41%->Current ADA PriceRp 11.8581.41%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 and Dogecoin DOGE0.69%->Current DOGE PriceRp 2.7890.69%Market CapRp 0Trading VolumeRp 0Circulating SupplyRp 0 took a bigger hit, with drops of almost 7% and 9% respectively. With the market continuing to weaken, is this the start of a deeper correction or an opportunity for investors to step in?

Crypto Market Slumps Again

Reporting from BeInCrypto (10/3/25), the total crypto market capitalization plummeted by $148 billion in the last 24 hours as investor sentiment weakened. Concerns arose after US President Donald Trump’s vague stance on a possible recession fueled uncertainty in global financial markets.

Read also: Pi Coin Drops 7% – How Much is Pi Network Worth in Rupiah Today (10/3/25)?

As a result, the crypto market experienced massive selling pressure that resulted in a drop in the prices of major digital assets.

At its lowest point in daily trading, the total crypto market capitalization (TOTAL) briefly touched $2.59 trillion before recovering slightly to $2.65 trillion. However, market conditions are still fragile, and in the absence of strong support, TOTAL risks dropping below the crucial $2.58 trillion level.

The recovery scenario depends on whether the crypto market capitalization is able to stay above $2.63 trillion. If this level can be maintained, bullish momentum could potentially build, pushing the market capitalization towards $2.75 trillion.

Breaking the resistance level will invalidate bearish concerns and open up further rally opportunities.

Trump Says There May Be Some Disruptions

In a recent interview with Fox News, President Donald Trump was asked about the possibility of a recession in 2025.

Read also: AI Crypto Boom: 3 AI Coins That Are Soaring This Week!

Trump gave a cautious answer, saying,

“I don’t like to predict things like that. Right now we’re in transition, because what we’re doing is huge – we’re bringing wealth back to America. That takes a little bit of time.”

However, US Commerce Secretary Howard Lutnick strongly denied fears of an economic slowdown. When asked if the American public should be worried, he replied with a resounding, “Absolutely not.”

Trump also discussed the potential impact of his economic policies, including trade tariffs and budget cuts. He acknowledged that there would be some disruption in the short term, but emphasized that the measures were part of his long-term vision.

“There might be a little disruption. China has a 100-year plan, while we only focus on quarterly results. What we are doing now is building the foundation for the future,” Trump said.

Trump’s Approach Compared to Former Fed Chair

Donald Trump’s comments earned the nickname “Volckering” on social media, referring to the strategy of former Federal Reserve Chairman Paul Volcker in the 1980s.

Volcker raised interest rates to extreme levels to suppress prolonged inflation, even though the move was expected to trigger a harsh recession. However, his tight policy successfully curbed inflation and paved the way for long-term economic growth.

This comparison shows that Trump’s policies, while causing current disruptions, may bring long-term benefits to the US economy.

On the other hand, Bitcoin prices have declined as trade tensions between the US and China escalate, which are expected to worsen on Monday.

Beijing has announced retaliatory tariffs on US agricultural products in response to the latest import tariff hike imposed by Trump. This situation has further exacerbated market uncertainty and increased volatility in the global financial sector.

Bitcoin Potentially Drops to Lower Levels

BitMEX co-founder Arthur Hayes warned that Bitcoin (BTC) could experience further declines, with the possibility of retesting the $78,000 level.

Read also: Bitcoin Price Crashes to $82,000 Today (March 10, 2025) – What’s Behind the Drop?

He noted that many Bitcoin options are trading within the $70,000 to $75,000 price range, which could potentially increase volatility if BTC enters that range.

On Friday, Federal Reserve Chairman, Jerome Powell, emphasized that the central bank will remain cautious in determining interest rates while evaluating the impact of Donald Trump’s policies.

His statement came after the weak US Non-Farm Payrolls (NFP) report, which further strengthened expectations that the Fed will cut interest rates at least three times this year.

Now, traders are focusing on important economic reports due out this week, including the US Consumer Price Index (CPI) on March 12 and the US Producer Price Index (PPI) on March 13. These data are expected to influence the direction in which Bitcoin moves next.

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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:

• BeInCrypto. Why Is the Crypto Market Down Today? Accessed on March 10, 2025
• Coinpedia. Why is Crypto Market Down Today? When Will it Recover? Accessed on March 10, 2025