The cryptocurrency market is experiencing a sharp correction as Bitcoin continues its deep decline toward $80,000, dragging multiple altcoins down with it.

Bitcoin Plunges to $80K – Crypto Market Shaken by U.S. Recession Fears

Bitcoin Drops to $80,000 Again

On March 10, Bitcoin continued its downtrend, falling over 4.2% in the past 24 hours to reach $82,400. At one point, BTC hit a low of $80,200, just days after a brief recovery driven by Canada’s renewed trade negotiations with the U.S.

Bitcoin price movements over the past 30 days, screenshot from CoinGecko at 12:30 PM on March 10, 2025

Ethereum was not spared from the sell-off, losing 5.3% in the past 24 hours and plunging 35% over the month. ETH continues to hit new lows in 2025, currently trading around $2,072, its lowest level since December 2023.

Ethereum price movements over the past 30 days, screenshot from CoinGecko at 12:33 PM on March 10, 2025

The entire altcoin market is in deep red, with losses ranging from 7-10% in the last 24 hours.

Top 100 cryptocurrencies by market cap, screenshot from CryptoBubbles at 12:40 PM on March 10, 2025

Amidst the overall market downturn, the IP token of Story Protocol and ENA of Ethena were the only bright spots, recording gains of 9.2% and 5.4%, respectively, in the past 24 hours.

Top-performing tokens in the past 24 hours, screenshot from CoinGecko at 12:45 PM on March 10, 2025

The Fear & Greed Index is at 20 – indicating “extreme fear,” reflecting ongoing market anxiety since February 28, when Bitcoin first dropped below $80,000 since November 2024.

Bitcoin Dominance – the ratio of Bitcoin’s market cap to the entire cryptocurrency market – surged to 64.29% on March 10, marking its highest level in over four years since January 2021. This suggests investors are shifting away from altcoins and prioritizing Bitcoin as a safer asset amid heightened market volatility.

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