Crypto Prices Today: $800M Wiped as BTC, ETH, XRP Price Crash, What's Next for Altcoins?

Technology

$800M Wiped as BTC, ETH, XRP Price Crash, What’s Next for Altcoins? – Crypto News

Published

1 year ago

March 4, 2025

Dripp

Crypto prices dropped sharply on March 4, erasing $800 million from the market. The total market cap slipped below $3 trillion, settling at $2.77 trillion, a 9% decline. Trading volume also decreased by 14% to $177 billion. Bitcoin, Ethereum, and XRP initially surged after Trump’s announcement of a crypto reserve on Sunday. However, the market reversed sharply as new tariffs on Mexico and Canada took effect.

Trump’s trade policies and growing recession fears led to heavy sell-offs. Bitcoin faced downward pressure due to CME gaps and institutional liquidations crashing by 10%. Altcoin, like ETH, has decreased by 15% and XRP by 17%, following the trend.

Crypto Prices Dip as BTC Fails to Hold Above $85K Support

Bitcoin price dropped over 10% today from a peak of $93,664. Earlier, Bitcoin saw gains as institutional demand grew after U.S. President Donald Trump revealed a crypto reserve. However, the market momentum shifted as bearish sentiment intensified, leading to a sharp decline in value.

Despite the surge, the CME Bitcoin futures chart showed a notable gap, suggesting a potential price drop. This gap, known as a CME gap, typically signals a price correction as it is often revisited. BTC price hovered at $83,973, indicating a downtrend in the past 24 hours, making it the lowest point this month.

Will ETH Price Break Below $2k Support Level?

Over the last 24 hours, Ethereum price has seen a notable decrease, hovering below the $2,200 support level following other crypto coins. This follows a brief rally, where Ether surged by 15% after the announcement of the U.S. Crypto Strategic Reserve on Sunday.

However, despite its inclusion in the reserve, ETH faces continued sell-offs amidst broader market uncertainty. Crypto prices across the board have been fluctuating, and altcoins are also seeing similar price struggles. If this trend persists, ETH could dip below $2,000.

XRP Price Sees Major Fluctuations

XRP is now trading at $2.35, reflecting a 17% drop within the past 24 hours. Ripple price climbed by more than 20%% after being included in the U.S. Crypto Strategic Reserve. However, this surge was short-lived.

Current market data shows XRP has maintained a sideway position because investors maintain a cautious stance due to price swings. Numerous whales have surged their purchases of XRP during the past 24 hours, reaching nearly 1 billion XRP.

The total amount of XRP held in whale wallets reached approximately 1 billion during a 24-hour timespan. The increased buying from Whale wallets indicates powerful market demand that might influence price trends. The upward price movement becomes more probable when purchase activity intensifies because it decreases market sellers.

What’s Next for Altcoins?

BTC price must stabilize above $82,500 to halt further declines. If Bitcoin’s downtrend pauses, altcoins could regain momentum. Otherwise, most altcoins may continue to struggle, except ETH, SOL, XRP, and ADA, which remain on Trump’s reserve list.