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This Week’s Summary
- The crypto market ends the week at a total market capitalization of $2.78 trillion.
- Bitcoin dropped to around $84,000 after a 1.5% drop.
- Ethereum is down by over 4% to trade at around $2,150.
- XRP is down by 1%, Solana by 5%, and Dogecoin by 11%.
- Almost all altcoins are trading in the red, with very few exceptions.
- The DeFi sector decreased the total value of protocols (TVL) to around $95 billion.
Crypto Trends 3 – 9 Mar 2025: Market Analysis and Performance
The crypto market closes yet another hectic week that saw most assets go on a FUD-induced rollercoaster ride. The market reacted promptly to every news and rumor, especially those coming from the US. Rumors that the US will build a reserve of Bitcoin and altcoins drive prices up mid-week. However, on Thursday, the US President, Donald Trump, signed an executive order specifying only that the government will not sell its BTC reserves for now. The underwhelming news drove prices into the red again. Meanwhile, the market capitalization decreased by over $60 billion, dropping further below the hard-earned $3 trillion threshold.
Bitcoin lost nearly 2% in value this week. The king of cryptocurrencies is far from battling for the $100,000 level. However, it looked like it was ready to climb back there for a short spell. Unfortunately, the extreme volatility brought it back down, as did the investors’ hopes. Currently, Bitcoin is trading at around $84,000.
Ethereum continues to drop, albeit not by much. The second crypto in command lost over 4% this week, going closer to the lowest part of the $2k level. If this trend continues, we could soon see Ethereum below the hard-earned threshold.
Altcoins & DeFi
Most altcoins are trading in the red, with almost no exceptions. For example, XRP is down by 1%, taking its value to $2.23. Elsewhere, Solana is down by 5%, BNB by 4%, Chainlink by 1%, Avalanche by 11%, Stellar by 15%, Litecoin by 20%, and Sui by 14%. Meanwhile, Cardano is riding high on the back of a 10% value boost.
The memecoins are not faring better either. For instance, Dogecoin is down by 11%, Shiba Inu by 10%, and Pepecoin by 20%.
The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is down by 11%, Render by 13%, and Stacks by 16%. Moreover, Virtuals decreased by 34%, The Sandbox by 9%, Decentraland by 7%, and Floki by 20%.
The DeFi sector lost over $2 billion from the total value of locked protocols (TVL), now $94.98 billion.
Crypto Market Analysis – What’s in the News?
- El Salvadoran president Nayib Bukele maintains his country’s commitment to BTC investments despite applying for a loan from the International Monetary Fund (IMF).
- The hacker who stole over $1.4 billion from Bybit managed to launder the funds in less than two weeks after hacking the crypto exchange.
Next Week’s Crypto Market Forecast
The crypto market faces challenging times that keep new investors at bay and force veteran traders to shut their wallets tightly. The FUD reigns across the crypto sector, sparking a general negative sentiment. Hopefully, the trend will reverse soon.
The post WMA: Bitcoin Dips Again as the Market Takes Hectic Rollercoaster Ride appeared first on Crypto Adventure.
