Bitcoin Drops to $83K as Crypto Market Sees $1.04B in Liquidations
The crypto market saw a sharp correction in the past 24 hours, with Bitcoin (BTC) falling to $83,000 and $1.04 billion in liquidations across the market.
Key Takeaways:
Bitcoin slid from $94,416 to $83,000, erasing recent gains.
Altcoins like ADA, XRP, and SOL dropped over 20%.
Liquidation cascade amplified losses, wiping out leveraged positions.
Can the market stabilize, or is further downside ahead? Let’s dive in.
What Caused Bitcoin’s Drop to $83K?
Key Factors Behind the Market Correction
Macro Uncertainty: Trump’s proposed 25% tariffs on Mexico and Canada spooked investors, raising concerns over global financial conditions.
ETF Outflows: February saw $3.5 billion in Bitcoin ETF outflows, weakening bullish momentum.
Leveraged Liquidations: The $1.04 billion in liquidations triggered a chain reaction of forced selling.
Profit-Taking: After Trump’s Crypto Reserve announcement, traders locked in gains, leading to a “sell the news” effect.
“Macro fears + liquidation cascades = recipe for volatility. Bitcoin holding $80K is key for short-term sentiment.”
The correction wiped out much of the bullish momentum from earlier this month, but some signs of recovery are emerging.
Market Impact: Altcoins See 20%+ Losses
How Altcoins Fared in the Drop (24-Hour Performance)
| Asset | High Before Drop | Lowest Price (Past 24H) | % Decline |
|---|---|---|---|
| Bitcoin (BTC) | $94,416 | $83,000 | -12% |
| Ethereum (ETH) | $3,180 | $2,890 | -9% |
| Cardano (ADA) | $0.78 | $0.60 | -23% |
| Ripple (XRP) | $2.55 | $2.07 | -22% |
| Solana (SOL) | $263 | $190 | -20% |
“Biggest hit? Cardano and XRP. SOL’s upcoming 11.2M token unlock could add more pressure.”
Altcoins, especially those in Trump’s Crypto Reserve (ADA, XRP, SOL), were among the hardest hit, but some recovery attempts have been seen.
Liquidation Breakdown: Who Lost the Most?
Total Liquidations: $1.04B in the Last 24 Hours
Bitcoin (BTC): ~$300M liquidated, primarily long positions.
Ethereum (ETH): ~$223M, the highest among altcoins.
Solana (SOL): ~$180M, as traders unwound leveraged bets.
XRP & ADA: Combined ~$140M, reflecting the broader sell-off.
“Leverage remains a double-edged sword. Over $1B wiped out in a single day.”
Leverage-fueled trading continues to be a major factor in crypto volatility.
Can Bitcoin Hold $80K? Key Technical Levels
Support & Resistance to Watch
| Asset | Major Support | Major Resistance |
|---|---|---|
| Bitcoin (BTC) | $80,000 | $85,000-$90,000 |
| Ethereum (ETH) | $2,850 | $3,200 |
| Cardano (ADA) | $0.58 | $0.72 |
| Ripple (XRP) | $2.00 | $2.35 |
| Solana (SOL) | $180 | $210 |
“Bitcoin below $80K could accelerate the drop to $75K-$78K. Holding this level is key for sentiment.”
If Bitcoin stays above $80K, a short-term recovery is possible. If not, we could see further downside.
What’s Next? Potential Recovery or More Volatility?
Key Upcoming Events:
✔ March 7: Trump’s Crypto Summit – Could provide clarity on regulatory stance.
✔ March 8: U.S. Jobs Report – Could impact risk asset sentiment.
✔ March 11: CPI Inflation Data – If inflation stays high, Fed rate cut expectations may shift.
“Bitcoin’s next move depends on macro trends + Trump’s crypto policies.”
Short-term recovery is possible, but macroeconomic uncertainty remains a key risk factor.
Final Thoughts: Is This a Buying Opportunity or a Warning Sign?
Bullish Case:
✔ Bitcoin’s RSI nearing oversold, signaling a potential bounce.
✔ $80K support could hold, leading to recovery toward $90K.
✔ Trump’s crypto-friendly policies could restore investor confidence.
Bearish Case:
❌ Further downside if Bitcoin breaks below $80K.
❌ ETF outflows and macro risks could prolong selling pressure.
❌ Liquidation cascades could trigger another wave of losses.
What’s Your Take?
Will Bitcoin recover, or is a deeper correction ahead? Drop your thoughts below!
