Why Crypto is Crashing? Bitcoin News, Pi Network Price, Nvidia Stock Plunge

March 10, 2025 09:11:15 UTC

Bloomberg Analyst Predicts How Low Will Bitcoin Price Drop?

Bloomberg’s senior commodity strategist Mike McGlone warned that Bitcoin might plunge to $70,000 amid renewed market fear. Despite excitement over the U.S. strategic Bitcoin reserve, Bitcoin-to-gold ratio has dropped to 28X and may fall to 21X, signaling underperformance. McGlone noted that if the U.S. stock market reverses some of last year’s $12 trillion advance, Bitcoin could continue to struggle. Anti-crypto commentator Peter Schiff believes the current correction is overdue and may persist through the decade.

March 10, 2025 08:51:06 UTC

Why is Crypto Going Down?

The total crypto market cap fell by $148 billion in the past 24 hours as investor sentiment turned sharply negative. Concerns over US President Donald Trump’s ambiguous stance on a potential recession fueled uncertainty in financial markets. This lack of clear direction triggered widespread sell-offs, forcing major digital assets into decline, with Bitcoin dropping to $80,000 and Ether slipping below $2,000. Combined with broader macroeconomic worries, these factors have led to today’s steep downturn in the crypto market indeed.

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