Crypto Market Update: Bitcoin and Ethereum Prices Plummet While Cardano Soars on March 4, 2025
On March 4, 2025, the cryptocurrency market saw Bitcoin and Ethereum decline sharply by 9.48% and 13.91%, respectively, influenced by new U.S. tariffs. Conversely, Cardano surged nearly 60% after its inclusion in the U.S. Strategic Crypto Reserve. Other cryptos like Dogecoin, XRP, and Litecoin also faced significant losses amid a bearish trend.
On March 4, 2025, the cryptocurrency market witnessed significant fluctuations, highlighted by Bitcoin and Ethereum’s notable price declines. Despite an overall downturn, Cardano (ADA) emerged as the top gainer, surging nearly 60% after being added to the U.S. Strategic Crypto Reserve. This development bolstered investor confidence in ADA, contrasting sharply with the losses experienced by other major cryptocurrencies.
Bitcoin (BTC), the leading cryptocurrency, experienced a 9.48% decline, with its price falling to $84,148.33. The downturn coincided with the introduction of new tariffs by the Trump administration on trading partners, including Canada, Mexico, and China, which intensified global trade tensions.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, faced a 13.91% drop, settling at $2,103.06. Similar to Bitcoin, Ethereum’s earlier gains following the Strategic Crypto Reserve announcement were short-lived, as investor sentiment shifted due to broader economic uncertainties.
Other cryptocurrencies also saw declines; Dogecoin (DOGE) fell by 15.14% to a price of $0.1931 amid the bearish market trend. Litecoin (LTC) recorded a 14.51% drop, trading at $104.80, while Ripple (XRP) suffered a significant decrease of 16.55%, bringing its price down to $2.34. Despite XRP’s inclusion in the Strategic Crypto Reserve, it failed to maintain its gains, illustrating the volatility of the market.
Similarly, Solana (SOL) experienced initial gains from its inclusion in the Strategic Crypto Reserve, only to retract as broader market corrections took place. The influential dynamics affecting these cryptocurrencies highlight the complexities of trading in a fluctuating economic environment. The sentiment surrounding new U.S. tariffs is indicative of investor reactions that further shaped the market’s path.
In summary, March 4, 2025, marked a challenging day for the cryptocurrency market, with major cryptocurrencies such as Bitcoin and Ethereum experiencing significant declines. Meanwhile, Cardano was the standout performer, reflecting the varied reactions to recent economic policy changes. The contrasting fortunes of these cryptocurrencies demonstrate the unpredictable nature of the crypto market, particularly in response to geopolitical developments.
Original Source: m.economictimes.com
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