🌙 Bitcoin Plunges Below $79k

The cryptocurrency market continued to lose ground on Monday, following a decline on Friday driven by macroeconomic data that heightened concerns about rising inflation.

Author

Mike Gavela
March 10, 2025

Crypto Roundup - March 10

The cryptocurrency market has been experiencing notable fluctuations recently, largely influenced by economic factors and strategic decisions. Bitcoin's price dropped to $79,000 amid mounting inflation concerns, reflecting investor uncertainty about the global economic outlook. Additionally, the U.S. government's proposal to establish a Strategic Bitcoin Reserve was met with mixed reactions from the crypto community, with some viewing it as underwhelming. This initiative was anticipated to bolster the market but fell short of expectations, leading to a further decline in Bitcoin's price. Meanwhile, the U.S. Securities and Exchange Commission (SEC) is reconsidering its approach to expanding the definition of an "exchange," which could have significant implications for how cryptocurrencies are regulated and traded. This regulatory uncertainty adds another layer of complexity to the market's dynamics.

Top Stories

  • Bitcoin price falls sharply: Dropped to $79,000 as inflation concerns increase market volatility.

  • U.S. Strategic Bitcoin Reserve underwhelms: The market reacts negatively to what was deemed an inadequate governmental support measure.

  • SEC reevaluates crypto exchange definitions: Ongoing regulatory deliberations are influencing market stability and investor strategies.

TOP STORIES

Bitcoin Drops to $79,000 as Inflation Worries Mount - "The Defiant"

Liquidations surpass $667 million as macroeconomic uncertainty fuels a sell-off across global markets.

thedefiant.io/news/markets/bitcoin-drops-to-usd79-000-as-inflation-worries-mount

BTC Drops as U.S. Strategic Bitcoin Reserve Disappoints Traders - "The Defiant"

While most of the crypto community celebrated the landmark news, crypto markets sold off after it was revealed that the U.S. would not be buying Bitcoin.

thedefiant.io/news/markets/btc-drops-as-u-s-strategic-bitcoin-reserve-disappoints-traders

SEC Rethinks Whether to Expand 'Exchange' Definition to Include Crypto: Acting Chair - Decrypt

The SEC will assess how a proposal expanding the definition of an exchange can be modified to exclude crypto transactions.

decrypt.co/309459/sec-rethinks-expanding-exchange-definition-crypto

FUNDRAISING

OTHER HEADLINES

Elon Musk blames X outage on ‘massive cyberattack’ as bitcoin dips to $78K

Hacking group Dark Storm has claimed responsibility for the attack on X. The group has warned it would target countries that support Israel.

protos.com/elon-musk-blames-x-outage-on-massive-cyberattack-as-bitcoin-dips-to-78k

Thailand’s Regulator Recognizes Tether’s USD₮ as an Approved Cryptocurrency in Major Step for Digital Assets - Tether.io

10 March, 2025 – Tether, the largest company in the digital assets industry, has announced that Thailand’s Securities and Exchange Commission has granted acceptance of USD₮ as an approved cryptocurrency. This approval enables USD₮ to be traded within the country, facilitating its listing on regulated exchanges and paving the way for USD₮ to be accepted […]

tether.io/news/thailands-regulator-recognizes-tethers-usdt-as-an-approved-cryptocurrency-in-major-step-for-digital-assets

PayPal and Ripple stablecoins still sub-1% despite ‘stablecoin gold rush’

Despite excellent political and banking conditions for stablecoins, PayPal’s PYUSD and Ripple’s RLUSD are still less than 1% of the market.

protos.com/paypal-and-ripple-stablecoins-still-sub-1-despite-stablecoin-gold-rush

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