Bitcoin (BTC) Price Drops to $84K After Sharp Correction

Bitcoin (BTC) has undergone a sharp price correction, tumbling from a peak of nearly $110,000 in late 2024 to approximately $84,000 as of March 18, 2025

Bitcoin (BTC) has experienced a steep price correction, dropping from a peak of nearly $110,000 in late 2024 to approximately $84,000 as of March 18, 2025, according to data from CoinMarketCap.

For more perspective, BTC had actually dropped to around $16,000 in the last cycle after peaking at about $69,000 in the last crypto market bull run of 2021.

This decline coincides with significant outflows from digital assets, as reported by CoinShares. Major crypto funds have seen billions in outflows over recent weeks.

The launch of Bitcoin exchange-traded funds (ETFs) in January 2024 was met with a lot of enthusiasm, but their gains have since evaporated, reflecting broader market unease.

Despite this volatility, key players like Strategy (formerly MicroStrategy), Metaplanet, and El Salvador are persisting in accumulating BTC, while others, like South Korea and Germany, diverge in their approaches, highlighting Bitcoin’s polarizing role in global finance.

Strategy, led by Michael Saylor, recently added $10 million worth of Bitcoin to its treasury, bringing its total to just under 500,000 BTC.

Saylor, a staunch advocate, views Bitcoin as an effective hedge against inflation, famously stating: “There’s a word for people who store value in fiat—we call them poor.”

This aligns with Japan’s Metaplanet, which has mirrored Strategy’s playbook, boosting its BTC holdings to over 1,000 coins in 2024.

El Salvador, under President Nayib Bukele, continues its Bitcoin experiment, acquiring more despite IMF criticism over fiscal risks. Samson Mow, CEO of JAN3, praises this resilience, noting: “Their strategy proves #Bitcoin’s viability as a national asset, defying traditional skepticism.”

In contrast, South Korea's recent rejection of BTC as a reserve asset showcases caution, with officials highlighting its volatility as a liability.

Furthermore, Germany’s 2024 sell-off of its Bitcoin stash, once valued in the billions, now draws regret as prices soared post-sale. Industry veteran Adam Back, Blockstream CEO, criticizes the move, saying: “Germany's timing was abysmal. Selling low and missing a historic rally shows a lack of foresight.”

Meanwhile, BlackRock's deepening focus on Bitcoin ETFs signals institutional acceptance. This is emphasized by Cathie Wood of ARK Invest, who asserts that Bitcoin's integration into portfolios is inevitable, and its volatility is a feature, not a flaw, for long-term growth.

However, Bitcoin's reputation as a risk asset—similar to stocks rather than a safe haven like gold, which recently hit record highs—complicates its narrative. The U.S. stock market's parallel decline suggests macroeconomic pressures, like rising interest rates or geopolitical uncertainty, are also playing a role.

As Dan Held, a crypto educator, points out, Bitcoin's correlation with risk assets isn't surprising; it's still maturing, but its fundamentals remain unmatched.

This is further highlighted by Anthony Pompliano, a digital assets and Fintech investor, who adds that corrections are healthy as they shake out weak hands and let the strong double down—like Strategy and El Salvador.

The divide in perception is evident in CoinShares's report of $6.4 billion in ETF outflows over five weeks, yet BlackRock's iShares Bitcoin Trust (IBIT) still holds significant assets, hinting at persistent institutional interest.

For Saylor, the dip is a buying opportunity and Bitcoin is the apex property of humanity.

But critics question its safe-haven status as gold outshines it during turbulence.