Crypto Market Today (March 7): Despite U.S. President Donald Trump's Recent Announcement About a Bitcoin Reserve, BTC Price Backtracked to a $84K Low Intraday.

The global crypto market lost nearly 4% value today as the market cap shrank to $2.88 trillion despite pro-cryptocurrency advancements in the U.S.

The global crypto market today lost nearly 4% value as the market cap shrank to $2.88 trillion despite pro-cryptocurrency advancements in the U.S.

Recently, U.S. President Donald Trump announced the establishment of a Bitcoin (BTC) strategic reserve in the country. Moreover, the administration also focused on creating a ‘Digital Asset Stockpile’ in the U.S. that consists of crypto other than BTC. However, despite these much-awaited pro-crypto developments, prices today encounter considerable volatility.

BTC Price Backtracks to $84K Low

After showcasing a recovery-like trend, BTC price again leaves hope sinking as it fell over 4% to $87,071 at the time of reporting.

CoinMarketCap’s data showed that the coin bottomed at $84,717.68 over the past day. The waning action, however, is contrary to the strategic U.S. reserve announcement that was expected to bolster the price.

BTC price action also comes amid staggering liquidations with over $259.24 million liquidated in the past 24 hours, according to Coinglass data.

BTC futures OI also slipped 4.6% today and closed in at $48.48 billion, signaling declining market interest despite favorable developments.

ETH Price Drops 1-6%

The second-largest coin by market cap, Ether (ETH), price cracked by 6% intraday and exchanged hands at $2,146. The coin bottomed and peaked at $2,103.47 and $2,319.40 in the past 24 hours.

ETH price action is in sync with the broader market trend. The second-largest coin by market cap saw $72.04 million in liquidations recorded over the past day.

Furthermore, Ethereum’s futures OI declined by 4.24% to $19.24 billion, rationalizing a downtrend. The coin’s market dominance rested at 9.1% today.

Other Relevant Crypto Prices Today

Solana (SOL) price witnessed a 5% downfall in the past 24 hours and closed in at $141. The coin swooped to a $135.72 low and a high of $152.78 intraday. Even Solana registered $21.67 million worth of liquidations, aligning with the tumbling action.

Simultaneously, Dogecoin (DOGE) price pulled back nearly 5% and exchanged hands at $0.1967. Shiba Inu (SHIB) price lost over 2% and stood at $0.00001318. Even Pepe Coin (PEPE) price lost 6% and exchanged hands at $0.000006717. Altogether, the meme coin market mirrors broader trends.

Crypto Prices Today

BTC Statistics:

BTC price today dropped over 4% and trades at $87,071 at the time of writing.

BTC price bottomed at $84,717.68 and peaked at $88,110 in the past 24 hours.

BTC price volatility, according to Bollinger Bands, is relatively high.

The Relative Strength Index (RSI) on the 14-day period stands at 44.28, indicating that BTC is approaching oversold territory.

BTC price action comes amid staggering liquidations with over $259.24 million liquidated in the past 24 hours, according to Coinglass data. BTC futures OI also slipped 4.6% today and closed in at $48.48 billion, signaling declining market interest.

BTC price is down 4.4% in the past seven days.

ETH Statistics:

ETH price cracked by 6% in the past 24 hours and trades at $2,146 at the time of writing.

The second-largest coin by market cap bottomed and peaked at $2,103.47 and $2,319.40 in the past 24 hours.

ETH price action is in sync with the broader market trend as the crypto market lost nearly 4% value today.

The second-largest coin by market cap saw $72.04 million in liquidations recorded over the past day.

Furthermore, Ethereum’s futures OI declined by 4.24% to $19.24 billion, rationalizing a downtrend.

The coin’s market dominance rested at 9.1% today.

Top Gainers In The Crypto Market Today

Some tokens appear to have defied the fading market trend today, entering the green zone.

Movement (MOVE)

Price: $0.494