Bitcoin (BTC) extended its decline on March 9, briefly touching an intraday low of $82,201 per coin, down 4.4% against the U.S. dollar in 24 hours. The selloff cascaded across the altcoin market, with Dogecoin (DOGE) leading the top-10 losers with a 12.8% drop, while XRP fell 7.9%. The hardest hit was Pi Network (PI), which plunged 21.66%, recording the most severe loss of the day.
Bitcoin’s Downward Momentum Intensifies
As of 3:30 p.m. ET on Sunday, BTC was oscillating around $82,803, reflecting a 4.4% daily decline and an 11.2% weekly contraction. Two major headwinds weigh on the asset: potential trade tariffs from former President Donald Trump and global inflation fears. These macroeconomic uncertainties inject fresh volatility into the digital asset sector. Bitcoin, often seen as a bellwether for stock market performance the following Monday, delivered a gloomy signal on March 9. Trading volume rose to $25.06 billion in the morning, but the increase remained a sign of sustained selling pressure rather than renewed buying interest.
Liquidation Data Show Widespread Pain
The cryptocurrency derivatives market saw $487.2 million in liquidations over 24 hours, affecting 199,301 traders. Of that, Bitcoin long positions accounted for $134 million, while Ethereum longs lost $88.13 million. Binance, OKX, and Crypto.com dominated BTC trading volume during the session.
Altcoins Bleed Heavily
Beyond DOGE and XRP, other altcoins suffered deep cuts. SPX6900 (SPX) dropped 19.50%, and Jasmy (JASMY) fell 17.68%. PI Network’s 21.66% crash was the most dramatic, further eroding confidence in a token already known for high volatility. Market sentiment turned extremely bearish, with traders wary of any near-term recovery.