So, here we are on March 11, 2025, and guess what? The cryptocurrency market decided to take a nosedive, with Bitcoin plummeting to a staggering $76,000. I mean, who needs a rollercoaster when you have crypto, right? 🎢 The S&P 500 also joined the party, erasing a whopping $1.4 trillion in market cap—its worst day since 2022. Talk about a dramatic exit! 💔
Cryptocurrencies Price Prediction as US Recession Fears Spark Market Crash
Investors are suddenly playing it safe, turning their backs on risk assets like cryptocurrencies and stocks. Yesterday, the S&P 500 market cap took a $1.4 trillion hit—yep, that’s a lot of zeros—marking its worst trading day in two years. This index is now flirting with a six-month low. How romantic! 💔
And it gets better! Cryptocurrencies also decided to join the pity party, with a total of $954 million in liquidations after Bitcoin fell to $76,000 and Ethereum dipped to $1,800 for the first time since November 2023. Most top altcoins are now trading at multi-month lows. It’s like a sad reunion of all the coins! 😢
This delightful downtrend was sparked by fears of a looming recession, with predictions from Kalshi showing a 40% chance of the US economy going belly up this year. Because of this, traders are ditching risk assets like crypto and stocks, opting for the shiny allure of gold, which just hit an all-time high. Gold: 1, Crypto: 0. 🥇
Trump Fuels US Recession Rumors
The markets are also sweating bullets after President Donald Trump didn’t exactly reassure us that the US economy won’t crash in 2025. In a riveting interview with Fox Business, he admitted that his economic policies, like tariffs, might cause a bit of turbulence. He said,
“There is a period of transition because what we’re doing is very big… We’re going to have a disruption, but we’re okay with that.”
Last week, Federal Reserve Chair Jerome Powell chimed in, saying that despite the economic uncertainty, the US economy is still in a decent spot. So, no rush to trim interest rates just yet. Because who doesn’t love a good game of economic chicken? 🚗💨
“If the economy remains strong but inflation does not continue to move sustainably toward 2 percent, we can maintain policy restraint for longer,” Powell said.
What’s Next For Cryptocurrencies?
Now, the million-dollar question: will cryptocurrencies bounce back after this crash? Analyst Ali Charts suggests that after Bitcoin dipped below its 200-day moving average, the next key support level is at $66,000. Without a miracle, and with recession fears still looming, BTC might just keep sliding down that slippery slope. 🛷
As Bitcoin takes a tumble, other cryptocurrencies are likely to follow suit. But wait! ARK Invest CEO Cathie Wood believes this downtrend is just the crypto market preparing for the final act of a rolling recession. After that, we might see a deflationary boom in the second half of 2025. Fingers crossed! 🤞
As the market sentiment remains as uncertain as my love life, Bitcoin might struggle to hold onto the $80K support level. Ethereum could also speed up its decline after hitting 2023 lows. So, brace yourselves for a bearish price prediction for most cryptocurrencies. It’s going to be a bumpy ride! 🎢
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2025-03-11 10:50