Crypto Bloodbath: Bitcoin Drops 10% to $83K, Altcoins Suffer Substantial Losses

Crypto markets experienced a significant downturn on March 4, with Bitcoin (BTC) retracing to the $83,000 level and several altcoins suffering substantial losses. The overall crypto market cap dipped to $2.76 trillion, indicating a decline of nearly 10% in value.

Bitcoin, the leading cryptocurrency, fell by approximately 10% to $83,738, reaching an intraday low of $82,467.24 and a high of $93,664.05. This decline was accompanied by $396.16 million worth of liquidations in the past 24 hours. Despite the setback, Bitcoin's market dominance rose by 0.68% to 60.40%, suggesting that altcoins bore the brunt of the broader market trends.

Ethereum (ETH), the second-largest cryptocurrency by market cap, witnessed a 15% drop in price, closing at $2,076. The coin's intraday bottom and peak were $2,004.21 and $2,453.65, respectively. Ethereum's dominance slipped to 9.1% amid broader sector volatility, with $209.58 million liquidated in the past 24 hours.

XRP, the native token of the Ripple network, plunged by 18% to $2.29. The coin hit a bottom and peak of $2.23 and $2.82 over the past day, aligning with $62.88 million liquidated in the past 24 hours.

Solana (SOL) price crashed even harder, losing 20% value and trading at $136. Its intraday bottom and peak levels were $134 and $170, respectively. Solana recorded liquidations worth $70.55 million, aligning with the volatile intraday action.

Meme cryptocurrencies also mirrored the downtrend, with Dogecoin (DOGE) cracking over 15% to $0.1917, Shiba Inu (SHIB) plummeting 13% to $0.00001260, and Pepe