• Ether dropped 9%, XRP fell 2%, and Dogecoin lost over 8% in 24 hours
• Investors react to Trump’s comments about a possible recession
• The US stock market lost more than $1.7 trillion in value

Crypto prices have fallen across the board, with Bitcoin dropping below $77,000 as investors continued to react to US President Donald Trump’s tariff policies and the Bitcoin reserve plan.

In the early hours of Tuesday, March 11, Bitcoin fell to $76,000, a figure not seen since last September. In a post on X, crypto trader Ali said:

“If #Bitcoin $BTC holds $80,000, the bull case remains strong. Losing this level, however, could put $69,000 in play as the next key support!”

If #Bitcoin $BTC holds $80,000, the bull case remains strong. Losing this level, however, could put $69,000 in play as the next key support! pic.twitter.com/PuqTrgKF0j

— Ali (@ali_charts) March 11, 2025

Bitcoin has risen slightly and is back up around $81,600 at the time of publishing, according to CoinMarketCap. Ether, on the other hand, was down over 9% in 24 hours to $1,920, XRP had fallen more than 2%, at $2.13, and Dogecoin was down over 8.81% to $0.1607.

The market reacts

News of the continued market sell-off comes as investors react to Trump’s trade tariffs, the announcement of the US Strategic Bitcoin Reserve, and the possibility of a recession.

Following Trump’s remarks, the US stock market lost more than $1.7 trillion in value yesterday. Elon Musk’s Tesla saw its shares drop by at least 15% to $222, losing over half its value from its December peak at $479.86. In a post on X, Musk said: “it will be fine long-term.”

Market conditions haven’t been helped by Trump’s trade tariffs on Canada, China, and Mexico. Last month, it was confirmed that Trump was imposing a 25% trade tariff on Canada and Mexico; however, this has been delayed until April 2. China had a 20% tariff levied against it.

BitMEX co-founder Arthur Hayes took to X to ask people to be “patient.”

“$BTC likely bottoms around $70k. 36% correction from $110k ATH, v normal for a bull market,” adding:

“Traders will try to buy the dip, if you are more risk averse wait for the central banks to ease then deploy more capital. You might not catch the bottom but you also won’t have to mentally suffer through a long period of sideways and potential unrealised losses.”

Crypto analyst Trend Diva has provided an in-depth analysis of the current Ethereum price action. She revealed that ETH is still moving inside an ascending triangle but warned that it could suffer further downside pressure if it fails to stay above a crucial support level. 

Ethereum Price Still Inside An Ascending Triangle Despite Recent Crash

In a TradingView post, Trend Diva revealed that the Ethereum price is moving inside a clear ascending triangle. The upper boundary acts as long-term resistance, and the lower boundary provides dynamic support. This analysis comes amid ETH’s recent decline below $2,000. 

Related Reading

The analyst noted that after a steady climb, the Ethereum price started showing weakness, confirmed by a head and shoulders pattern, which she claimed is a common sign that the trend might reverse. This weakness led to a strong drop for ETH, bringing its price down to the key support zone around $2,000. 

Trend Diva stated that this support area is important for the Ethereum price because it meets with a major trendline, making it a likely spot where buyers could step in. She added that the volume profile also shows a lot of activity in this zone, meaning traders have been interested in these levels before.

 The analyst further remarked that if the Ethereum price holds above this $2,000 support, it could bounce towards the $2,800 level, which represents a previous resistance. However, she revealed that a breakdown below the trendline shifts the bias bearish towards $1,414. 

For now, as long as ETH stays above $2,000, a rebound to $2,800 is still on the horizon. 

It is worth mentioning that the Ethereum price briefly lost the $2,000 support level following a crypto market crash on Sunday. As such, there is also the possibility that it could drop to as low as $1,414 as Trend Diva warned. 

A Drop To As Low As $1,250 Is Also On The Cards

In an X post, crypto analyst Ali Martinez said the Ethereum price seems to be breaking out of a parallel channel. He added that ETH could drop to as low as $1,250 if momentum sustains. ETH whales look to be doing everything possible to defend the $2,000 support zone and prevent Ethereum from dropping to these new lows. 

Related Reading

Martinez revealed that the largest whales on the network have bought 330,000 ETH in the last 48 hours. This massive whale accumulation could help prevent further downside pressure and possibly spark a bullish reversal for the Ethereum price. 

At the time of writing, the Ethereum price is trading at around $2,065, down over 5% in the last 24 hours, according to data from CoinMarketCap.

Featured image from iStock, chart from Tradingview.com

Ethereum has suffered a massive decline, losing over 50% of its value since late December, fueling fear and panic selling across the market. The downturn has led many analysts to question the possibility of an altseason this year, as Ethereum and most altcoins struggle to reclaim key bullish levels. With ETH failing to break above critical resistance zones, investors remain uncertain about its short-term direction, and market sentiment continues to lean bearish.

Despite the pessimism, there are signs of potential recovery. On-chain data from IntoTheBlock shows that $1.8 billion worth of ETH left exchanges last week, marking the largest weekly outflow since December 2022. Large outflows from exchanges typically indicate that investors are moving ETH into private wallets, suggesting long-term accumulation rather than immediate selling. This trend could imply that whales and institutional players are viewing current prices as an opportunity, despite the broader market uncertainty.

If Ethereum can hold key support levels and stabilize, it may be positioned for a strong rebound in the coming weeks. However, for ETH to confirm a true recovery, bulls must reclaim critical resistance zones and sustain buying momentum. Until then, traders remain cautious, watching whether Ethereum will stage a comeback or if further downside is ahead.

The next few weeks will be crucial, as ETH’s ability to hold above key demand zones could determine whether a trend reversal is possible or if continued selling pressure will push prices lower.

Ethereum Bulls Must Hold $2K Support

Ethereum is currently trading above the $2,000 mark, but bulls are finding it difficult to reclaim higher levels amid persistent selling pressure. The market remains in a fragile state, with investors closely watching whether ETH can establish a recovery or continue its downward trajectory.

For a meaningful recovery, ETH must reclaim the $2,350 level, which would set the foundation for a potential rebound. However, the main resistance zone for bulls remains at $2,500—a critical level that has historically acted as a strong barrier. A break and hold above $2,500 would likely spark a recovery rally, shifting momentum back in favor of buyers.

On the flip side, failing to hold $2,000 could extend Ethereum’s downtrend, increasing the likelihood of further declines. Losing this key level would put ETH at risk of testing lower demand zones, potentially leading to more aggressive selling pressure.

Featured image from Dall-E, chart from TradingView