Crypto Price Today (07th March, 2025): Bitcoin Price Drops to $89k Ahead of Crypto Summit?

The crypto market has bogged down after a bullish move just yesterday. As a result, the market capitalisation of the business now stands at $2.89 trillion. However, seasoned traders seized the opportunity, which led to the intraday trading volume surging by 10.07% to $129.65 billion. The drop coming ahead of pivotal events like Trump signing the executive order, Powell’s speech, U.S. jobs report, and Federal Reserve’s Monetary Policy Report has been a bummer for the industry. This has influenced the Fear & Greed Index to remain under the fear territory and a score of 30.

Bitcoin Price Recorrects to $88k

Bitcoin price has dropped by 4.42% in the past 24 hours to trade at $88,331.21. The $58.51 billion worth of trade volumes did little to push the flagship cryptocurrency’s price on the daily chart. BTC price did not react to Donald Trump signing an executive order to establish a Bitcoin reserve, which intends to position Bitcoin in line with traditional gold reserves.

Explore our in-depth Bitcoin Price Prediction 2025, 2026-2030 for insights on BTC’s next big move!

Altcoin Season Far from Reality?

As per Coin Market Cap’s “Altcoin Season Index”, the current score stands at 14 out of 100, indicating that the market remains in Bitcoin season. Leading altcoins experienced a broad decline, with Ethereum down 6.26% to $2170.17, XRP dropping 1.54% to $2.50, and Solana sliding 5% to $142.48.

Check out our XRP Price Prediction 2025, 2026-2030 to understand XRP’s price trajectory.

Top Gainers & Losers

While the majority of cryptocurrencies traded in the red, a few outliers posted gains: 

Top Gainers:

• SUI: $2.76 (+3.08%)
• CRO: $0.08641 (+2.01%)
• LEO: $9.92 (+0.03%)

Top Losers:

• Sonic: $0.5264 (-14.31%)
• AAVE: $208.43 (-12.37%)
• ONDO: $1.04 (-12.29%)

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