After a week of optimism driven by the White House crypto summit and the anúncio of a strategic Bitcoin reserve in the US, the cryptocurrency market today 10/03/2025 is facing a strong correction. Bitcoin, the main digital asset, has fallen by almost 3% in the last 24 hours, trading above the $82 zone.
In this scenario, two cryptocurrencies are attracting attention for their gains today amid the broader market pullback: Pi Network (PI) and Ethena (ENA), which have risen more than 5% in the last 24 hours. $PI peaked today at $1.46 while ENA surpassed $0.47 on Monday morning.
The negative impact of recent developments in the sector was not limited to Bitcoin alone. Other prominent cryptocurrencies in the market, such as Cardano (ADA), Solana (SOL) and Dogecoin (DOGE), recorded even more significant drops, ranging from 3.9% to 5.3%.
The recent move has generated a significant sell-off in the market. According to data from Coinglass, 24 traders were liquidated in the last 223,975 hours, bringing the total liquidations to $649.47 million. The largest single liquidation order was on the Binance exchange – with the BTCUSDT asset, worth $32.09 million.
Source: Coinglass
The current scenario contrasts with the euphoria of investors and market enthusiasts last week, when major altcoins experienced impressive gains of up to 60% after the US president suggested that tokens such as XRP, SOL and ADA could be included in the US Strategic Crypto Reserve. However, the excitement surrounding altcoins was later dashed when Trump clarified that the US reserve would consist exclusively of seized Bitcoin, relegating the other assets to a “stockpile” of tokens. The lack of mention of altcoins in the strategic reserve triggered a wave of selling, reversing earlier gains.
Following Bitcoin’s current development, major cryptocurrencies are witnessing significant pullbacks in the last 24 hours. Ethereum is trading at $2,129.53 with a 0.8% drop in its price. XRP is trading at $2.21 with a 1.9% drop. Cardano is trading at $0.7552 after recording a 3.2% drop. Solana is down 4.7% and is trading at $129.93. With a 4.1% drop, DOGE is trading at $0.1779.