Cryptocurrency market update (March 4): Bitcoin plunges below $85K as major coins bleed

Bitcoin (BTC) made a strong comeback on Tuesday, recovering from last week's losses to breach the $92,000 mark. The surge came after US President Donald Trump unveiled a Strategic Crypto Reserve, which includes key tokens such as XRP, Solana (SOL), Cardano (ADA), Bitcoin, and Ethereum. The announcement helped boost investor confidence and triggered a market-wide rally.

Major altcoins, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC), saw green across the board. Meanwhile, the overall Market Fear & Greed Index stood at 39 (Fear) out of 100, according to CoinMarketCap data. Notably, Cardano (ADA) emerged as the biggest gainer, skyrocketing nearly 60 percent in 24 hours, whereas Maker (MKR) suffered the most, shedding almost 7 percent in the same period.

At the time of writing, the global crypto market capitalization was recorded at $2.76 trillion, reflecting a 10.54 percent dip over the last 24 hours.

Bitcoin (BTC)
Global Price: $84,148.33 (-9.48% in 24 hours)
Indian Price: Rs 80.95 lakh

Ethereum (ETH)
Global Price: $2,103.06 (-13.91%)
Indian Price: Rs 2.13 lakh

Dogecoin (DOGE)
Global Price: $0.1931 (-15.14%)
Indian Price: Rs 19.87

Litecoin (LTC)
Global Price: $104.80 (-14.51%)
Indian Price: Rs 10,719.37

Ripple (XRP)
Global Price: $2.34 (-16.55%)
Indian Price: Rs 244.28

Solana (SOL)
Global Price: $137.62 (-18.85%)
Indian Price: Rs 14,824.70

Despite the volatility, a few cryptocurrencies managed to post gains in the past 24 hours:

Pi (PI): $1.73 (+1.70%)
Tether Gold (XAUt): $2,885.44 (+1.03%)
PAX Gold (PAXG): $2,888.92 (+0.79%)

Several cryptocurrencies suffered significant losses, with some dipping over 20 percent in value:

Sonic (S): $0.5442 (-24.36%)
Cardano (ADA): $0.8126 (-23.72%)
Official Trump (TRUMP): $12.37 (-22.96%)
Virtuals Protocol (VIRTUAL): $0.8922 (-22.81%)
Lido DAO (LDO): $1.06 (-21.10%)