Why is the crypto market down today?

">">The cryptocurrency market erased all gains from President Trump’s US Crypto Strategic Reserve announcement, plunging by over 14.7% in seven days to reach $2.7 trillion on March 10.Top cryptocurrencies and their 24-hour performances. Source: Coin360Several factors have contributed to the latest drop in crypto prices, including:Trump’s acknowledgement that his policies will cause short-term pain to the economy.Investors are risk-off amid the continued outflows from crypto investment products.TOTAL drops toward the technical target of a descending triangle.Trump acknowledges short-term pain for economyPresident Trump’s recent statements have cast a shadow over the crypto market, tempering the enthusiasm that followed his pro-crypto rhetoric earlier in 2025. Key points:Bitcoin  (https://cointelegraph.com/bitcoin-price

If selling pressure persists, the 100–week SMA at $2 trillion could become the next downside target.Holding the 50-week SMA as support may strengthen the ongoing rebound toward the pattern’s lower trendline, aligning with the $3.1 trillion level.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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