Bitcoin slides below $82,000 as crypto market faces broad sell-off

Global cryptocurrency markets saw a notable pullback on March 21, 2025, as Bitcoin slipped below the key $82,000 level, triggering fresh attention from traders and analysts.

Real-time data from Bitcoin World market monitoring showed the world’s largest digital asset trading at $81,926.19 on the Binance USDT perpetual futures market, according to foreign media.

The decline marked a retreat from recent highs and reflected broader shifts across the crypto market.

The move below $82,000 is being closely watched, as this level had previously served as both support and resistance during the first quarter of 2025. The drop followed a period of consolidation after Bitcoin surged to a new all-time high above $85,000 earlier in the month.

Analysts point to several factors that likely contributed to the downturn, including a rise in Bitcoin transfers to centralised exchanges, which often signals increased selling activity. At the same time, derivatives markets recorded a wave of liquidations as highly leveraged long positions were forced to close when prices dipped. The correction also coincided with a strengthening US dollar, which typically puts pressure on riskier assets such as cryptocurrencies.

Along with Bitcoin, the entire cryptocurrency market declined. Ethereum fell by more than 7 per cent to $2,750. Amid the sharp price movements, crypto exchanges liquidated the positions of more than 267,000 traders over the past 24 hours, totalling over $1.68 billion. The biggest impact was on Bitcoin, which accounted for about $780 million in liquidations, with most of them affecting long positions.

According to CoinMarketCap, the total capitalisation of the cryptocurrency market dropped to $2.82 trillion. Bitcoin makes up around 58.7 per cent of this amount, while Ethereum accounts for nearly 11.8 per cent.

The largest single liquidation over the past day was recorded on the HTX exchange in the BTC-USDT pair, amounting to $80.57 million.

Bitcoin’s peak price reached $126,000 per coin.

Despite the recent volatility, many market observers note that such pullbacks are common during strong upward cycles. In previous bull markets, including in 2021, Bitcoin experienced multiple declines of more than 20 per cent before reaching new highs. Against that backdrop, the current drop of around 3 to 5 per cent from recent peaks remains within historical norms.

Experienced traders often view these corrections as a natural part of market growth, helping to clear excessive speculation and potentially set the stage for future gains.

By Tamilla Hasanova