Bitcoin Plunges Below $80,000 Amid Market Outflows and Economic Concerns

Bitcoin's price crashed below $80,000 on Monday, driven by significant market outflows and growing economic concerns. According to CoinShares' report on March 7, 2025, digital asset investment products experienced their fourth consecutive week of outflows, totaling $876 million. This downturn brought the monthly outflow to $4.75 billion, reducing year-to-date inflows to $2.6 billion. Total assets under management fell to $142 billion, the lowest since mid-November 2024. The U.S. led the outflows with $922 million withdrawn, despite President Trump's Bitcoin reserve announcement. Bitcoin itself saw $756 million in outflows, while Ethereum experienced $89 million in outflows. The broader crypto market sell-off coincided with a decline in equity markets, with the Nasdaq tumbling over 3% and the S&P 500 falling 2%. Concerns over inflation and a potential U.S. recession, fueled by Trump's recent comments, further contributed to the market's bearish sentiment.