The cryptocurrency market has experienced a significant downturn, erasing previous gains from President Trump's US Crypto Strategic Reserve announcement. As of March 10, the total market capitalization plummeted by over 14.7% in just seven days to around $2.7 trillion. Several key factors have contributed to this decline, including Trump's acknowledgment that his policies may induce short-term economic pain, heightened risk aversion among investors, and extensive liquidations in the derivatives market, totaling $650.80 million in the past 24 hours. Notably, Bitcoin fell by 4% and Ether by 3.2%. Additionally, there has been continued negative sentiment regarding digital asset investment products with outflows totaling $876 million for the fourth consecutive week, leading to a total of $4.75 billion withdrawn over that time. The broader market correction correlates with a descending triangle pattern, with technical targets revealing potential further declines if selling pressure continues.

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