Today, February 22, 2025, the cryptocurrency market witnessed significant declines in the prices of the most prominent currencies. Current data shows a decrease in the value of Bitcoin (BTC) by 2.86%, reaching a price of $96,594. Ethereum (ETH) also decreased by 3.85%, recording $2,726.6.
It is worth noting that Cathie Wood, CEO of ARK Investment Management, indicated that the sideways trading of Bitcoin after it crossed the $100,000 barrier is a healthy and natural development. Wood expects a significant increase in the price of Bitcoin in the future, stressing the importance of understanding this new asset by money managers.
Additionally, Bybit suffered a security breach that resulted in the theft of $1.5 billion worth of Ethereum tokens, making it the largest hack in cryptocurrency history.
As for other cryptocurrencies, Pi Network has seen a 5.99% decline in the past 24 hours, currently trading at $0.7050.
Overall, analysts expect the volatility in the cryptocurrency market to continue, with Bitcoin likely to reach higher price levels in the near future.