Bitcoin market updates: Bitcoin price fell as low as $78,335 on Friday, its lowest in four months dating back to last November.
Bitcoin ETFs saw another $275 million in withdrawals, making it eight consecutive days of outflows.
Crypto Market Liquidations | Source: Coinglass
Altcoin market update:Compared to BTC, altcoins suffered steeper losses with the majority of the top 50 ranked assets posting losses exceeding of 5%.
Altcoin Market Performance, Feb 28 | Source: TradingView
As seen above the global altcoin market excluding BTC and ETH saw declines by up to 7% on Friday, exceeding Bitcoin’s 4% plunge.
This suggests disinterest in BTC and ETH now triggers higher outflows from altcoins, aligning with the Crypto Fear and Greed Index, which plunged to record lows this week.
Ripple (XRP) price declined 3% on Friday, but bulls made frantic efforts to defend the $2.00 support.Ethereum (ETH) price also dropped by another 5% on Friday, plunging below the $2,200 mark for the first time in 2025.On a rare positive note, Mantra (OM) recorded 2% gains.
Mantra (OM) Price Performance | Coinmarketcap
Mantra is a real-world asset tokenization protocol. The OM price rally aligns with the narrative that some strategic investors are opting to shift capital into Real Word Assets and tokenized fixed-income instruments amid the market crash.
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New day, new trade, new profit! FxSpire EA ensures steady gains on Forex.Chart of the day: Bitcoin ETF enters eight-day losing streak as bearish momentum intensifies
Bitcoin has faced significant downward pressure this week, with the market reacting negatively to the expectation of inflation driven by United States (US) tariffs under Donald Trump's administration.
This bearish sentiment has accelerated Bitcoin's decline, pushing BTC below $80,000 on Friday for the first time since Trump's re-election.
One of the key factors weighing Bitcoin's price action has been the persistent outflows from Bitcoin spot ETFs, as illustrated by the latest data #Binance