Today's cryptocurrency prices show signs of potential recovery, as BTC rose by 8%, and ETH, XRP, and SOL also saw price increases.
Today (March 1), the cryptocurrency market performed strongly, reigniting bullish sentiment among global traders and investors, showing clear signs of recovery. The price of Bitcoin (BTC) rose nearly 8% in the past 24 hours, while the prices of Ethereum (ETH), XRP, and Solana (SOL) also increased by 5% to 16%, marking a significant rebound from previous lows. Additionally, meme coins also performed well, with trading prices generally in an upward range, particularly the Trump-related coins leading a broader market rally.
The following is a brief report on some of the most popular currencies and their price trends on that day.
Today's cryptocurrency prices: BTC and altcoins show signs of recovery
In the past 24 hours, the cryptocurrency market overall rose nearly 5%, closing the week with a market capitalization of $2.82 trillion. Market activity also significantly increased, with total trading volume surging by 12% to $158.76 billion.
This week, the price of Bitcoin (BTC) has remained around $85,000 after experiencing market fluctuations, bringing a glimmer of hope to investors. Meanwhile, Ethereum (ETH) has also shown strong recovery momentum, successfully breaking the $2,200 mark, providing a boost to the market.
BTC price rebounded to $85,000
As of the time of writing, the price of Bitcoin (BTC) has risen nearly 8% in intraday trading, reaching $85,682. In the past 24 hours, this leading cryptocurrency experienced fluctuations, dipping to a low of $78,248.92 before climbing to a high of $85,608.40. Notably, despite an increase in the PCE price index in January, the BTC price has maintained an upward trend, a phenomenon mentioned in CoinGape's latest report. Additionally, according to Coinglass data, the open interest (OI) for BTC futures increased by 2% in the past 24 hours, reaching $51.13 billion. As the week comes to a close, Bitcoin seems to be back in the spotlight, rekindling investor interest.
ETH price rose by 6%
The price of Ethereum (ETH) has risen over 6% in the past 24 hours, closing at $2,252. During this period, the price of ETH fluctuated between a low of $2,076.17 and a high of $2,273.02. Meanwhile, the open interest (OI) for Ethereum futures also grew by 4%, reaching $19.9 billion, indicating increased market participation. In the latest developments in the cryptocurrency space, the U.S. Securities and Exchange Commission (SEC) announced a delay in its decision regarding Fidelity's proposed spot Ethereum ETF, a news that may further impact market sentiment.
Overall, the recent recovery trend in the cryptocurrency market has significantly improved trader and investor sentiment, with a generally optimistic attitude and expectations for further increases in the future.