The current date is February 20, and as of today, the prices of cryptocurrency are highlighted as follows: Bitcoin (BTC) and other leading altcoins have recently increased in price after a notable downturn that captured the interest of investors.
After BTC prices dipped to an intraday low of $93K, the traded price reached $95K. Ethereum (ETH) and Solana (SOL) also experienced price increases of close to 2% in the same time frame. Contrarily, XRP experienced a dull sideways trading session in the past 24 hours.
Crypto Market Once Again Looking For A Recovery With Extreme Volatility
The former president of the U.S, Donald Trump is proposing new imposition tariffs that has currently captured global attention while creating uncertainty towards international capital markets.
This is according to a report by CoinGape that makes sure to report the ongoing trade tension wars that have the potential to shift the flows of global currencies. These advancements have necessitated greater caution with respect to risky assets, such as cryptocurrencies.
Moreover, the unpreceded hawkish strategy of the Federal Reserve which carved out the possibility of dipping the rates in the foreseeable future has made the situation even more dire.
The current market consensus reveals the hope of a single cut in rates this year, which seem to be so pessimistic that they are putting pressure on the price of cryptos. The last 24 hours have witnessed $348.88 million dollars worth of ordered liquidations across the crypto market according to Coinglass data.
Bitcoin Remains Nearly Unchanged At 95K Without A Clear Move Direction
Other than the increasing and decreasing in the value of Bitcoin during market fluctuations, it has managed to sustain itself as a reserve currency. Currently trading at 95,659 USD, bitcoin has increased 1 percent since yesterday. The price bottomed to 93 but managed to bounce back to 95.656.
Most interestingly, in the past 24 hours there have been over 100 million imported liquidations to bitcoin and while the capital dominance increased by 0.47 percent to reach 60.3% which is a clear indicator that alternative coins are facing difficulties.
Ethereum Grows 1.5%
Other currencies coins have also been displaying the same behavior. Ethereum is currently trading above 2,700. With these fluctuations, it was able to gain 1.5%, bringing the price to 2,721.74. Throughout this time interval, the spin coin varied from $2,606.90 to $2,730.28.
The Ethereum (ETH) market experienced liquidations of $50.84 million over the last day, while ETH’s market share remained unchanged at 10.3%.
XRP Facing A Dip Even With ETF Hopes
XRP’s price dipped by 0.4%, trading at $2.56 with the daily low \& high at $2.47 and $2.66 respectively. XRP liquidations reached $11.51 million. Even with the dip in price, investor sentiment surrounding XRP remains bullish due to the U.S. SEC’s recent acknowledgement of Bitwise’s XRP ETF application which brings in the hopes of positive news in the future.
Solana Blocks At 2% Growth
Solana has increased 2% with the current price being $170. It had a price range of $161.31 – $177.94 in the past 24 hours. Additionally, Solana liquidations were at an impressive $36.77 million.
Meme Coins Barely Move The Needle
Meme cryptocurrencies were swayed by the general market trends. Dogecoin prices surged by over 1% to $0.2536 with $9.08 million in liquidations and Shiba Inu increased 1% to trade at $0.00001540. Other meme tokens like PEPE and TRUMP recorded the same trend with price increases ranging from 1% to 4% and closing at $0.000009438 and $17.218 respectively.
All in all, the cryptocurrencies are standing tall but remaining extremely volatile awaiting new macroeconomics, regulatory updates, or fresh changes in the economy.
Crypto’s Biggest Gainers Today: February 19
Any low to midcap cryptocurrency or altcoin saw large movement and recovery.
Maker (MKR)
- Price: $1,186.27
- 24-Hour Gain: +12%
- MKR prices skyrocketed due to investor sentiment and interest, causing a $93.07 million increase in futures open interest (OI) with a staggering 33.72% increase. MKR defied the bearish uncertainty seen with the rest of the market.
Berachain (BERA)
- Price: $6.44
- 24-Hour Gain: +8%
- Currently, BERA is trading at $6.44 and is also enjoying an increase in volume. Overall risk appetite might be low, but the futures OI at $146.53 million is a solid 2% increase within the past week.
Litecoin (LTC)
- Price: $133.09
- 24-Hour Gain: +7%
- BERI And MKR weren’t the only coins with increased futures OI. LTC was also, with a $851.41 million increase of 13%. Speculation of a Litecoin ETF launch has been rumored so this increased volume doesn’t come as a shock.
