Bitcoin saw a rollercoaster weekend, briefly touching $99,500 before slipping below $95,000 following a massive $1.4 billion crypto hack. The incident triggered widespread investor withdrawals, impacting major altcoins like Ethereum, XRP, and Solana. Despite the setback, Ethereum rebounded to $2,800, signalling strength. As Bitcoin hovers near the critical $94,000 support level, market watchers anticipate volatility in the coming days. With the highly anticipated halving event approaching, optimism remains high, and traders are eyeing potential new all-time highs. As the market steadies, crypto enthusiasts remain eager for the next big move.
Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future.
This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their research before taking any calls.
Crypto Prices Over The Past Week
Last Monday (February 17), the overall crypto market cap stood at $3.2 trillion. BTC price stood at around $95,400. ETH price stood at around $2,600.
A week later, the overall market cap dipped to $3.13 trillion.
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DeFi’s total volume stands at $6.61 billion, at 8.17 percent of the total market 24-hour volume. In the case of stablecoins, the overall volume stands at $75.56 billion, at 93.45 percent of the total 24-hour market volume. As per CoinMarketCap, the overall market fear and greed index stood at ‘Neutral’ with 40 points (out of 100).
BTC dominance, at the time of writing, stood at 60.43 percent.
Over the past seven days, Bitcoin achieved a high of $99,454.73 (on February 21) and a low of $93,487.55 (February 19).
Ethereum, on the other hand, saw a high of $2,838.59 (February 21) and a low of $2,617.13 (February 18).
Crypto Events To Note
Bitcoin briefly surged to $99,500 over the weekend before dropping below $95,000 following a massive $1.4 billion crypto hack. The breach led to investor withdrawals, impacting Ethereum, XRP, and Solana.
While Bitcoin struggles below $96,200, altcoins show mixed signals, with some displaying bullish patterns. Ethereum remains above $2,700, signaling strength. Technical analysis suggests Bitcoin’s breakout above $97,000 could push it toward $100,000, with long-term targets near $130,000.
Meanwhile, speculation around the SEC’s appeal against Ripple’s XRP adds uncertainty. Despite market turbulence, growing altcoin dominance and increased BTC wallet creation hint at renewed investor interest and potential recovery.
What Crypto Traders Are Saying About Current Market Scenario
Alankar Saxena, co-founder and CTO, Mudrex told ABP Live, “Over the weekend, Bitcoin reached $99,500, nearly reclaiming the $100K mark, before correcting below $95,000 following the $1.4 billion crypto hack on Friday. This incident triggered mass withdrawals from investors, affecting altcoins such as Ethereum, XRP, and Solana. Despite the setback, Ethereum quickly bounced back to $2,800, showing strong resilience. However, investors must remain cautious as the market digests the impact of the hack. In the next few days, BTC may experience slight volatility if it falls below the critical $94,000 support level.”
Thangapandi Durai, CEO and Founder, Koinpark, said, “Bitcoin keeps proving why it’s the king of crypto. It nearly hit $100K last week before dropping to $95K after the Bybit hack rattled the market. But if history has taught us anything, it’s that Bitcoin doesn’t stay down for long. The market is steady, big players are loading up, and the halving is getting closer. People are buzzing about new all-time highs, and the energy is contagious. Whether you’re stacking, trading, or just watching, this is the kind of moment that makes crypto exciting. One thing is certain. Bitcoin isn’t fading away. It is just getting started.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
