Bitcoin surges to $98,000, Solana and Ethereum rise while XRP slides
The cryptocurrency market saw mixed movements on February 21, with Bitcoin (BTC) crossing the $98,000 mark, while Ethereum (ETH) and Solana (SOL) posted modest gains.
The total global crypto market capitalization stood at $3.23 trillion, rising nearly 1% from the previous day.
Meanwhile, total market volume surged by 8% to $90.13 billion, highlighting heightened trading activity across digital assets.
Despite the broader uptrend, XRP faced downward pressure, losing nearly 2% in the past 24 hours.
The latest data indicates increased volatility in altcoins, as Bitcoin’s dominance climbed to 60.31%, reflecting investor preference for the leading cryptocurrency amid fluctuating market sentiment.
Bitcoin inches closer to $100K
Bitcoin price climbed over 1% in the last 24 hours, trading at $98,388. The flagship cryptocurrency recorded an intraday low of $96,805.78 and a high of $98,767.19.
Source: CoinMarketCap
The steady uptrend continues to fuel speculation about Bitcoin’s ability to breach the psychologically significant $100,000 mark.
The latest data shows that Bitcoin’s dominance in the crypto market increased by 0.23%, reaching 60.31%. This shift suggests that investors are seeking refuge in Bitcoin amid the growing uncertainty in the altcoin sector.
If the momentum persists, BTC could soon test new highs, drawing further institutional interest.
Ethereum and Solana gain
Ethereum price saw a marginal rise of 0.2%, settling at $2,748. The coin’s 24-hour range fluctuated between $2,708.22 and $2,770.03.
Ethereum’s dominance slipped to 10.25%, indicating weaker investor enthusiasm compared to Bitcoin. Key resistance remains at $2,800, and a breakout above this level could drive further upward movement.
Source: CoinMarketCap
Solana (SOL) experienced a modest 0.5% increase, currently trading at $174.55. The coin’s intraday low stood at $170.99, while its high reached $176.59.
The broader market sentiment continues to influence SOL’s price action, with traders closely watching for signs of a breakout or consolidation.
Source: CoinMarketCap
XRP drops as Grayscale ETF filing enters review
XRP price fell by over 2% in the past 24 hours, slipping to $2.65. The token reached an intraday low of $2.64 and a high of $2.74.
Despite the decline, expectations for an XRP exchange-traded fund (ETF) gained traction as Grayscale’s application entered the US Securities and Exchange Commission’s (SEC) review process.
The possibility of an XRP ETF approval could significantly impact the token’s price trajectory, potentially reversing its recent losses. However, with regulatory uncertainty still looming, XRP remains susceptible to market fluctuations.
Meme coins see mixed performance
Among meme cryptocurrencies, Dogecoin (DOGE) declined by 1.5% to $0.253, while Shiba Inu (SHIB) fell by 0.5% to $0.00001552.
Meanwhile, Pepe Coin (PEPE) gained over 1% to $0.000009722, and FLOKI recorded a 3% increase, trading at $0.00009888.
With volatility persisting across the broader crypto market, investors are closely monitoring price movements and regulatory developments that could shape future trends.
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