Crypto Market Today (Feb 20): BTC Reclaims $97K, Altcoins Jump In Sync

Crypto market today (February 20) has shown signs of a potential recovery trend brewing after a massive bloodbath witnessed recently. Bitcoin (BTC) price regained a break above $97K, whereas leading altcoins traded in the green zone despite nearly $300 million liquidated across the sector yesterday. As an upshot, market watchers remain highly optimistic about a price recovery and the continuation of this bull cycle moving ahead.

Crypto Market Today Reflects Optimism As BTC, ETH, XRP Soar

Notably, BTC, ETH, XRP, and SOL witnessed an uptick of 1%-6% on Thursday early Asian hours. Also, the global crypto market cap saw a 1.71% upswing to $3.2 trillion, indicating rising asset prices.

However, the total market volume was down by 24.43% to $82.89 billion on Thursday. Let’s dig deeper into some of the buzzworthy coins and the latest updates for today:

BTC Price Regains Hold Above $97K

At the time of reporting, BTC price chart indicated a 1.5% pump in value, reaching $97,090. The flagship crypto hit a low and high of $95,019.07 and $97,364.05 intraday. Notably, the coin soars alongside a new Bitcoin reserve bill unveiled by Montana’s House Business and Labor Committee. However, BTC’s dominance declined by 0.17% to 60.12%, signaling that altcoins gained harder on Thursday.

ETH Price Gains 2% Mirroring Crypto Market Trend

ETH price gained by slightly over 2% today, reaching $2,742. The coin’s intraday bottom and peak were $2,666.39 and $2,750.38, respectively. Ethereum rises against the backdrop of bullish market support, CoinGape recently reported. Notably, exchange-held ETH hit a record low at 6.38%, whilst whales bagged a massive $2.5 billion worth of tokens amid the recent market dip, indicating a rally lies ahead.

XRP Price Surges 6%

XRP price pumped by over 6% today and exchanged hands at $2.70. The coin’s 24-hour low and high were $2.52 and $2.74, respectively. Notably, the Ripple-backed asset soars amid rising speculations of a halt in the XRP lawsuit against the U.S. SEC. Further, it’s also worth mentioning that the U.S. SEC acknowledged WisdomTree’s Spot XRP ETF filing recently, adding to optimism over price. XRP futures OI was up by nearly 7% today to $4.09 billion amid the optimistic developments.

SOL Price Up 4%

SOL price today witnessed gains worth 4% intraday and closed in at $174. The coin hit a bottom and peak of $163.96 and $174.12 in the past 24 hours. Solana price rises despite the ongoing meme coin panic on the network, sparking market speculations amid rising SOL staking activity.

Meme Crypto Market Gains Parallelly

Simultaneously, DOGE price witnessed a nearly 2% increase today, reaching $0.2567. Also, SHIB price has gained nearly 3% over the past day, reaching $0.00001559. PEPE & TRUMP prices also surged 3-5%, closing in at $0.000009595 and $17.10, respectively. Overall, the meme coin market shows strength in tandem with today’s broader crypto market trend.

Crypto Market Gainers Today

Story (IP)

Price: $2.89
24-Hour Gains: +35%

Aptos (APT)

Price: $6.95
24-Hour Gains: +20%

Bittensor (TAO)

Price: $445.86
24-Hour Gains: +20%

Crypto Market Losers Today

Movement (MOVE)

Price: $0.4844
24-Hour Loss: -5%

Toncoin (TON)

Price: $3.58
24-Hour Loss: -2%

Bitget Token (BGB)

Price: $4.80
24-Hour Loss: -2%

Altogether, traders and investors remain optimistic about the market’s future despite macro heat, primarily attributed to bullish stats and events unfolding across the broader sector. BTC, ETH, SOL, and XRP continued trading in the green zone, per the hourly time frame chart, signaling the potential for further gains ahead.

Meanwhile, the market is currently abuzz with rumors of Donald Trump looking to abolish capital gains tax on BTC on crypto, as revealed by renowned expert “Ash Crypto” on X. Market watchers continue to await further details and an official confirmation on the matter, given it could substantially aid the current market state.