Crypto prices today (February 28) continue to face severe heat, as indicated by Bitcoin (BTC) price touching a $78K low in the past 24 hours. Ethereum (ETH) price briefly tanked below the $2,100 level during early Asian hours on Wednesday. Altcoins such as XRP and Solana (SOL) also backtracked nearly 10%. The broader sector continues to face pressure in light of global trade war speculations due to Donald Trump’s new tariffs and investors’ panic selling.
Notably, the crypto market lost nearly 7% in the past 24 hours, as indicated by a shredded market cap of $2.63 trillion. Further, the market volume was down by 2% over the past day, reaching $155.49 billion. This data indicated that market participants continue to exercise caution amid a volatile trend.
Simultaneously, cryptocurrency prices continue dealing with volatility amid over 177K traders liquidated for over $700 million intraday, per Coinglass.
Also, it’s worth keeping in mind that Donald Trump’s new import tariffs on EU, Canada, and Mexico are sparking trade war tensions, impacting global markets.
As of press time, BTC price cracked by nearly 8% in the past 24 hours, exchanging hands at $79,417. However, the flagship coin hit an alarming bottom of $78,984 in the past 24 hours, per CoinMarketCap data. This waning action aligns with an eye-catching $365.91 million worth of liquidations in the Bitcoin market. Nevertheless, the coin’s dominance managed to stay up by 0.07%, signaling altcoins continue to face more pressure.
ETH price tanked over 10% in the past 24 hours, closing in at $2,105. The coin hit an intraday bottom and peak of $2,084.78 and $2,378.09, respectively. Ethereum recorded liquidations worth $166.28 million in the past 24 hours, rationalizing the slumping action.
XRP price traded at $2 at the time of reporting, crashing 10% intraday. Ripple’s native coin hit a low and high of $1.99 and $2.25 over the past day. Liquidations for the same came in at $17.94 million in the past 24 hours. The crypto’s price faces heat in tandem with broader market trends.
SOL price slumped 10% in the past 24 hours, closing in at $127.42. The coin hit a low and peak of $125.74 and $142.18 in the past 24 hours. Solana registered $31.69 million worth of liquidations in the past 24 hours. Nevertheless, market expert Raoul Pal shared a bullish outlook for the cryptocurrency amid market stats hinting at an oversold condition.
Dogecoin (DOGE) price plummeted 8% over the past day, exchanging hands at $0.1885. The meme coin soars despite massive DOGE whale buying, sparking market concerns.
Shiba Inu (SHIB) price fell 8% over the past day, reaching $0.00001332. The token drops despite an uptick in SHIB burn rate, as reported by CoinGape recently.
Pepe Coin (PEPE) and TRUMP coin prices fell 12%-16%, closing in at $0.000007419 and $11.24, respectively. The meme coin sector reflects a bearish trend in sync with broader market developments.
Price: $7.71
24-Hour Gains: +4%
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