The cryptocurrency market experienced mixed movements on February 21, with Bitcoin (BTC) crossing the $98,000 threshold while Ethereum (ETH) and Solana (SOL) posted modest gains.
The total global crypto market capitalization stood at $3.23 trillion, marking a nearly 1% rise from the previous day.
Meanwhile, total market volume surged by 8% to $90.13 billion, indicating heightened trading activity across digital assets.
Despite the overall uptrend, XRP faced downward pressure, losing nearly 2% in the past 24 hours. The latest data highlights increased volatility in altcoins as Bitcoin’s dominance climbed to 60.31%, reflecting investor preference for the leading cryptocurrency amid fluctuating market sentiment.
Bitcoin’s 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. The steady uptrend continues to fuel speculation about Bitcoin’s potential to breach the psychologically significant $100,000 mark.
Bitcoin dominance
Data shows that Bitcoin’s dominance in the crypto market increased by 0.23%, reaching 60.31%, suggesting that investors are seeking refuge in Bitcoin amid growing uncertainty in the altcoin sector. If the momentum persists, BTC could soon test new highs, attracting further institutional interest.
- Ethereum’s price saw a marginal rise of 0.2%, settling at $2,748, with a 24-hour range fluctuating 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.
- 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.
Broader market sentiment continues to influence SOL’s price action, with traders closely watching for signs of a breakout or consolidation.
Credit: Nairametrics
