Bitcoin Drops To $86,000 Amid Huge Market Crash

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This Week’s Summary

  • The crypto market ends the week at a total market capitalization of $2.84 trillion.
  • Bitcoin dropped to around $86,000 after an 11% drop.
  • Ethereum is down by over 21% to trade at around $2,200.
  • XRP is down by 12%, Solana by 16%, and Dogecoin by 15%.
  • Almost all altcoins are trading in the red, with very few exceptions.
  • The DeFi sector decreased the total value of protocols (TVL) to around $97 billion.


Crypto Trends 24 Feb – 2 Mar 2025: Market Analysis and Performance

The crypto market had one of its worst weeks in recent history. Most cryptocurrencies lost significant value points, with some recording double-digit drops. The deeply uncertain climate of international politics has affected all financial markets, and the crypto market did not make an exception. Meanwhile, the market capitalization decreased by over $310 billion, dropping below the hard-earned $3 trillion threshold.

Bitcoin lost over 11% in value, reaching $86,000. This is one of the most significant drops in BTC’s history, which recorded a staggering 18% decrease at one point last week. We would need to go back 11 years to see a similar drop. The king of cryptocurrencies is struggling to remain above the $80,000 level.

Ethereum is back trading in the red after two positive weeks. The second crypto in command lost its recent gains and much more following a 20% drop. ETH is now close to falling below the $2,000 level despite challenging the $4K level only a month ago.


Altcoins & DeFi

Most altcoins are trading in the red, with almost no exceptions. For example, XRP is down by 12%, taking its value to $2.26. Elsewhere, Cardano is down by 15%, Solana by 16%, BNB by 8%, Chainlink by 17%, Avalanche by 12%, Stellar by 4%, Litecoin by 3%, and Sui by 14%.

The memecoins are not faring better either. For instance, Dogecoin is down by 15%, Shiba Inu by 12%, and Pepecoin by 17%.

The Metaverse sector has also seen notable movements in the past week. For instance, Axie Infinity is down by 12%, Render by 8%, and Stacks by 14%. Moreover, Virtuals decreased by 10%, The Sandbox by 9%, Decentraland by 7%, and Floki by 14%.

The DeFi sector lost over $13 billion from the total value of locked protocols (TVL), which is now $97.22 billion.


Crypto Market Analysis – What’s in the News?

  • US-based Bitcoin ETFs recorded over $3.6B worth of outflows over the last two weeks.
  • The US Securities and Exchange Commission has officially closed its investigation into the Gemini cryptocurrency exchange.


Next Week’s Crypto Market Forecast

The crypto market, like the rest of the financial world, is at a turning point in its history. The sentiment remains overwhelmingly negative across the board. Moreover, the enthusiasm brought by the year’s beginning has washed away. Hopefully, the trend will reverse soon, although major improvements are not anywhere on the horizon.


More By This Author:

Bitcoin STH Average Cost Basis At $90,950 — Why Is It Relevant?
Solana Now Retesting Realized Price: Will Shift To Bear Market Happen?
Bitcoin Weekly Close Key For A Retest Of $93,000 – ‘Weekend Relief’ Coming?

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