Emma Nelson 
Crypto Market Today (February 24): A wave of caution swept over traders and investors as the week began, largely driven by Bitcoin’s price falling back to the $95K level. Ethereum (ETH), Solana (SOL), and XRP also saw declines ranging from 1% to 5%, closely following Bitcoin’s downward trend. Even the meme coin market wasn’t spared, with prices dipping into the red on Monday.
Below is a detailed look at the latest price reports and market updates for some of the top cryptocurrencies.
Crypto Market
Overall Market Sentiment: BTC & Altcoins in a Volatile Dance
According to CoinMarketCap, the global crypto market capitalization had dropped by more than 1%, settling at $3.15 trillion at the time of reporting. This decline underscores the broader market’s cautious mood today. Additionally, Coinglass data indicated that over $191 million in liquidations occurred within the past 24 hours, further highlighting the heightened volatility seen across the board.
Bitcoin (BTC): Slipping Below the $95K Mark
At press time, Bitcoin experienced a modest 1% decline, bringing its price to $95,534.42. The cryptocurrency’s intraday trading ranged from a low of $95,270.45 to a high of $96,594.97, with liquidations totaling $25.08 million over the past day. Despite this pullback, Bitcoin’s dominance slightly increased by 0.31%, now standing at 60.31%.
Ethereum (ETH): A 2% Dip Amid Liquidations
Ethereum’s price fell by approximately 2% over the last 24 hours, closing at $2,710. During this period, ETH traded between a low of $2,714.12 and a high of $2,850.61, with $46.06 million worth of liquidations recorded. Ethereum maintained a market dominance of around 10.4%, reflecting its continuing significance in the market despite the recent decline.
XRP: A Subtle Slide to $2.48
XRP also mirrored the market downturn, falling nearly 2.5% in the past day to trade at $2.48. The Ripple-backed asset experienced an intraday range between $2.49 and $2.60, and $7.54 million in liquidations were noted. CoinGape reported that XRP is currently facing key resistance at $2.60 while edging closer to a potential breakout zone.
Solana (SOL): A Significant 5.5% Decline
Solana saw a sharper pullback, with its price plunging by 5.5% over the last 24 hours to approximately $160.78. SOL’s 24-hour trading window ranged from a low of $160.85 to a high of $173.04, with liquidations reaching $15.83 million. This steep decline marks one of the more notable drops in the current session.
Meme Coin Market: Following the Downward Trend
The meme coin segment has also been impacted by the market-wide sell-off. Dogecoin (DOGE) dropped 5.5% to trade at around $0.2302, Shiba Inu (SHIB) fell 4% to $0.00001491, and Pepe Coin (PEPE) declined by 4.5% to $0.000009024. These moves indicate that meme coins are largely following the broader market trend, with significant liquidations further contributing to their downward trajectory.
Top Gainers and Losers
Top Gainers Today:
- Sonic (S): Trading at $0.9076, up 12% over the past 24 hours.
- Cronos (CRO): Priced at $0.08952, with a 5% increase.
- Monero (XMR): At $236.29, showing a modest 1.5% gain.
Top Losers Today:
- Raydium (RAY): Dropped to $3.24, reflecting a steep 24% loss.
- Hyperliquid (HYPE): Fell 8% to $22.38.
- Story (IP): Also down 8% to $4.03.
Security Concerns and Market Impact
It is important to note that the recent volatility in the cryptocurrency sector is occurring against a backdrop of rising cyber-attacks. Crypto exchange Bybit recently suffered an incident that led to nearly $1.4 billion in ETH being drained from the platform. Additionally, the stablecoin neobank Infini experienced a hack, resulting in the loss of 49.5 million DAI. These security breaches may have triggered panic selling among investors, with Ethereum in particular bearing the brunt of the pressure.
Looking Ahead
Despite today’s volatility, optimism remains among some market observers. Analyst “Titan of Crypto” took to platform X to express bullish sentiments, predicting that the comeback of altcoins will be nothing short of legendary—a statement supported by emerging bullish formations in market cap charts. As investors navigate these turbulent times, many remain hopeful that the current dip may present opportunities for significant gains in the near future.
In summary, today’s market is marked by cautious sentiment and notable volatility, with key cryptocurrencies like Bitcoin, Ethereum, XRP, and Solana experiencing declines. Meanwhile, the meme coin market is also feeling the pressure, and broader security concerns continue to cast a shadow over the sector. However, with signs of potential recovery on the horizon, the coming days could offer intriguing opportunities for those ready to capitalize on the market’s shifts.
