The crypto market continues to face pressure as currencies struggle with liquidity issues and market gaps. The market cap has decreased by 10.62% to $2.75 trillion.
Current Crypto Market Situation
Today's crypto market is experiencing significant challenges, including liquidity concerns and CME gaps. Investors are hopeful for the upcoming 'Crypto Summit' scheduled for March 7, which might rejuvenate the market.
Bitcoin: Decline and Hope
Bitcoin, the market's primary currency, has fluctuated significantly over the past 24 hours, starting at a low of $82,467.24 and reaching $84,033.44. Despite $1 billion in liquidations and a market cap decline to $1.84 trillion, Bitcoin's trading volume remains high, increased by 14.15%.
Altcoins Under Pressure
Ethereum has dropped by 13.95%, trading at $2,101.58. Ethereum’s competitors, such as Solana and XRP, have also suffered losses, decreasing by 18.86% and 16.55% respectively. Among the top gainers, Pi stood out by rising 3.49%, while Sonic and ADA were among the biggest losers, with losses of 24.37% and 23.79%.
Despite the current difficulties, many investors hope that the upcoming Crypto Summit will improve market conditions and lead to an accelerated market growth.
