Cryptocurrency Price Update: Bitcoin Dips Below $89,000 on February 26

Cryptonews ASIA, BITCOIN, CRYPTOCURRENCY, DOGE, INDIA, LITECOIN, MARKET ANALYSIS, MARKET TRENDS, SOLANA, SONIC (, TRADING VOLUME Omar El-Sharif February 26, 2025

Cryptocurrency Price Update: Bitcoin Dips Below $89,000 on February 26

Bitcoin dropped below $89,000 on February 26, contributing to a 3.60% loss in the global crypto market cap of $2.94 trillion. Altcoins, including Ethereum, Solana, and Litecoin, also fell sharply, while Story (IP) emerged as the top gainer. Experts advise caution in navigating this volatile landscape amid broader economic concerns.

On February 26, Bitcoin fell below $89,000, continuing a downward trend, while the global cryptocurrency market cap decreased to $2.94 trillion, representing a 3.60% loss over a 24-hour period. Altcoins, including Ethereum, Solana, Ripple, and Litecoin, also faced declines as the Market Fear & Greed Index indicated a state of fear at 26 out of 100.

Currently, Bitcoin’s price stands at $88,960.09, down 3.31% in the past 24 hours, while Indian exchanges report it at Rs 82.79 lakh. Ethereum is priced at $2,497.98 after a 7.68% drop, translating to Rs 2.35 lakh locally. Dogecoin has also seen a substantial decline of 8.71%, now worth $0.2106 (Rs 20.07 in India). Litecoin and Ripple have experienced dips of 7.43% and 7.71%, respectively, with prices of $113.31 and $2.26.

Of note, the biggest gainer in the last 24 hours was Story (IP), which surged by 19.85%, currently priced at $4.73. Other gainers include DeXe (DEXE) with a 3.46% increase, PAX Gold (PAXG) rising by 0.23%, KuCoin Token (KCS) with a 0.17% gain, and TRON (TRX) increasing by 0.02%.

Conversely, the most significant losers included Sonic (S), which dropped by 15.53%, Lido DAO (LDO) down 14.53%, Hyperliquid (HYPE) declining by 13.86%, Aave (AAVE) falling 13.75%, and Sui (SUI) dropping by 13.43%.

In response to the current market conditions, Alankar Saxena, CTO and co-founder of Mudrex, noted that Bitcoin entering a buying territory presents an accumulation opportunity after a significant correction. He attributed the decline in market cap to low US consumer confidence and geopolitical tensions stemming from trade disputes, advising caution to retail investors in light of potential further declines.

The CoinSwitch Markets Desk highlighted Bitcoin’s resilience following a drop to $86,000, suggesting it is facing resistance around $90,000. They noted a recent bounce back amidst broader market sell-offs and discussed Gamestop’s strategic interest in converting cash reserves into Bitcoin. CoinDCX’s research team observed that Bitcoin had dipped below $86,000 due to market instability caused by tariffs imposed by President Trump, affecting both stock and crypto markets.

Given the volatile nature of the cryptocurrency market, investors are encouraged to approach with caution and seek expert advice before proceeding with investments, particularly as cryptocurrency remains unregulated and carries inherent risks.

In summary, on February 26, Bitcoin’s price dropped below $89,000, reflecting a broader decline in the cryptocurrency market, with significant losses across major altcoins. Expert analyses emphasize cautious investment strategies amidst current market instability, as geopolitical tensions contribute to high volatility. With prominent gainers and losers, the market remains unpredictable, warranting careful navigation for investors.

Original Source: news.abplive.com