On February 11, Bitcoin surpassed $97,000, contributing to a global crypto market cap of $3.20 trillion. While many major cryptocurrencies saw minor gains, Raydium stood out as the top gainer, and Ethena faced significant losses. Market experts urge caution as Bitcoin tests key support levels.

On February 11, the global cryptocurrency market cap reached $3.20 trillion following an encouraging uptick in prices. Bitcoin (BTC), the most recognized cryptocurrency, surpassed $97,000, highlighting a 0.73 percent increase over the past 24 hours. Other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC), exhibited modest gains. In contrast, the Market Fear & Greed Index indicated a sentiment of 37 (Fear) out of 100, according to CoinMarketCap data.

Raydium (RAY) emerged as the leading gainer, with a remarkable price jump of nearly 15 percent within the last day. On the opposite end, Ethena (ENA) was recorded as the top loser, with a significant drop of approximately 5 percent. As for Bitcoin’s performance, it currently stands at $97,556.92, buoyed by its recent rise.

Ethereum (ETH) also saw positive movement, now priced at $2,677.21, marking a 1.71 percent increase. Dogecoin (DOGE) rose by 3.46 percent, currently trading at $0.2574, while Litecoin (LTC) experienced an impressive jump of 11.96 percent, reaching $125.60. Ripple (XRP) and Solana (SOL) displayed varying trends, with XRP priced at $2.44 (up 2.05 percent) and Solana at $201.14 (down 0.87 percent).

In terms of today’s notable gainers, Raydium (RAY) leads with a price of $5.37, showing a 14.96 percent increase, followed by other cryptocurrencies like Helium (HNT) and Virtuals Protocol (VIRTUAL), witnessing gains of 13.76 percent and 11.42 percent, respectively.

Conversely, Ethena (ENA) leads the list of losers, now priced at $0.4754 with a decline of 4.73 percent. Onyxcoin (XCN), Mantra (OM), DeXe (DEXE), and Monero (XMR) also faced losses.

Industry experts are analyzing the current trends, with Sathvik Vishwanath, CEO and co-founder of Unocoin, noting, “Bitcoin is currently testing a key support zone around $95K, sitting near its 100-day moving average… a potential recovery. However, BTC remains trapped within a $90K to $108K consolidation range.” His insights suggest careful monitoring of the market in the coming days as significant actions unfold.

In summary, the cryptocurrency market saw Bitcoin rising past $97,000 while the overall market cap increased to $3.20 trillion. Notable gainers included Raydium and Helium, while Ethena and Monero faced losses. Experts emphasize the importance of observing key support and resistance levels in the Bitcoin market, indicating a cautious yet optimistic outlook for potential future movements. Investors are advised to stay informed and consult experts prior to making any investment decisions.

Original Source: news.abplive.com

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