Crypto Market Update: Bitcoin Drops to $95,000 Amid Bearish Sentiment
On February 12, 2025, Bitcoin’s price fell to $95,000, failing to maintain upward momentum. The decline follows bearish market sentiment and remarks from Fed Chairman Jerome Powell about a CBDC. Most top cryptocurrencies saw declines of over 9%, while notable gainers included Pi Network (+72%). Total market cap decreased to $3.14 trillion with a trading volume of $101 billion.
On February 12, 2025, Bitcoin demonstrated volatility as its price fell to $95,000, having briefly shown recovery above the $100,000 mark. This decline follows an assertion by Federal Reserve Chairman Jerome Powell regarding the absence of plans for a Central Bank Digital Currency (CBDC) under his leadership. The current bearish sentiment in the market has intensified selling pressure, resulting in a critical downturn for Bitcoin and other cryptocurrencies.
The downturn in Bitcoin’s momentum has significantly impacted various altcoins, with notable declines in prices for ENA, CRV, TIA, and TAO. Approximately 90% of the top 100 cryptocurrencies are experiencing reductions of over 9%, erasing prior daily gains. Key altcoins such as SOL, DOGE, XRP, LINK, ADA, and AVAX have registered losses near 6% throughout the last 24 hours, reinforcing the broader market trend.
As per data provided by Coinmarketcap, the overall cryptocurrency market capitalization has decreased by 3.1%, now standing at $3.14 trillion. Current trading volumes within the cryptocurrency sector have reached $101 billion over the past 24 hours. This movement reflects the pervasive bearish trends affecting the market following Bitcoin’s decline.
In the realm of trending cryptocurrencies today, B3, Pi (IOU), BERA (Berachain), LAYER (Solayer), and ONDO (Ondo Network) are attracting considerable attention. Positioned as daily gainers, the Pi Network has surged by 72%, while Limitus, IDEX, Aleph Zero, and PARISQ have reported gains of 36%, 33%, 25%, and 22%, respectively. The upcoming launch of the open network by Pi Network scheduled for February 20, is anticipated to amplify interest in the asset further.
In summary, the crypto market is facing notable challenges, particularly with Bitcoin’s price drop to $95,000 amid bearish sentiment and external influences such as comments from the Federal Reserve. This decline has affected multiple altcoins, resulting in a significant market capitalization decrease. Despite the downturn, certain cryptocurrencies are demonstrating resilience with substantial daily gains, indicating potential shifts in market dynamics.
Original Source: www.cryptotimes.io
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