Cryptocurrency Price Update: Bitcoin Surpasses $87,000 with Market Gains

Cryptonews ASIA, BITCO, BITCOIN, CRYPTOCURRENCY, DOGE, INDIA, LITECOIN, MARKET ANALYSIS, MARKET TRENDS, SOLANA, TRADING VOLUME Dante Raeburn March 5, 2025

Cryptocurrency Price Update: Bitcoin Surpasses $87,000 with Market Gains

On March 5, Bitcoin surpassed $87,000, contributing to a $2.86 trillion global crypto market. Major altcoins, including Ethereum and Ripple, recorded positive gains, while AAVE emerged as the top gainer. The overall market sentiment reflects mixed feelings, with experts warning of anticipated volatility due to upcoming economic events.

As of March 5, Bitcoin (BTC) climbed to over $87,000, amid a global cryptocurrency market cap that reached $2.86 trillion, marking a 4.08% increase in the past 24 hours. Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) also experienced gains, contrasting with a Fear & Greed Index score of 25, indicating fear in the market. AAVE emerged as the top gainer with a nearly 22% surge, while dogwifhat (WIF) recorded significant losses with an 8% drop.

Bitcoin’s current price stands at $87,134.66, reflecting a 3.82% rise within the last day, while its value in India is approximately Rs 80.95 lakh. Ethereum is trading at $2,177.88, gaining 3.86%, and priced at Rs 2.13 lakh in India. Dogecoin (DOGE) increased by 3.77%, currently at $0.1983, while Litecoin (LTC) faced a loss of 1.26%, trading at $103.41. Ripple (XRP) saw a 4.83% rise to $2.45, and Solana (SOL) rose 3.49% to $142.54.

The top five gainers on March 5, per CoinMarketCap, included AAVE with a $212.73 price after a 21.24% gain, followed by Cardano (ADA) at $0.9308, Bitcoin Cash (BCH) at $346.16, Hedera (HBAR) at $0.2493, and Jito (JTO) at $2.38. Conversely, the largest losers consisted of dogwifhat (WIF) at $0.5725 with a 7.23% loss, Worldcoin (WLD) at $0.957, Grass (GRASS) at $2.29, Maker (MKR) at $1,357.83, and Optimism (OP) at $0.9327.

Industry experts weigh in on the current market dynamics. Edul Patel, CEO of Mudrex, asserted, “Bitcoin is on an upward trajectory, trading above the $87,100 level, with significant gains from altcoins like ETH, XRP, SOL, and ADA.” CoinSwitch remarked on Bitcoin’s volatility, anticipating fluctuations due to the approaching Crypto Summit on March 7, signaling a potentially tumultuous week for the crypto sector. Avinash Shekhar from Pi42 expressed cautious optimism driven by favorable investor sentiment despite ongoing market uncertainties due to regulatory shifts.

The CoinDCX Research Team highlighted the ongoing struggle for stabilization in the crypto market. Specifically, AAVE’s price surge corresponded with positive market sentiment following a proposed buyback from the Aave DAO. This sustained interest indicates a robust upward trend, as investors remain vigilant for any shifts within the volatile cryptocurrency landscape.

In summary, Bitcoin’s rise above $87,000 indicates a recovering sentiment in the cryptocurrency market, spurred by gains across major altcoins. AAVE led the day’s performance with significant increases, while various other cryptocurrencies experienced gains and losses. Market analysts emphasize the potential for volatility ahead of the Crypto Summit, indicating that investors should remain cautious and informed as they navigate this dynamic market.

Original Source: news.abplive.com