Open Custody Protocol Kurs OPEN

The cryptocurrency market is experiencing significant turbulence this week, with Solana ( #SOL ) facing particularly steep challenges. As the excitement surrounding memecoins wanes, prices have dropped to their lowest levels in several months. Following the historic hack of the ByBit exchange and President Trump’s controversial tariff proposals, the overall crypto market has seen a downturn, with Bitcoin falling 12% in the past week. In contrast, Solana has plummeted 22%, reaching a new five-month low. 🔸 Solana Struggles As New Data Shows Dramatic Drop As reported by Fortune, the decline in Solana’s value can be attributed to its association with recent celebrity-backed memecoin scandals, particularly the #LIBRA incident. This cryptocurrency surged to a nearly $5 billion market cap before crashing, following promotion from Argentine President Javier Milei, whose involvement has sparked outrage and prompted an investigation. Zach Pandl, head of research at the crypto asset manager Grayscale, noted that this incident has highlighted the volatility and risks associated with memecoins, stating, “The current phase of memecoin trading on Solana is over.” Solana’s rise as the preferred blockchain for memecoin development was largely due to its low transaction costs, high transaction speeds, and user-friendly infrastructure. 🔸 Analysts Warn Of Potential Drop Below $100 While many memecoins lack intrinsic value and are often linked to scams, Pandl suggested that the recent memecoin frenzy had some positive impacts on the Solana ecosystem. “It onboarded users, generated revenue, and helped stress test the Solana blockchain in various ways,” he explained. “In that sense, memecoin trading is one of the many building blocks to developing the next generation of financial infrastructure.” Adding to Solana’s woes, the open interest for Solana futures has declined by 44% over the past month, dropping from an all-time high of $6.39 billion to just $3.57 billion today.

Bitcoin price is struggling to initiate a recovery rally as it faces increasing bearish domination below $90K. As a result, BTC price might soon aim for a retest of immediate support channels. Over the past 24 hours, Bitcoin’s trading volume has increased by more than 200%, totaling $79.4 billion. In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. On 24 Feb, the price again declined, reaching a new low since November 2024. Over the last 24 hours, its total market capitalization dropped by 1.07%, settling at $1.71 trillion. Bitcoin Faces $337 Million Liquidation On Wednesday, the price of Bitcoin (BTC) was around $88,800, following a dip to $86,050 the day before. The price correction in BTC was supported by US Bitcoin spot Exchange Traded Funds (ETFs), which saw their highest single-day outflow on Tuesday. According to a K33 report, the market reacted negatively to MicroStrategy’s recent Bitcoin purchase, coinciding with renewed worries about tariffs imposed by US President Donald Trump. Global investors are increasingly nervous as signs emerge that the so-called exceptionalism of the U.S. economy may be dropping, amid preparations by President Donald Trump to implement tariffs. On Monday, Trump confirmed his intention to impose a 25% tariff on imports from Canada and Mexico starting in early March. This announcement has heightened market unease, leading to a sharp rally in safe-haven U.S. Treasury prices and pushing yields to their lowest in two months. Recent data from Coinglass reveals that Bitcoin saw nearly $337 million in total liquidations over the last 24 hours, with buyers liquidating $278.6 million and sellers around $59 million, indicating a significant increase in long liquidations. Additionally, the open interest for Bitcoin has dropped by 4.6%, touching over $54 billion in the last 24 hours. However, Bitcoin’s funding rate trades at +0.0068%, indicating that buyers remain somewhat bullish. This could help buyers to continue pushing the BTC price upwards. Bitcoin Price Prediction: Technical Analysis Bitcoin’s price is experiencing strong bearish pressure as it continues to drop below immediate Fib levels. As a result, sellers are now holding the price around the $84K level. Currently, Bitcoin trades at $84,387, reflecting a 4.4% drop in the past 24 hours. The BTC/USDT trading pair will now aim for a retest of the $81K level. As selling pressure intensifies, buyers will continue to defend further decline. However, if Bitcoin rebounds above $81K, we might see a recovery toward $89,000. On the other hand, if Bitcoin fails to meet buyers’ demand around $81K, we might see further decline toward the low of $77K. Bitcoin Price Prediction: What to Expect Next? Short-term: According to BlockchainReporter, BTC price might aim for $81K. If it rebounds above that level, we might see $90K. On the other hand, $77K is the lower range. Long-term: According to Coincodex’s current Bitcoin price prediction, the price of Bitcoin is expected to increase by 42.50% and reach $125,879 by March 28, 2025. The technical indicators currently suggest a bearish sentiment, and the Fear & Greed Index indicates a level of 25, categorized as Extreme Fear. Over the last 30 days, Bitcoin has experienced 12 green days out of 30, equating to 40% positivity, with a price volatility of 3.06%. Given this forecast from Coincodex, it is currently considered an inadvisable time to purchase Bitcoin. How much is Bitcoin price today? Bitcoin price is trading at $84,387, at the time of writing. The BTC price has dropped by over 4.4% in the last 24 hours. What is the BTC price prediction for February 26? Throughout the day, BTC price might aim for $81K. If it rebounds above that level, we might see $90K. On the other hand, $77K is the lower range. Is Bitcoin a Good Buy Now? According to long-term forecasts, Bitcoin price might reach $125,879 by March 28. This makes BTC price a good investment considering its monthly yield. Investment Risks for Bitcoin Investing in Bitcoin can be risky due to market volatility. Investors should: Conduct technical and on-chain analysis. Assess their financial situation and risk tolerance. Consult with financial advisors if necessary.

$KAITO surged 41.5% on Feb. 27, hitting an intraday high of $2.52 as its market cap jumped past $600M. The rally was driven by a 66% surge in open interest in KAITO futures, renewed whale accumulation, and overall AI sector momentum following Nvidia’s strong Q4 results. The token also broke key resistance at $2.1, with technical indicators signaling continued bullish momentum. Analysts see $3–$5 as the next major targets if the uptrend holds.

Litecoin ($LTC ) demonstrated a V-shaped recovery of 20% after dropping to $106 on Feb. 25. After a brief decline below the 50-day and 100-day exponential moving averages (EMAs), the altcoin has regained a bullish position and is currently outperforming a majority of assets within the crypto market. Litecoin has “one of the best charts in crypto” Litecoin’s current performance implies it is on an asymmetric rally versus the wider crypto market, and most LTC futures traders maintain a clear directional bias. Data highlights a clear trend where LTC’s open interest has consistently peaked at $140. During LTC’s recent correction, its open interest dropped from $885 million to $525 million, which is a 40% drop between Feb. 20 and Feb. 26. However, a majority of the OI declined within the first three days. It remained flat during LTC’s drawdown in the past two days. In the past 24 hours, a flash OI spike of 10% was observed alongside a price rise, which might imply fresh long positions from traders. The rise in the funding rate further confirmed that more longs were currently active than shorts. The analyst said, “LTC hit $350 USD during 2017 — a 310x move. It retested the 2017 high during the 2020 bull run but failed to make a new ATH. In the current (2023-2025) bull run, it hasn’t moved much yet, but it is indicating an upside move this year. If it breaks above $250 USD, then $1,000 is feasible.” Overhead resistance hangs at $140 As illustrated in the chart below, Litecoin’s weekly price action is exhibiting strength, and a candle close above $133 will mark its highest level since January 2022. However, the altcoin has failed to break above its overhead resistance at $140 over the past three months.

⚠️BWENEWS: COINDESK: Coinbase, NEAR, Others Form Alliance to Develop Open AI Services ⚠️方程式新闻: COINDESK：Coinbase、NEAR 等结成联盟，开发开放式 AI 服务 $NEAR