Bitcoin’s price has experienced notable fluctuations surrounding tariff news but ultimately settled around $68,000. In the realm of larger-cap altcoins, minor increases were noted, with DOT, UNI, and NEAR standing out as top gainers.
Bitcoin Surpasses $68K
The leading cryptocurrency unexpectedly surged last weekend after maintaining $65,000 as a support level. A subsequent rise saw it reach nearly $71,000 initially. However, this rally was fleeting, and BTC soon retraced its gains throughout the week.
On Monday, resistance was met again around $70,000, leading to further declines that culminated in a rapid drop to $65,600 on Thursday. Following this dip, Bitcoin bounced back, quickly regaining its footing with a rise of $3,000.
Recent volatility arose again after the US Supreme Court deemed certain tariffs from President Trump’s administration as invalid. In response, the President announced an additional 10% global tariff to augment existing ones. Although BTC witnessed a sharp decline of $2,000 at one point, it rapidly recovered and is now trading above $68,000 once again.
The current market cap of Bitcoin has surpassed $1.360 trillion with a dominance rate of 56.5% over altcoins on CoinGecko.
BTCUSD Feb 21
BTCUSD Feb 21. Source: TradingView
Ethereum Classic Skyrockets
Despite most major cryptocurrencies only posting minor gains of less than 1%, Ethereum Classic has surged by 16%, hitting approximately $9.70. Other significant performers include DOT, UNI, and NEAR, each showcasing gains up to 8%.
As of now, the total cryptocurrency market cap stands at $2.415 trillion.
