Mike Smith
7 days ago
.png)
On March 2, 2025, the price of Bitcoin skyrocketed to $95,000 after US President Donald Trump announced the creation of a strategic reserve of digital assets. However, the rate of the first cryptocurrency soon corrected, falling to $91,700 by the time of publication.
Amid sharp fluctuations, the cryptocurrency market experienced significant liquidations on futures contracts. Over the past 24 hours, traders' losses exceeded $925 million, with more than $377 million coming from liquidating long positions and about $547 million from short positions. In total, more than 206,630 traders' positions were liquidated, according to CoinGlass.
Bitcoin's market dominance also showed volatility, dropping to 60.2% at the peak of its price growth, but then recovering to 61.2%. The market capitalization of the first cryptocurrency is estimated at $1.8 trillion.
Bitcoin's sharp rise has caused a similar movement in the top 10 crypto assets by capitalization. Most leading digital currencies have recorded growth of more than 20%, but after the initial jump, their value has partially rolled back.
Market sentiment remains tense. The fear and greed index has grown from 26 to 33 points in a day, indicating persistent fear among investors.
Earlier, on February 28, Bitcoin had already shown a significant correction, falling below $80,000, indicating high uncertainty in the digital asset sector.
