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Crypto Market - 24-Hour [February 26, 2025] 1. Bitcoin Plunges to $86,000 โ€“ Now Trading Around $88,000 ๐ŸŸ  The entire crypto market is painted red, dragged down by macroeconomic factors and a risk-off sentiment. ๐ŸŸ  Bitcoin dropped 8%, while $ETH , $XRP , and $SOL saw losses of 8-10% in a single day. ๐ŸŸ  Total crypto market cap fell 8% to $2.86 trillion the lowest since November 2021. 2. Key Drivers ๐ŸŸ  Donald Trumpโ€™s announcement of import tariffs on Canada and Mexico sparked market panic. ๐ŸŸ  Cash flow dried up after the memecoin bubble burst. ๐ŸŸ  Last weekendโ€™s Bybit hack sent shockwaves through the industry.
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3. Bitcoin Solidifies Dominance ๐ŸŸ  BTC dominance surged from 41% (Nov 2021) to 61%, while ETHโ€™s share shrank from 20% to 10%. ๐ŸŸ  Altcoins outside the top 9 are fading, with their market share dropping from 25% to just 9%. ๐ŸŸ  The crypto market lacks major breakthroughs, with Bitcoin continuing to cement its lead. 4. Expert Takes ๐ŸŸ  Binance CEO Richard Teng: Crypto reacts to macro forces like traditional assets but always has strong recovery potential. ๐ŸŸ  Geoffrey Kendrick (Standard Chartered): Bitcoin got caught in a sell-off wave triggered by the memecoin crash on SOL$SOL and broader risk-off vibes. ๐ŸŸ  Matt Hougan (Bitwise CIO): The MemeCoin bubble is over, but DeFi , stablecoins , and institutional Bitcoin adoption will drive the next growth phase.
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5. Pressure from Derivatives & ETFs ๐ŸŸ  $227 million in BTC futures liquidatedโ€”the third-highest since September 2024. ๐ŸŸ  The GMCI 30 index fell 6% in 24 hours, down 26% over the past month. ๐ŸŸ  U.S. spot Bitcoin ETFs saw net outflows of $516 million on Feb 24, followed by a further 6% drop on Feb 25. 6. Policy Bright Spots ๐ŸŸ  The SEC officially ended its probes into Uniswap Labs, Coinbase , Robinhood, and Opensea. ๐ŸŸ  This signals a softer regulatory stance toward crypto.
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