Market Highlights: Bitcoin and Ethereum Lead Recovery
Bitcoin staged a notable recovery today, climbing from $116,000 to $118,400 amid mixed market sentiment.
Analysts remain divided, with some viewing BTC as undervalued while others warn of potential profit-taking.
Meanwhile, Ethereum surged past $4,200—a level last seen in December 2024—fueled by institutional demand and a circulating supply of 121 million ETH.
Altcoin Momentum: BNB, SOL, and XRP Show Strength
BNB broke through 810 USDT (+1.74%) as Binance ecosystem developments attracted corporate buyers.
Solana held steady at $181 with bullish technical indicators, while XRP traded at $3.24 following its legal clarity.
Analysts note a 95% probability for both SOL and XRP spot ETF approvals.
Read more: Top 5 cryptocurrencies to invest in 2025: Invest Smartly!
On-Chain Insights: Bitcoin Accumulation Continues
Glassnode reports investors acquired 120,000 BTC during recent dips, with long-term holders demonstrating conviction.
This absorption of sell pressure suggests underlying market strength despite volatility.
Breaking News: Regulatory Developments
El Salvador passed landmark legislation allowing investment banks to hold Bitcoin, cementing its position as a crypto hub.
In contrast, Coinbase announced the delisting of Function X (FX) due to its migration to Pundi AI.
Separately, Bybit disclosed a February 2025 hack resulting in $1.5 billion losses, triggering $5.5 billion in user withdrawals.
Read more: Cryptocurrency Trading: The Essentials Before You Start.
Market Outlook
With multiple ETF approvals likely and institutional adoption growing, the market appears poised for sustained momentum.
However, traders should monitor Bitcoin’s ability to hold $116K as a key support level.
