Crypto Market Rebounds: BTC Hits $87K

The cryptocurrency market experienced a significant rebound on March 5th, with Bitcoin (BTC) leading the charge. Following recent volatility, major cryptocurrencies reversed losses, sparking investor optimism.

Crypto Market Recovery

The overall crypto market capitalization increased by nearly 4.5% in 24 hours, reaching $2.89 trillion. Liquidations, which had spiked to $1 billion the previous day, cooled down to below $500 million, according to Coinglass data. This recovery follows concerns over new US import tariffs on Canada, Mexico, and China.

Bitcoin (BTC) Price Surge

BTC price jumped nearly 4%, trading at $87,400. The price fluctuated between $81,529.24 and $88,911.27 within the 24-hour period. This surge coincided with Japanese firm Metaplanet's acquisition of 497 BTC ($43.9 million), signaling strong buying pressure.

Ethereum (ETH) Price Gains

ETH price rose over 4%, reaching $2,159. The price ranged from $1,996.77 to $2,220.36 during the day. Reports that US President Trump holds over $500 million worth of ETH, highlighted by trader Crypto Rover, contributed to investor confidence.

XRP Price Rebound

XRP price saw a remarkable 7% increase, closing at $2.44. The price ranged from $2.29 to $2.52. This recovery followed reports of whales accumulating 1 billion XRP during the recent market downturn.

Solana (SOL) Price Increase

SOL price climbed nearly 5% to $142, fluctuating between $131.57 and $146.40. This positive movement mirrored the broader market trend.

Meme Coin Performance

Dogecoin (DOGE) and Shiba Inu (SHIB) also saw gains, with DOGE rising 4% to $0.1995 and SHIB up 3% to $0.00001293. Pepe Coin (PEPE) increased by approximately 1% to $0.000006945.

Top Performing Cryptocurrencies

Aave (AAVE)

Price: $209.19
24-Hour Gains: +21%

AAVE's significant price increase correlates with a new Aave community proposal to enhance the ecosystem's economic structure, focusing on revenue distribution, staking incentives, and liquidity management.

Cardano (ADA)

Price: $0.9335
24-Hour Gains: +17%

ADA's strong performance is linked to reports of Donald Trump's plans to include ADA in a US crypto reserve.

Bitcoin Cash (BCH)

Price: $345.36
24-Hour Gains: +14%

BCH's price increase aligns with the overall recovery in Bitcoin's price.

Top Losing Cryptocurrencies

dogwifhat (WIF)

Price: $0.5656
24-Hour Loss: -6%

Worldcoin (WLD)

Price: $0.952
24-Hour Loss: -5%

Optimism (OP)

Price: $0.9263
24-Hour Loss: -3%

Despite previous market challenges, the crypto market demonstrated resilience with this recovery. However, market conditions are constantly changing, and it is crucial to conduct thorough research before making any investment decisions.

Disclaimer: This content is for informational purposes only and does not constitute financial advice. Conduct thorough research before investing in cryptocurrencies. Codeum is not responsible for any personal financial losses.