What to know:
- Behold! Bitcoin‘s daring ascent above $84,400, just as the broader CoinDesk 20 Index bravely climbs by over 1.5%. But don’t worry, nobody’s fainting — yet.
- In what sounds like the beginning of a political sitcom, U.S. President Donald Trump invites crypto gurus to a summit on March 7. Perhaps he needs tips for his next big investment!
- BlackRock, in a move that almost feels like a slap on the back, has tossed in its spot bitcoin ETF into one of its model portfolios. Someone’s feeling adventurous!
Ah, the cryptocurrency market—like an old tire that just won’t blow. After a raucous plummet where Bitcoin fell to a meager $78,000 and the total market cap of digital tokens hit the floor like a drunk uncle at Thanksgiving—losing over $400 billion in one week—the scene now tentatively lifts its weary head.
The Crypto Fear & Greed Index took a nosedive to 10, a level last seen during the bear market of 2022, but let not your heart be troubled! It has since climbed to 20, still fighting valiantly in the “extreme fear” corner. We’re not saying things are rosy, but at least it’s not a funeral. 😅
After deciding Bitcoin wasn’t so bad after all, its price has bounced back with a flourish—up more than 3% over the last 24 hours, trading above $84,400. Meanwhile, the CoinDesk 20 Index (CD20) joins the party with a modest rise of 1.5% to 2,700. It’s a rollercoaster out there, folks! Except this time, SOL decided it was too cool for school and dropped nearly 3% — cheeky little thing!
And in a plot twist that could use more popcorn, the cryptocurrency market caught a whiff of good news on the wind after the White House announced it would host a crypto summit under the watchful eye of none other than President Trump. This gathering will gather the great and the powerful — founders, CEOs, investors, oh my! — to discuss the “fascinating” world of digital assets.
This event serves as an inviting flag for the Trump administration’s newfound love for cryptocurrencies. Just recently, the SEC dropped lawsuits against Coinbase and the MetaMask developer Consensys, as if they suddenly remembered they’re on a carnival ride instead of the stock market.
On top of all this excitement, the world’s largest asset manager, BlackRock, has added a sprinkle of the elusive IBIT to its portfolios. Did I hear “new wave of demand for bitcoin ETFs”? Looks like someone put a quarter in the gumball machine of digital assets, and out popped potential! 🎉
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2025-03-01 19:11