March 2, 2025
BTC Rebounds $7K
Bitcoin had a turbulent week, dropping over $10,000 by Tuesday, hitting a low of $86,000. After a brief recovery, it fell further, hitting $78,200 on Bitstamp on Friday, its lowest in three months.
Despite predictions of further declines, Bitcoin has bounced back to nearly $85,000, recovering $7,000 since its low. BTC’s market cap is also still under $1.7 trillion, with dominance over altcoins near 58%.
Source: QuantifyCrypto
Altcoins in Recovery
Ethereum (ETH) has risen to $2,200, a 5% increase, while Binance Coin (BNB) nears $600 after a 4% gain. Ripple (XRP) is up 8% to $2.17. Other notable gains include Solana (SOL) at 10%, Dogecoin (DOGE) at 9.5%, and Cardano (ADA) at 7.5%.
The total crypto market cap has also surged by about $200 billion, reaching $2.9 trillion.
Other Markets
Stocks rose as concerns over tariff risks eased, but global challenges persist. Traders are closely watching China’s policy meeting. Coal prices in China remain low, masking a potential global supply squeeze. Iraq is in talks with Kurdish oil producers to restart oil flows.
Elsewhere, In Malaysia, the largest pension fund is increasing dividend payouts, while Macau’s MGM Cotai Casino Resort opened and gaming revenue exceeded expectations. State Street is preparing for earnings, and alongside Apollo, plans to rename a private debt ETF. Silicon Valley Bank’s collapse marks the largest failure since 2008, with the FDIC facing a $1.9 billion lawsuit.
