Key takeaways
- BTC is down by less than 1% in the last 24 hours and is currently trading below $87k.
- It could dip lower if the bullish trend fails to prevail.
Bitcoin stalls around $86k
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices hover around key levels following a positive start to the week. The price action of the leading cryptocurrencies suggests fading bearish momentum.
However, the bulls have failed to push prices higher, and Bitcoin could revisit lower support levels in the near term. However, if the support levels hold, Bitcoin could rally higher over the next few days.
Analysts are optimistic that Bitcoin’s price could appreciate in the medium to long term. While commenting on the current market conditions, Coinbase UK CEO Keith Grose said,
“Market conditions are shifting as institutions across Europe take a more structured and regulated approach to digital assets. We’re seeing clearer frameworks emerge, stronger infrastructure being developed, and early examples of central banks and financial institutions running controlled pilots to build practical understanding – including the Czech National Bank’s recent decision to test a small, ring-fenced portfolio of digital assets.”
Bitcoin’s price could face further pressure
The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed in the last 24 hours. The leading cryptocurrency found support around the $80k psychological level on Friday and has slightly bounced back since then.
At press time, Bitcoin is trading around $86,800 per coin after failing to overcome the $90k resistance level. If the recovery continues, BTC could rally toward the next key resistance at $90,000. The ILQ and TLQ levels above $92k could also serve as short-term targets for Bitcoin.
The Relative Strength Index (RSI) on the 4-hour chart reads 47, after slipping below the oversold threshold last week, suggesting that downside pressure is declining. The MACD lines are also close to the bullish zone as buyers remain in control.
However, if BTC fails to overcome the $90k resistance, it could extend the decline toward the key psychological level at $80,000.
Key takeaways
- BTC dipped to the $86k level for the first time since November 2024.
- The Bitcoin Pepe presale has surpassed $3.5m as investors eye stage six.
Bitcoin falls to a three-month low as total crypto market cap dips below $3T
The cryptocurrency market has been bearish since the start of the week. Bitcoin is down by nearly 4% in the last 24 hours and briefly touched the $86k level on Tuesday. The dip was BTC’s lowest level in three months as the broader crypto market experienced a massive sell-off.
At press time, the price of Bitcoin stands at $88,752 and could continue with its recovery if the bulls regain control. The total cryptocurrency market cap also dropped below $3 trillion as Ether and other altcoins underperformed.
What is Bitcoin Pepe?
Bitcoin and other major cryptocurrencies have been underperforming over the last few days. However, investors could consider the dip as an opportunity to purchase more tokens before a possible market recovery.
Investors also continue to push funds into new and exciting projects. Bitcoin Pepe is one of the projects gaining ground in its presale thanks to its unique value proposition to investors.
Bitcoin Pepe is a project seeking to leverage the liquidity and security of the Bitcoin blockchain. The project will use Bitcoin’s position in the market to introduce memecoins to its ecosystem.
According to the official website, Bitcoin Pepe is a layer-2 network building on the Bitcoin blockchain. This project is a meme-specialized layer-2 solution built on top of Bitcoin, bringing Solana-style scalability to the Bitcoin network.
The layer-2 network will enable Bitcoin Pepe to become home to all memecoin trading and move all this economic activity to the BTC ecosystem. It will unlock decentralized finance (DeFi) and meme trading on top of BTC.
Bitcoin Pepe is also the first-ever meme initial coin offering (ICO) on the Bitcoin blockchain, making it the perfect fusion between BTC’s security and the unstoppable force of memecoins.
The project will make it easy for BTC Maxis to trade memes. Combining high levels of trust (BTC) with high levels of performance (SOL) will lead to high levels of retail mass adoption.
Bitcoin Pepe presale to enter stage six, raises over $3.5m
The Bitcoin Pepe presale is two weeks old and has raised over $3.5 million so far. The presale will enter the sixth stage in the coming hours or days, with the $BPEP price set to slightly increase.
$BPEP, Bitcoin Pepe’s native token, can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this fifth presale stage, $BPEP is going for $0.0255 and is set to increase to $0.0268 in the next stage. The Bitcoin Pepe presale could be an opportunity to purchase $BPEP at a discount.
Will Bitcoin Pepe improve the Bitcoin ecosystem?
Bitcoin Pepe will unveil products and services that would make memecoins available on the Bitcoin blockchain. While Bitcoin is the leading cryptocurrency in the world, its blockchain isn’t as versatile as Ethereum or Solana.
This project wants to change this narrative by introducing new utilities to the Bitcoin blockchain. With Bitcoin Pepe, memecoins can launch on the Bitcoin blockchain with ease. Introducing memecoins on the Bitcoin blockchain will enable it to become home to a crazy high-octane meme experience.
Bitcoin Pepe is set to unlock $2 trillion in dormant BTC capital and make it available for memecoin trading. This layer-2 network will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users. Its native $BPEP token will power several activities within the Bitcoin Pepe L2 network.
Should you buy the $BPEP token ahead of the sixth presale stage?
The Bitcoin Pepe presale is heading into its sixth stage in the coming hours or days, with the token price set to increase slightly. This could be an excellent opportunity to get in on the project as presales allow investors to gain early exposure to projects.
Bitcoin Pepe is working hard to become the leading L2 network on the Bitcoin blockchain, offering users security and liquidity. By ushering in the era of memecoins, Bitcoin Pepe could become one of the most important projects within the Bitcoin ecosystem. The presale allows investors to purchase its native token at a discount before it goes live on trading platforms.
Crypto prices today (February 26): Traders and investors remain rattled as Bitcoin (BTC) price briefly touched the $86K mark intraday, whereas altcoins showed a rising action during early Asian hours on Wednesday. ETH neared $2,500 after dropping to the $2,300 zone recently. XRP and Solana (SOL) prices jumped by 1-3%. Meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) also gained 1%-7%, sparking speculations amid the flagship coin’s converse momentum.
Crypto Prices Today Illustrate Mixed Actions, Investors Uncertain
The global crypto market cap lost nearly 1.6% in the past 24 hours, shredding down to $2.94 trillion. Moreover, Coinglass data showed that market liquidations over the past 24 hours totaled over $1 billion. Particularly with Bitcoin recording over $500 million in liquidations, the flagship coin’s waning price action remains rationalized.
BTC Price Touches $86K Low
As of press time, BTC price tanked over 3% and rested at $88,867. The flagship coin’s 24-hour bottom and peak were $86,008.23 and $92,299.84, respectively.
As mentioned above, the waning price action aligns with $588.25 million worth of liquidations in the past 24 hours, per Coinglass data. Moreover, Bitcoin’s market dominance also took a hit, slipping by 1.41% to 60.02%. This signaled that altcoins witnessed considerable price gains intraday.
ETH Price Nears $2,500
ETH price traded at $2,489 at the time of reporting, up marginally by 0.13% intraday. The coin hit a bottom and peak of $2,326.63 and $2,529.67 over the past day. Ethereum recorded comparatively fewer liquidations than BTC, totaling roughly $178 million intraday.
XRP Price Jumps 2%
XRP price witnessed gains worth 2% over the past day, closing in at $2.31. The Ripple-backed asset hit a low and peak of $2.08 and $2.36, in the past 24 hours. Liquidations for the crypto totaled nearly $38 million in the past 24 hours, per Coinglass statistics.
SOL Price Soars 5%
SOL price witnessed a remarkable 5% pump as of press time, exchanging hands at $143.56. The crypto hit a 24-hour low and high of $132.49 and $146.74, respectively. Solana recorded liquidations worth $48.25 million in the past 24 hours.
Meme Crypto Prices In The Green
Simultaneously, Dogecoin (DOGE) price pumped over 1% to reach $0.2118. Shiba Inu (SHIB) price gained over 4%, closing in at $0.00001432. Pepe Coin (PEPE) price surged over 6.5%, securing $0.000008358. Nevertheless, the Official TRUMP token remained in the red amid the loss of market confidence in PolitiFi tokens.
Top Gainer Crypto Prices Today
Maker (MKR)
Price: $1,680.5
24-Hour Gains: +21%
Celestia (TIA)
Price: $3.72
24-Hour Gains: +16%
Story (IP)
Price: $5.5
24-Hour Gains: +16%
Top Loser Crypto Prices Today
Raydium (RAY)
Price: $2.53
24-Hour Loss: -15%
Bitget Token (BGB)
Price: $4.40
24-Hour Loss: -7%
TRON (TRX)
Price: $0.2304
24-Hour Loss: -5%
For context, crypto prices have recently faced immense volatility, primarily due to macroeconomic heat and liquidity issues. CoinGape reported that the cryptocurrency market lost $323 billion in quite a brief period amid bearish events urging investors to panic sell. Nevertheless, market watchers remain cautious as although altcoins show signs of a potential recovery-trend cooking, BTC still awaits a pump.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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