February 8, 2025 Crypto Market Update: Bitcoin Holds Steady at $96K Amid Market Dip

February 8, 2025 Crypto Market Update

The cryptocurrency market started the day on a sluggish note, with the overall market capitalization slipping by 1.37% to $3.13 trillion. Despite the downturn, trading activity saw a 5.75% increase, pushing the total 24-hour volume to $131.99 billion. Investors, however, remain cautious, as reflected in the Fear & Greed Index, which currently sits at 35—indicating a state of “Fear.”

Bitcoin Price Today: Holding Strong at $96K

Bitcoin (BTC) experienced a 1.11% decline in the past 24 hours, trading at $96,148.71. Despite the dip, BTC retains a commanding market capitalization of $1.905 trillion, maintaining its dominance at 61.01%. The surge in 24-hour trading volume to $54.38 billion suggests continued investor interest in the leading cryptocurrency.

Altcoin Performance: A Mixed Market Reaction

• Ethereum (ETH) struggled with a 3.52% decline, bringing its price down to $2,620.51.
• Solana (SOL), often dubbed the “Ethereum-killer,” also slipped 1.17% to $191.06.
• XRP, however, defied the broader trend, posting a 0.76% gain to reach $2.37.

Top Gainers: Flare Leads the Charge

Flare (FLR) emerged as the best-performing cryptocurrency, soaring 9% in the last 24 hours. Other notable gainers include:

• XCN: Up 6.5% to $0.0279
• Maker (MKR): Gained 5%, now trading at $948.28

Top Losers: BERA, MOVE, and LDO Take a Hit

On the downside, several cryptocurrencies recorded double-digit losses:

• BERA: Plunged 15% to $6.86
• MOVE: Dropped 12% to $0.5412
• LDO: Declined 10% to $1.54

As the market continues to evolve, investors are keeping a close eye on trends and potential catalysts. Stay tuned for daily updates on the latest crypto developments.