What Happened in Crypto Today? Big Surges & Market Shifts Unfold!

The crypto market is buzzing with high-volatility swings, ETF developments, and political influences shaping the future of digital assets. From Bitcoin’s new price levels to altcoin ETFs and market sentiment changes, here’s everything you need to know about what happened in crypto today.

Market Overview: Global Crypto Market Hits $2.74 Trillion

The global cryptocurrency market capitalization climbed to $2.74 trillion, marking a 1.45% increase in the last 24 hours. However, daily trading volume saw a drop of 13.99%, now at $73.45 billion.

• DeFi trading volume: $5.16B (7.03% of total market)
• Stablecoin dominance: $68.79B (93.66% of total trading volume)
• Bitcoin dominance: 60.71%

Bitcoin Price Surge: Heading for a New ATH?

Bitcoin (BTC) jumped to $84,192, showing a 1.15% daily gain, with its market cap at $1.66 trillion and $27.39 billion in trading volume.

Key Drivers of Bitcoin’s Surge:

• Institutional interest surges, bolstered by political support.
• Congressman Byron Donalds’ proposal for a Strategic Bitcoin Reserve could integrate BTC into U.S. monetary strategy, potentially boosting long-term value.
• Analyst projections suggest BTC could soon reach $90K and beyond if support above $84K holds firm.

VanEck Files for Avalanche ETF – Altcoin Adoption Grows

Asset management giant VanEck has submitted a filing for an Avalanche (AVAX) ETF with the U.S. SEC, aiming to track the MarketVector Avalanche Benchmark Rate.

This move follows VanEck’s earlier AVAX ETF registration in Delaware—signaling rising institutional interest in altcoin ETFs.

Solana Soars: CME Futures & Inflation Vote Fuel Surge

Solana (SOL) rebounded impressively:

• Current Price: $132.84 (+5.58% in 24h)
• Market Cap: $67.71B (+5.53%)
• Trading Volume: Up 29.99%

What’s Behind SOL’s Rise?

• The Chicago Mercantile Exchange (CME) is set to launch Solana Futures on March 17, opening doors to a possible SOL ETF.
• The community is actively voting on SIMD-0228, a proposal to reduce Solana’s inflation rate by 80%, adding more appeal for long-term investors.

Global Politics & Crypto: Trump’s Comments Create Market Jitters

Former President Donald Trump’s remarks on the Russia-Ukraine conflict have stirred fresh volatility in the market. Historically, Trump’s comments have moved crypto markets—this time, investors are watching closely for the next big move.

Potential Scenarios:

• War escalation → BTC & stablecoins become safe havens.
• Peace signals → Traditional market focus may rise again.

David Sacks’ $200M Crypto Sell-Off Before White House Role

Tech mogul David Sacks reportedly sold over $200 million in crypto and stocks before becoming the White House AI and Crypto Advisor. According to a March 5 memo:

• $85M linked directly to Sacks
• Sell-offs included major holdings in BTC, ETH, and SOL
• Move aims to avoid conflict of interest during regulatory policymaking.

Market Sentiment Check: Fear Still Dominates

The Crypto Fear and Greed Index stands at 46, reflecting a “Fear” sentiment in the market. Although fear has eased slightly, regulatory and geopolitical uncertainties still loom.

Historically, low sentiment levels have preceded strong market recoveries, making this a potential accumulation phase for savvy investors.

Final Thoughts: Altcoin Season or Market Setup?

While Bitcoin leads the rally, altcoins are gaining serious traction, hinting at the start of an altcoin season. But risks such as ETF delays and global tensions still cast a shadow.

Current Price Highlights:

• Bitcoin (BTC): $84,192 (+1.15%)
• Ethereum (ETH): $1,928 (+1.49%)
• Solana (SOL): $132.84 (+5.58%)
• XRP: $2.40 (+3.67%)

If current momentum holds, the market may continue this bullish breakout phase — with $BTC eyeing $90K and $ETH potentially targeting $2,200+ in the short term.

Also Read:

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