- Earlier in the day, Bitcoin dropped below the 80k mark and lost about 37% of its peak of $109K
- The Fear and Greed Index recently reached an “Extreme Fear” score of 10, the lowest level in two years
- $PI has been performing well in the past day: it reached a new all-time high of $2.78 on February 26, from an all-time low of $0.6152 it recorded on January 20, the day of its open mainnet launch
The crash of the global crypto market continued on Friday, February 28, as major coins, including the world’s largest crypto, Bitcoin, suffered massive losses. Earlier in the day, Bitcoin dropped below the 80k mark and lost about 37% of its peak of $109K. The coin hit an all-time high during the inauguration of President Donald Trump of the United States on January 20.
The poor performance in the past few days has already wiped out 2025's gains and pushed the entire market into the red zone.
At the time of writing, Bitcoin had struggled to get back above 80k, trading at $83,631, down 1.36% compared to yesterday’s equally bad numbers. The market has bled massively, dropping to $1.66 trillion from over $2 trillion about a month ago. The only positive is that crypto enthusiasts are buying the dip: the traded volume of Bitcoin in the past day surged by 25.07% to $85.21 billion.
The bleeding has also affected the mood of crypto enthusiasts. The Fear and Greed Index recently reached an “Extreme Fear” score of 10, the lowest level in two years. At the time of writing, the index was 21, signifying stable “Fear.”
Other coins like Ethereum have also been affected by the selloffs. At the time of writing, Ethereum was trading at $2,236, down 3.27% in the past day, while the market capitalization dropped to $269.45 billion from over $412 billion about a month ago. However, the traded volume of ETH in the past day increased to $36.25 billion, a spike of 20.53% compared to the previous day’s numbers. ETH’s price is 54.5% off its all-time high of $4,891, attained three years ago on November 16, 2021.
According to data from Coinmarketcap, XRP has also crashed to $2.14, down 2.19% from yesterday’s equally bad numbers, while the traded volume in the past day has increased by 42.82% to $8.66 billion. XRP’s price is currently 44.1% off from its all-time high recorded 7 years ago on January 4, 2018.
The new kid on the block, $PI, has, however, been performing well in the past day: it reached a new all-time high of $2.78 on February 26, from an all-time low of $0.6152 it recorded on January 20, the day of its open mainnet launch. At the time of writing, the coin was trading at $2.16 with a market cap of $14.46 billion and a 24-hour traded volume of $1.83 billion.
Man who threw away hard drive with $770M worth Bitcoin loses latest chances of recovery
Meanwhile, TheRadar earlier reported that Judge Keyser KC, the Circuit Commercial Judge for Wales in the United Kingdom, has dashed the hopes of James Howells, an IT engineer from Newport, who threw away his hard drive containing more than $770 million worth of Bitcoin.
Howells mistakenly threw away the hard drive containing 8,000 Bitcoin, which he mined in 2009 and is now valued at about $770 million. The hard drive eventually ended up in a landfill.
