As of February 28, 2025, the cryptocurrency market is going through a period of significant correction and instability caused by macroeconomic factors and geopolitical turmoil. The total market capitalization fell to $2.65 trillion, which is 7.45% lower than the previous day, reflecting panic among investors.
Current market situation
On the night of February 28, Bitcoin (BTC) plummeted below $80,000 for the first time since mid-January 2025, hitting a local low of $79,231. At the time of writing, the price is fluctuating between $80,000 and $82,000, but analysts warn of the risk of further falling to $75,000 if the key support level does not hold.
The drop of 7.7% overnight is attributed to the escalation of the US-China trade war after President Donald Trump announced new 25% duties on Chinese imports, which increased fears of a global recession.
Ethereum (ETH) also suffered losses, dropping to $2,500 (down 6.5%), and the overall CoinDesk 20 index fell by more than 10%. Altcoins, including memecoins, showed a variety of dynamics: for example, the Trump token lost 15.5%, reflecting sensitivity to political news. At the same time, Solana (SOL) holds its position at $220, demonstrating relative stability due to activity in DeFi.
The total blocked value (TVL) in decentralized finance dropped to $58 billion, the lowest since the beginning of the year, indicating capital outflows. The "fear and greed" index fell sharply to 25 ("extreme fear"), the lowest value since July 2022.
US inflation data released on February 28 showed an increase above expectations (3.2% vs. 2.9%), which increased pressure on risky assets, including cryptocurrencies.
Key events of the day
- Trade war: Trump's new tariffs caused panic on the markets.
- Liquidations: $2.24 billion worth of positions were liquidated overnight, one of the highest figures this month.
- Regulatory news: The SEC announced the suspension of six cases against crypto companies, which may signal a temporary easing of pressure.
What happened on February 28 in previous years?
- February 28, 2013: Bitcoin traded at $32, continuing its slow growth after the early bullish momentum. This day was a period of gradual realization of BTC's potential, although no significant events were recorded.
- February 28, 2014: This day became part of the "post-Mt. Gox" crisis. After the bankruptcy of Mt. Gox (announced on February 24), bitcoin fell to $550, and the community discussed the future of centralized platforms. On February 28, the market remained in a state of panic.
- February 28, 2017: Bitcoin was approaching $1,200 on the eve of the historic 2017 rally. This day had no big news, but reflected the bullish sentiment before the 2016 halving.
- February 28, 2020: The crypto market was preparing for a collapse due to the COVID-19 pandemic. Bitcoin was trading at $8,600, but fell to $3,850 in two weeks. On February 28, investors began to show caution due to the first economic signals.
- February 28, 2023: Bitcoin held at $23,400 during the recovery period after the 2022 crypto winter. It wasn't a great day, but it was part of a gradual return of confidence in the market.
On February 28, 2025, the crypto market is under intense pressure due to macroeconomic shocks, including Trump's new tariffs and unfavorable inflation data.
Bitcoin is struggling to hold support at $80,000, and investors are taking a wait-and-see attitude. Historically, this day has not been a turning point, but it has often reflected broader market sentiment, ranging from panic to cautious optimism.
In the coming hours, the market's reaction to the US data and BTC's ability to maintain current levels will be key. Traders are advised to remain cautious and follow the updates.
