Crypto Prices Today Show Mixed Signals as Investors React to Economic Data
On February 14, the cryptocurrency market experienced a wave of uncertainty among investors, influenced by the latest economic figures from the U.S. Bitcoin (BTC) hovered around the $97,000 mark, despite facing some volatility, while Ethereum (ETH) was trading close to $2,700. In contrast, XRP enjoyed a notable surge of over 4%, while Kaspa (KAS) emerged as the day’s standout performer. Meanwhile, meme coins predominantly struggled, trading in negative territory. Let’s delve deeper into the performance of some of the most notable cryptocurrencies today.
Market Overview: BTC Near $97K, Altcoins Face Challenges
Following the recent release of the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data, the cryptocurrency landscape appears to be experiencing fluctuations. While Bitcoin and other leading cryptocurrencies maintained levels similar to the previous day, many altcoins and meme coins found themselves in decline. The global crypto market capitalization fell nearly 1% to approximately $3.2 trillion, and trading volumes plummeted by 21.44%, totaling $102.13 billion.
Bitcoin Price Stalls Below $97K
As of the latest updates, Bitcoin was trading at $96,812, just shy of the $97,000 threshold. The cryptocurrency’s intraday low and high were recorded at $95,269.71 and $97,550.89, respectively. Bitcoin’s market dominance remained stable at 59.80%, although its price movement has been sluggish, influenced by broader market trends and macroeconomic conditions. Notably, data from Coinglass indicated that Bitcoin experienced $28.83 million in liquidations throughout the day.
Ethereum Trades at $2,700 Amid Slight Decline
Ethereum’s price fell by nearly 1% over the last 24 hours, settling at $2,712. The cryptocurrency’s lowest and highest points during the intraday trading were $2,615.67 and $2,725.59, respectively. As the second-largest digital asset by market capitalization, Ethereum reported a market dominance of 10.2%. Additionally, Coinglass data revealed that Ethereum saw liquidations amounting to $27.03 million in the past day.
XRP Rallies with Over 4% Increase
XRP experienced a significant uptick of over 4% within the last day, bringing its price to $2.58. The coin’s trading range during the day was between $2.42 and $2.60. This increase comes amid growing optimism within the Ripple community, particularly following the U.S. Securities and Exchange Commission’s acknowledgment of Grayscale’s filing for an XRP exchange-traded fund (ETF).
Solana Price Holds Steady Near $200K
Solana’s price recorded a minor decline of 0.5%, currently sitting at $196.74. The intraday low and high for Solana were $189.43 and $197.31, respectively. Recent reports indicate that Pump Fun offloaded $28 million worth of Solana, contributing to the current volatile price movements.
Meme Coins Struggle with Price Declines
The price of Dogecoin (DOGE) fell by 0.5% to reach $0.2632. Similarly, Shiba Inu (SHIB) experienced a 2% drop, trading at $0.00001647, while Pepe Coin (PEPE) also declined by 2%, now valued at $0.000009894. In contrast, the TRUMP meme coin rose by 5%, reaching $16.36.
Top Gainers in the Crypto Market
Kaspa (KAS) Price: $0.103124 – Hourly Gains: +9%
Kaspa’s price surge coincides with the announcement of its upcoming perpetual futures listing on the Coinbase International Exchange, set to launch on February 20.
Jupiter (JUP) Price: $0.912924 – Hourly Gains: +8%
The JUP token’s rise is attributed to a recent buyback plan by the Jupiter DEX community, which aims to utilize 50% of its protocol fees for JUP repurchases over the next three years, beginning on February 17.
Hyperliquid (HYPER) Price: $26.2424 – Hourly Gains: +3%
Hyperliquid has seen gains following a 9.07% rise in its futures open interest, now totaling $629.80 million, reflecting increased investor interest.
Top Losers in the Crypto Market
PancakeSwap (CAKE) Price: $2.7824 – Hourly Loss: -8%
Onyxcoin (XCN) Price: $0.023192 – Hourly Loss: -8%
Bittensor (TAO) Price: $381.56 – Hourly Loss: -6%
Despite the current downturn, crypto analysts remain hopeful about the market’s future trajectory. Market expert “Ash Crypto” recently shared a message on social media, suggesting that “Altseason 2.0 is on the horizon. Stay prepared.”
