Bitcoin’s price swings continue in full force as the asset bounced off $81,000 yesterday and gained eight grand in hours after that.

Many altcoins have produced even more impressive gains, helping the total crypto market cap go to $3 trillion.

BTC Aims at $90K?

What a period to be in the cryptocurrency space. Bitcoin’s price went through a massive volatile ride last week, from over $96,000 to $78,000. After that multi-month low, it recovered some ground and spent the weekend at around $84,000-$86,000.

The situation took a change for the better on Sunday afternoon following Trump’s latest interaction with the sector, and BTC shot up by ten grand to $95,000.

However, it was quickly rejected there and pushed south on Monday evening and Tuesday. The culmination came yesterday with a price dump to $81,500. Another reversal arrived at this point as BlackRock’s CEO urged people to consider buying the tip, and bitcoin went on the offensive again. This time, it jumped to $89,000 in mere hours after that drop below $82,000.

It has lost some steam since then but now sits at around $88,000 and is 5% up on the day. Its market capitalization has neared $1.750 trillion on CG, while its dominance over the alts stands tall at 58%.

ADA, LINK Shoot Up

Many altcoins have produced impressive gains over the past day, led by Chainlink and Cardano. Both assets have soared by over 16% within this timeframe and now trade above $16 and close to $1, respectively.

Ripple and Ethereum have also charted notable increases of over 5%. Consequently, ETH remains above $2,200, while XRP has tapped $2.5.

BNB, SOL, DOGE, TRX, AVAX, and SUI are also in the green from the larger-cap alts, while OM, XMR, HBAR, HYPE, and BCH, and especially AAVE, have painted big gains from the mid-caps.

The total crypto market cap has recovered roughly $200 billion since yesterday and is up to $3 trillion on CG.

Despite recent market struggles, Chainlink has managed to stage a notable recovery. Over the past 24 hours, the altcoin rose by over 16% amidst high volatility.

During this period, the top LINK wallets were found to have increased holdings to 18.15% of supply.

LINK Surges After Market Dip

Chainlink (LINK) has shown a notable rebound following a market-wide downturn, recovering from a low of $13.18 on Tuesday to reach $15.42, according to Santiment’s latest update. In the following hours, LINK even surpassed the $16 mark.

The analytics firm observed that the asset is currently experiencing “abnormally” high trading volume and volatility. Additionally, Santiment pointed to the top five LINK wallet holders, whose stashes continue to grow and now account for 18.15% of the total supply, worth approximately $2.93 billion.

This accumulation trend among major holders suggests continued confidence in the asset despite recent market turbulence. This aligns with LINK recently recording the highest whale activity in 14 months.

However, the movement of 2.23 million LINK tokens to crypto exchanges over the last two weeks risks derailing the bullish momentum as such actions suggest increased selling pressure or potential market activity. When large amounts of cryptocurrency are transferred to exchanges, it often indicates that holders may be preparing to sell, which can lead to downward price pressure.

LINK Among Top Contenders for US Strategic Reserve Inclusion

Meanwhile, LINK has also been identified as a potential candidate for inclusion in the US strategic reserve, according to CryptoRank’s latest tweet. While Trump has hinted at the inclusion of certain cryptocurrencies like XRP and ADA, he has also mentioned “other valuable cryptocurrencies,” leaving room for speculation about LINK’s potential inclusion.

As such, CryptoRank sees LINK, alongside Litecoin (LTC), Polkadot (DOT), and Hedera (HBAR), as a more viable option than meme coins such as Official Trump (TRUMP), Official Melania (MELANIA), Bonk (BONK), and even Dogecoin (DOGE).

Additionally, Chainlink has also been leading the development activity in the real-world assets (RWA) sector. The decentralized oracle network was found to have surpassed rivals like Ethereum-based synthetic asset platform Synthetix (SNX), and privacy and tokenization-focused Dusk Foundation (DUSK), among others.

TL;DR

• BTC’s short-term outlook looks bullish, with Trump’s March 7 crypto summit expected to prompt further gains.
• Arthur Hayes sees Trump’s debt-driven policies as Bitcoin-friendly, while BlackRock’s Larry Fink urges investors to buy dips, expecting an economic rebound.

A New Rally on the Horizon?

The cryptocurrency sector is an intriguing market notorious for its enhanced volatility. The past few days proved that thesis, with Bitcoin (BTC) registering wild price swings in both directions. 

Towards the end of February, the leading digital asset plummeted to a multi-month low below $80,000 as Donald Trump’s global trade war escalated. Just a few days later, though, it exploded to almost $95,000 following the US president’s confirmation that his administration would establish a strategic crypto reserve.

The next 48 hours offered a new doze of turbulence, with the cryptocurrency’s price tanking under $83,000 on March 4 and later rebounding to $89,000 (per CoinGecko’s data). The current level represents a 7% decline on a two-week scale.

Despite the downtrend for the aforementioned period, some important elements indicate that BTC might be gearing up for a bull run in the short term. 

Perhaps the most important factor is the upcoming crypto summit that President Trump will host in the White House on March 7. The gathering is expected to focus on vital topics such as addressing regulatory frameworks, the future of the digital asset industry in the US, and, of course, details on the crypto reserve. 

The summit will supposedly be attended by well-known names in the cryptocurrency sector, including Strategy’s founder Michael Saylor, Ripple’s CEO Brad Garlinghouse, Coinbase’s boss Brian Armstrong, Paradigm’s co-founder Matt Huang, and others. 

Another component that could positively impact BTC’s valuation in the near future is the asset’s exchange netflow. According to CryptoQuant’s data, the figure has been negative in the last seven days, suggesting a shift from centralized platforms toward self-custody methods. This could be interpreted as bullish since it reduces the immediate selling pressure. 

Last but not least, we will touch upon BTC’s Fear and Greed Index, which has entered “Extreme Fear” territory in the past two days. Plunging into that zone is often seen as a buying opportunity. After all, many great minds have previously advised investors to be more active when fear has spread as a predominant sentiment. 

In the 18th century, the British banker Baron Rothschild said, “The time to buy is when there’s blood in the streets, even if it’s your own.” One of the most successful investors, Warren Buffett, has also shared similar thoughts. He once said, “Be fearful when others are greedy, and be greedy when others are fearful.”

The Experts’ Take

The crypto community cheered the election of Trump as America’s 47th President given his positive stance toward the industry. One prominent person who believes the Republican’s administration will be highly beneficial to the sector is Arthur Hayer (former CEO of BitMEX). 

Recently, he claimed that Trump’s plan to fund his “America First” policies would rely heavily on borrowing, forcing the Federal Reserve to expand the money supply and cut interest rates. He pointed out that similar economic conditions in the past have benefited BTC.

For his part, BlackRock’s CEO, Larry Fink, advised investors to buy any price dips, as he expects an economic rally in the following months. He also reportedly said that “the world is fine” despite Trump’s trade tariffs, which have caused panic across the financial markets.