{"id":21536,"date":"2025-02-26T15:50:25","date_gmt":"2025-02-26T13:50:25","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-back-to-89000-as-altcoins-lead-the-rebound\/"},"modified":"2025-02-26T15:50:25","modified_gmt":"2025-02-26T13:50:25","slug":"bitcoin-back-to-89000-as-altcoins-lead-the-rebound","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-back-to-89000-as-altcoins-lead-the-rebound\/","title":{"rendered":"Bitcoin back to $89,000 as altcoins lead the rebound"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>Cryptocurrencies remain under pressure from a weak macro backdrop; Nvidia\u2019s earnings, due overnight into February 27, could prove pivotal.<\/li>\n<li>In Ethereum options, demand is rising for $2,000-strike contracts alongside a rotation out of calls.<\/li>\n<li>At MakerDAO, three positions totaling $340 million are at risk if the price of the second-largest cryptocurrency falls.<\/li>\n<\/ul>\n<\/div>\n<p>The price of digital gold recovered to $89,000 after <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-falls-to-new-yearly-lows-below-89000-2\">nearing $86,000<\/a> the previous day amid large liquidations and <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-etf-sees-daily-outflow-exceeding-1-billion\">record outflows<\/a> from ETFs.<\/p>\n<p>A brisker bounce is evident among altcoins. Gains among the top ten by market value range from 2.8% to 9.5%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1448.webp\" alt=\"1-1448\" class=\"wp-image-252791\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">26 \u0444\u0435\u0432\u0440\u0430\u043b\u044f 2025 | 17:44<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>Bitcoin again slipped below $86,000. It has since recovered to $86,750.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"453\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-02-26_17-42-19-1024x453.png\" alt=\"BTCUSDT_2025-02-26_17-42-19\" class=\"wp-image-252813\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-02-26_17-42-19-1024x453.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-02-26_17-42-19-300x133.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-02-26_17-42-19-768x340.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/BTCUSDT_2025-02-26_17-42-19.png 1355w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\" title=\"\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Most altcoins also turned red. Ethereum fell to $2,400.<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.coindesk.com\/markets\/2025\/02\/26\/xrp-bnb-edge-higher-as-bitcoin-bulls-eye-usd90k-after-tuesday-bloodbath\">CoinDesk<\/a> noted rising odds of policy easing by the <span data-descr=\"US Federal Reserve System\" class=\"old_tooltip\">Fed<\/span> in May after a drop in US consumer confidence.<\/p>\n<p>QCP Capital warned that in volatile markets cryptocurrencies are the first assets to be liquidated as traders rush to cut risk.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Asia Colour \u2014 25 Feb 25<\/p>\n<p>1\/ <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a> has finally broken out of its range, dipping below $90K for the first time in a month, triggering over $200M in liquidations. Despite this, skews remain steady, and 1M IV hovers around 50v.<\/p>\n<p>Macro pressures are mounting.<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/1894319381133627553?ref_src=twsrc%5Etfw\">February 25, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm also flagged Nvidia\u2019s earnings and management guidance due overnight into February 27.<\/p>\n<p>In the current environment, the analysts urged caution. In their view, recent demand for bitcoin has been <a href=\"https:\/\/forklog.com\/en\/news\/strategy-shares-decline-following-acquisition-of-20356-btc\">driven<\/a> mainly by organisations such as Strategy using raised capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Asia Colour \u2014 24 Feb 25<\/p>\n<p>1\/ Just 2 days after the <a href=\"https:\/\/twitter.com\/Bybit_Official?ref_src=twsrc%5Etfw\">@Bybit_Official<\/a> hack\u2014where ~$1.4B in <a href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&#038;ref_src=twsrc%5Etfw\">#ETH<\/a> was stolen\u2014crypto markets have barely reacted. Prices &#038; implied vols remain stable, a sign of how much the market has matured since FTX\u2019s collapse in 2022.<\/p>\n<p>\u2014 QCP (@QCPgroup) <a href=\"https:\/\/twitter.com\/QCPgroup\/status\/1893961697498652784?ref_src=twsrc%5Etfw\">February 24, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>They estimate crypto accounted for about 19% of capital raised over the past 14 months. QCP Capital did not rule out that the market is nearing saturation, which could dampen institutional buying if spot remains \u201csluggish\u201d.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cRising bitcoin dominance and falling altcoin prices suggest that alt bulls have already taken their positions. Any new inflows will be directed to digital gold,\u201d<\/em> the specialists forecast.<\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>Ethereum at $2,000?<\/strong><\/h2>\n<p>Thomas Erdezi, head of product at CF Benchmarks, <a href=\"https:\/\/www.theblock.co\/post\/343442\/ethereum-makes-slight-recovery-but-institutional-downside-hedging-has-surged-analysts-say\">noted<\/a> a rise in open interest at the $2,000 strike in Ethereum options, reflecting investor caution. At the same time, there is a rotation out of calls as market participants have trimmed expectations of a breakout.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cTraders are rolling positions to the downside around $2,000,\u201d<\/em> the expert commented.<\/p>\n<\/blockquote>\n<p><span data-descr=\"chief operating officer\" class=\"old_tooltip\">COO<\/span> of Bitget Wallet, Alvin Kan, drew attention to the risk of $340 million across three MakerDAO positions being liquidated if the asset\u2019s price falls to $1,926, $1,842 and $1,793.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cThe sell-off has put those who opened leveraged longs in a difficult spot. [\u2026] If forced closures accelerate, downside pressure will intensify,\u201d<\/em> Kan suggested.<\/p>\n<\/blockquote>\n<p>He noted that what happens next depends on changes in leverage and on the ability of spot demand to absorb the shock.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cIf bulls step in or liquidity stabilises, the market could stage a sharp reversal,\u201d<\/em> the Bitget Wallet COO concluded.<\/p>\n<\/blockquote>\n<p>According to Binance CEO Richard Teng, the crypto drawdown <a href=\"https:\/\/forklog.com\/en\/news\/binance-ceo-describes-crypto-market-correction-as-a-tactical-retreat\">is short-lived<\/a> and will not last long.<\/p>\n<p>Earlier, Eric, son of US President Donald Trump, <a href=\"https:\/\/forklog.com\/en\/news\/eric-trump-advocates-buying-bitcoin-during-market-dips\">urged<\/a> accumulating bitcoin on the dip. On February 4 he also <a href=\"https:\/\/forklog.com\/en\/news\/eric-trump-urges-buying-ethereum\">recommended buying ETH<\/a> after a major correction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies remain under pressure from a weak macro backdrop; Nvidia\u2019s earnings, due overnight into February 27, could prove pivotal. In Ethereum options, demand is rising for $2,000-strike contracts alongside a rotation out of calls. At MakerDAO, three positions totaling $340 million are at risk if the price of the second-largest cryptocurrency falls. The price of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1168,46,1145,1150,1326],"class_list":["post-21536","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-bitcoin-price","tag-crypto-derivatives","tag-ethereum","tag-market-analysis","tag-news-plus","tag-qcp-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21536"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21536\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}