What Happened in Crypto Today? Shocking Price Swings and Key News!

What Happened in Crypto Today? Market Overview & Key Updates

The global crypto market capitalization turned the corner to 2.74 trillion dollars, increasing by 1.45% in one day. However, total market trading volume fell from earlier values by 13.99%, to land at 73.45 billion dollars. DeFi trading volume stood at $5.16 billion, accounting for 7.03% of the total, while stablecoin trading volume dominated at $68.79 billion (93.66%). Bitcoin’s dominance decreased slightly to 60.71%.

Bitcoin Price Surge: Breaking New Highs?

Bitcoin's price today rose to $84,192, which is a daily growth of 1.15%. The market capitalization has now reached $1.66 trillion, with more than $27.39 billion traded. The timing of this rally is particularly interesting, given the escalating institutional interest and political movements such as Congressman Byron Donalds' bill proposing the establishment of a Strategic Bitcoin Reserve. If that law is enacted, it would prevent future administrations from dismantling the reserve, with Bitcoin cementing its presence within U.S. financial strategy and, while doing so, likely enhancing the scope for price appreciation.

VanEck Files for Avalanche ETF as Altcoin Interest Grows

Global asset manager VanEck has filed with the U.S. SEC for an Avalanche (AVAX) ETF, allowing investors to gain direct exposure to AVAX tokens. The fund will track the MarketVector Avalanche Benchmark Rate, aggregating prices from major exchanges. This move comes after VanEck’s recent $AVAX ETF registration in Delaware, signaling a growing demand for altcoin-based ETFs. The ticker symbol for the ETF has yet to be revealed.

Solana Price Surge Ahead of CME Futures Launch

Solana (SOL) enjoyed an uptick following a weekly loss; it is now trading at $132.84 after a 24-hour increase of 5.58%. The market cap has increased by 5.53% to stand at $67.71 billion while the trading volume has inflated by 29.99%. Chicago Mercantile Exchange {(CME)} plans to launch Solana Futures on March 17, and this may lead to a Solana ETF in the near future. The community is also voting for SIMD-0228, which proposes a reduction in the Solana inflation rate by 80%, thereby potentially creating interest among long-term investors.

Trump’s Comments on Russia Ukraine War May Shake Crypto Markets

Donald Trump’s recent statement on the Russia Ukraine war has sparked market concerns. His past comments and policies have influenced crypto prices, with events like the Trump Crypto Reserve and trade tariffs causing volatility. With bitcoin dominance at 60.75% and having the Crypto Fear & Greed Index of 46 is fueling uncertainty further. If the war escalates, investors may move to Bitcoin and stablecoins, whereas peace talks could shift interest back to traditional markets.

David Sacks’ $200M Crypto Sell-Off Before White House Role

Venture capitalist David Sacks and his firm divested over $200 million in crypto and stocks before his appointment as the White House AI and crypto czar. A March 5 White House memorandum revealed that $85 million of the divestment was directly linked to Sacks. The move aimed to eliminate conflicts of interest as he helps shape U.S. crypto regulations. His firm offloaded holdings in Bitcoin ($83,915), Ethereum ($1,928), and Solana ($132.91) before Trump’s inauguration.

Fear and Greed index: The Market Sentiment Remains in the 'Fear' Zone

Now, the Crypto Fear and Greed Index is found at 46. This is termed fear within the market. The index helps to show the fears of investors regarding regulatory changes, macroeconomic uncertainties, and geopolitical tension. If market conditions improve, a shift toward greed could drive prices higher. However, ongoing concerns—especially regarding the Russia-Ukraine war and ETF approvals—may keep volatility high.