February 14 News: Due to the U.S. government shutdown caused by a budget impasse, parts of the Department of Homeland Security experienced a partial shutdown. However, amid increasing political uncertainty, the cryptocurrency market defied the trend and rallied, with major assets such as Bitcoin, Ethereum, XRP, and Solana showing significant rebounds, driving the overall market capitalization back up.
Market data shows that in the past 24 hours, the total cryptocurrency market cap increased by nearly 5%, reaching approximately $2.38 trillion. The prolonged weeks of volatility and decline had kept many investors on the sidelines, but this recent rebound has injected new activity into the market. Although some analysts predicted that the shutdown would increase selling pressure, the actual market movement has contrasted with those expectations.
Bitcoin is currently trading at around $69,765, up approximately 4.8% for the day. Despite a roughly 27% decline over the past month, signs of short-term stabilization are emerging. Ethereum has held the $2,000 level, now trading at $2,085, up 3.07%, indicating some defensive strength. XRP performed even better, trading at $1.44, with a single-day increase of over 6%, though it remains nearly 31% lower for the month. Solana also gained strength, now at $86.25, up about 8% intraday, though it is still down roughly 40% from a month ago.
Notably, the price rebound has not been accompanied by a corresponding increase in trading volume. Bitcoin’s 24-hour trading volume has decreased by about 17%, and Ethereum has also seen a slight decline, indicating that funds remain cautious. Market participants believe that this rally mainly reflects emotional recovery and short-term covering rather than a full trend reversal.
On a macro level, the U.S. government shutdown has heightened uncertainty about economic prospects. Some investors view cryptocurrencies as a hedge, which has driven short-term buying. Moving forward, inflation, interest rates, and progress in fiscal negotiations will continue to be key factors influencing the direction of the crypto market.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ark Invest Discovers Over $480 Billion in Bitcoin Vulnerable to Quantum Computing Attacks
A new report from ARK Invest warns that approximately 6.9 million Bitcoin — equivalent to an estimated value of 483 billion USD at an average price of 70,000 USD — are at risk of being attacked by quantum computers in the future.
Risk from elliptic curve cryptography
This threat centers on the elliptic curve cryptographic system
TapChiBitcoin8m ago
Perp DEX Becomes Largest Battlefield on Blockchain, Derivatives Volume 10 Times Spot Trading Sparks Competition
Cryptocurrency derivatives trading volume has significantly surpassed spot trading, making perpetual futures decentralized exchanges (Perp DEX) a core battleground for blockchains. Major public chains including BNB Chain's Aster, Aptos's Decibel, and Hyperliquid have begun deploying Perp DEX to enhance liquidity and trading environments. However, liquidity tends to concentrate among a few dominant platforms. In the future, platforms offering unique yields may emerge as long-term winners.
MarketWhisper16m ago
The Federal Reserve will release the Basel III proposal next week, with Bitcoin facing 1250% risk weight
Federal Reserve officials revealed that regulators will propose final Basel III rules from March 17-21, with public comment opening three months later. Bitcoin is classified as a high-risk asset requiring high capital reserves, sparking criticism from the crypto industry.
GateNews20m ago
Crypto market rebounds this morning, BTC touches $72,000, funding rates return to neutral
The crypto market rebounded on March 13, with Bitcoin recovering to 72,000 USD and Ethereum recovering to 2148 USD. Funding rates on major exchanges returned to neutral levels, indicating that bearish sentiment has eased. The funding rate is a mechanism that adjusts the relationship between contract prices and asset prices.
GateNews25m ago
Over the past 24 hours, the entire network liquidated $254 million, with short liquidations accounting for nearly 68% of the total.
Recently, Gate News reported that the entire network experienced liquidations totaling $254 million over the past 24 hours, with long liquidations accounting for $82.0731 million and short liquidations accounting for $172 million. Bitcoin and Ethereum both experienced significant liquidations, affecting 78,105 people globally. The largest single liquidation occurred on the Hyperliquid platform, valued at $4.2402 million.
GateNews47m ago
