Bitcoin (BTC) has surged to a new all-time high of $109,000, rebounding sharply from a recent low of $104,200. This rally has propelled the total cryptocurrency market capitalization above $3.5 trillion for the first time since early February, signaling a broad market recovery. Investor sentiment remains firmly in "Greed" territory, with the Crypto Fear & Greed Index holding at 70.
The rally has sparked significant activity across the market. Bitcoin futures open interest has surged to a record high of over $78 billion, rising more than 11% in the past 24 hours, indicating traders are positioning for further upside. Liquidation heatmaps reveal a dense cluster of short positions just above $108,000, suggesting a breakout could trigger a powerful short squeeze. Analysts are closely watching the $108,000 to $110,000 resistance zone, with a clean break potentially opening the door to price discovery toward $115,000 and beyond.
Institutional inflows continue to provide a solid foundation. Over the past two days, U.S. spot Bitcoin ETFs recorded nearly $1 billion in fresh capital. Prominent traders are bullish on the outlook; Arthur Hayes views $110,000 as a key psychological level that, if breached, could pave the way for a rally toward $150,000–$200,000 by the cycle's end. Michael van de Poppe and analyst Mags have echoed ultra-bullish sentiments, with cycle high projections ranging from $200,000 to $215,000.
The altcoin market has participated in the rally, with its total cap increasing 3% to over $1.36 trillion. While major cryptocurrencies like Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) posted gains of 1-5%, the highest gains were concentrated in lower-cap tokens. dogwifhat (WIF) was a top gainer among the top 100 altcoins, rising roughly 10%.
Cardano (ADA) specifically saw a standout performance, rising 13% in 24 hours to $0.9384 and marking a 64% recovery from its recent low of $0.57. This surge is attributed to regulatory optimism ahead of the upcoming White House Crypto Summit hosted by President Donald Trump on March 7, 2025. Cardano has been named in Trump's proposed US Strategic Crypto Reserve, and founder Charles Hoskinson's potential attendance has fueled bullish sentiment. Fundamentally, Cardano's Total Value Locked (TVL) in DeFi surged 52% in six days to $408 million.
Other notable gainers include KAITO, which jumped 22.7% amid a new listing on South Korea's largest exchange, Upbit, and Dohrnii (DHN), which skyrocketed 118.1% on explosive trading volume.
