It has been a volatile week in the cryptocurrency markets, with the total market capitalization hovering around $2.36 trillion, largely unchanged from the previous week. The week began with Bitcoin experiencing a sharp decline, dropping from above $67,000 to below $63,000 on Monday. However, a swift recovery saw BTC surge from $63,000 to $70,000 in less than two days, only for the rally to falter and the price to settle slightly above $66,000. The Crypto Fear and Greed Index remains in "extreme fear" territory, indicating persistent negative market sentiment.
Ethereum co-founder Vitalik Buterin has continued selling ETH, with total disposals reaching approximately 18,700 ETH. This exceeds his previously stated plan to sell 16,384 ETH, which he indicated would fund open-source software, hardware development, privacy tools, and security-critical infrastructure projects. The sales amount to roughly $38 million.
Meanwhile, XRP is showing signs of increased spot buying activity. Exchange Bitrue reported a 212% surge in spot buying on February 26th, with much of the activity linked to ETF inflows, suggesting steady institutional demand. While this has not yet significantly impacted XRP's price, it may indicate a structural shift in its market dynamics.
Analyst commentary this week highlighted mixed signals. Bitwise CIO Matt Hougan dismissed claims that Jane Street was orchestrating Bitcoin's downturn, attributing the price action to a "classic crypto winter." Analyst Willy Woo suggested selling pressure may be exhausted, anticipating a period of consolidation with a rebound potentially rejected in the mid-$70,000 range. He forecasts the bearish trend ending in Q4 2026, with bullish momentum resuming in early 2027. On a positive note, Bitcoin ETFs have recorded $1.01 billion in inflows since Tuesday.
Technical analyses for major altcoins suggest ongoing struggles. Ethereum faces strong resistance at $2,111, while XRP remains trapped in a descending channel. Solana failed to hold above its 20-day EMA, and Dogecoin faces selling pressure above $0.10. The broader market narrative remains one of defensive consolidation and prevailing bearish sentiment.
