Cryptocurrency market update: Bitcoin sinks below $86,000, Altcoins follow suit

At the time of writing, the global cryptocurrency market cap stood at $2.99 trillion, marking a 24-hour loss of 3.60 percent. The market downturn reflects a broader trend of volatility as investors react to global financial developments and industry-specific factors.

The cryptocurrency market on Thursday faced a downturn, with Bitcoin (BTC) dropping below the $93,000 mark. Several altcoins, including Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC), also witnessed significant losses. The overall Market Fear & Greed Index stood at 42, indicating a neutral sentiment, as per CoinMarketCap data.

Meanwhile, Story (IP) emerged as the biggest gainer with a 24-hour surge of over 19 percent, whereas Sonic (S) suffered the steepest decline, losing nearly 16 percent within a day.

At the time of writing, the global cryptocurrency market cap stood at $2.99 trillion, marking a 24-hour loss of 3.60 percent. The market downturn reflects a broader trend of volatility as investors react to global financial developments and industry-specific factors.

Bitcoin (BTC) price update

Bitcoin was trading at $92,108.36, registering a 3.31 percent decline over the last 24 hours, according to CoinMarketCap. In Indian markets, BTC was valued at Rs 82.79 lakh.

Ethereum (ETH) price update

Ethereum, the second-largest cryptocurrency, saw a sharper decline, trading at $2,497.98, down by 7.68 percent. ETH price in India stood at Rs 2.35 lakh.

Other major cryptos

Dogecoin (DOGE): The meme-based crypto fell by 8.71 percent, priced at $0.2106. In India, DOGE was valued at Rs 20.07.

Litecoin (LTC): LTC dropped by 7.43 percent to trade at $113.31, with the Indian price at Rs 10,682.47.

Ripple (XRP): XRP was trading at $2.26, reflecting a 7.71 percent decline. The price in India was Rs 215.74.

Solana (SOL): SOL recorded one of the steepest declines, plunging 13.41 percent to $137.42. In India, it was valued at Rs 13,740.49.

Top crypto gainers (February 27)

Despite the broader decline, some cryptocurrencies managed to register gains:

Story (IP): Price: $4.73 | 24-hour gain: 19.85 percent
DeXe (DEXE): Price: $19.11 | 24-hour gain: 3.46 percent
PAX Gold (PAXG): Price: $2,969.28 | 24-hour gain: 0.23 percent
KuCoin Token (KCS): Price: $12.01 | 24-hour gain: 0.17 percent
TRON (TRX): Price: $0.2429 | 24-hour gain: 0.02 percent

Top crypto losers (February 25)

Several cryptocurrencies experienced heavy losses over the past 24 hours:

Sonic (S): Price: $0.7301 | 24-hour loss: 15.53 percent
Lido DAO (LDO): Price: $1.38 | 24-hour loss: 14.53 percent
Hyperliquid (HYPE): Price: $19.04 | 24-hour loss: 13.86 percent
Aave (AAVE): Price: $205.84 | 24-hour loss: 13.75 percent
Sui (SUI): Price: $2.84 | 24-hour loss: 13.43 percent