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February Gains Disappear as Bitcoin Drops Below $9k
Crossing below the $9,000 price level is a new low for February 2020. Bitcoin has not traded below the $9,000 threshold since January 27, when it began a march to new highs in the $10,500 range.
Автор Daniel Cawrey
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At around 13:00 UTC, bitcoin's price began dropping steadily, contributing to a 7 percent slide over the past 24 hours. Exchanges including Coinbase and Bitstamp saw declines in prices from $9,270 to below $8,700.
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Crossing below the $9,000 price level is a new low for February 2020. Bitcoin has not traded below the $9,000 threshold since Jan. 27, when it began a march to new highs in the $10,500 range.
A flood of sell orders are sinking prices, as Coinbase hourly charts over the past 24 hours show.
The sharp bitcoin drop comes as the traditional financial markets are recovering from a major selloff. In the U.S., the S&P 500 is off 5. 5 percent since the start of the week on fear the coronavirus could slow the global economy. Equities recovered a bit Wednesday, with the index showing a modest gain of half a percent by the midday.
The traditional safe haven, gold, has been relatively steady. Its price has stayed in the $1,600 range so far this week and made a small gain Wednesday, up over $6 to $1,641 per troy ounce at press time.
“The fact that BTC could not rally in the face of the advance by gold prices and drop in equities was a 'tell,'’” professional commodities trader Peter Brandt wrote in a recent tweet.
Other notable cryptocurrencies are also down, including , ether and XRP , with 24-hour losses of 11 percent, 10 percent and 9 percent, respectively, on Wednesday at 17:45 UTC.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Що варто знати:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Silver nears $1 billion in volume on Hyperliquid as bitcoin remains frozen: Asia Morning Briefing
Silver perps have more volume on Hyperliquid than SOL or XRP.
Що варто знати:
- Silver futures on the Hyperliquid crypto derivatives exchange have surged to become one of its most active markets, ranking just behind bitcoin and ether in trading volume.
- The SILVER-USDC contract’s high volume, sizable open interest and slightly negative funding suggest traders are using crypto infrastructure for volatility and hedging in macro commodities rather than for directional crypto bets.
- Bitcoin is holding near $88,000 in a "defensive equilibrium" with cooling ETF inflows, uneven derivatives positioning and rising demand for downside protection, while ether lags and capital rotates toward hard assets like gold and silver.
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