🔊Weekly Market Highlights #138: February 17 - February 24

✨After last week's dump, the crypto market rebounded in the second week of February 2025, with major headlines stirring public interest. Pi Network announced its open main net launch, and Bybit exchange suffered a $1.4 billion hack, marking the largest crypto attack in history.

✨Over the past week, the crypto market total capitalization decreased by ~$27B (from ~$3195B to ~$3168B).

✨BTC Volatile Week
✅After failing to break past $99K last Friday, BTC remained range-bound around $97K over the weekend. However, as the new business week began, BTC dropped to $95,5K on Monday and continued its decline to $93,5K on Tuesday, marking its lowest level in over two weeks.

✅At this point, bulls stepped in, preventing further losses. On Friday, BTC rebounded and gained momentum, fueled by positive news from Coinbase regarding its SEC lawsuit. This pushed the asset to a 13-day high of $99,5K, reigniting hopes of a breakout above $100K.

✅However, market sentiment quickly shifted following Bybit’s record-breaking hack, where $1.5B in ETH was stolen from its hot wallet. The panic triggered a sharp sell-off, with BTC plunging over $4K within hours.

✅Despite the setback, BTC rebounded on Saturday, climbing above $96K.

✨Featured News
✅Bybit announced a massive hack, resulting in the loss of approximately $1.5 billion worth of Ethereum. The breach occurred during a routine transfer from a cold wallet to a warm wallet. Bybit's CEO, Ben Zhou, assured clients that their assets remain secure and that the company is collaborating with blockchain forensic experts to trace the stolen funds.
Source: LINK

✅SEC intends to drop its lawsuit against Coinbase, which sought to regulate the company as a securities exchange. This decision aligns with the current administration's pro-cryptocurrency stance and may lead to a more favorable regulatory environment for crypto exchanges.
Source: LINK

✅After years of anticipation, Pi Network was finally listed on exchanges, allowing free trading of PI for the first time. The launch sparked massive interest, marking a major milestone for the project.

📊 Market Indicators
✨Bitcoin Fear and Greed Index is 49 - Neutral, lower than at the beginning of the week (51)

✅Total 2 Index (Marketcap excluding BTC) is now at $1235B

✨Dominance:
✅BTC: 60.4%
✅ETH: 10.5%

📣See you next week!

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