🚨$BTC holds near $68,000 as volatility cools, WLFI jumps ahead of Mar-a-Lago forum
Bitcoin trades in a tight range as derivatives stabilize and altcoins show pockets of strength ahead of key macro cues and a high-profile crypto event.
👉🏻What to know:
🔸 Bitcoin is up 0.9% on Wednesday to around $68,000, holding between $65,100 and $72,000 since Feb. 6 as volatility and funding rates cool.
🔸 Open interest sits at $15.5 billion, funding rates are flat to slightly negative, and options skew has eased, signaling a more balanced market.
🔸 The Trump-backed WLFI token has surged nearly 19% in 24 hours ahead of a Mar-a-Lago crypto forum, while MORPHO extends its weekly rally.
The crypto market continues to trade within a tight range on Wednesday, with bitcoin
(BTC $67,582.79)
rising by 0.9% to around $68,000 since midnight UTC.
The largest cryptocurrency has held between $65,100 and $72,000 since Feb. 6 as market volatility has reduced following a Feb. 5 selloff that took BTC to its lowest point since October 2024.
The altcoin market is running its own race. Monero ($XMR ) and
#ADA $0.2822
are posting gains of 3% and 1.7%, respectively, since midnight, while zcash (#ZEC ) and hyperliquid ($HYPE ) lost 3.5% and 1.1% over the same period.
The muted performance across the crypto market comes as U.S. equities begin to claw their way out of trouble — S&P 500 and Nasdaq 100 index futures are up 0.57% and 0.66% since midnight UTC as investors await hints on monetary policy when the Fed releases its meeting minutes later on Wednesday.