Crypto Market Begins to Rebound as Bitcoin Tops $84K Ahead of Trump’s Summit
The crypto market is starting to catch its breath after a brutal stretch, with Bitcoin climbing back up to $84,400, signaling a potential recovery from its roughest month in three years. Just this past week, the leading crypto took a nosedive to $78,000, dragging the total market capitalization down by more than $400 billion. Now, a mix of positive developments, including a high-profile summit hosted by U.S. President Donald Trump and BlackRock’s strategic move into Bitcoin, has investors cautiously optimistic.
The recovery follows a period of intense unease. The Crypto Fear & Greed Index, a barometer of investor sentiment, plummeted to 10 earlier this month—the lowest level since the 2022 bear market. While it has since ticked up to 20 as it sits currently, it remains firmly in “extreme fear” territory, reflecting the fragile confidence still lingering among traders. Bitcoin’s 3% jump in the past 24 hours offers a glimmer of hope, though, as the market begins to stabilize. Other major cryptocurrencies mostly posted gains, underscoring a broader shift in momentum.
Trump’s Crypto Summit Sparks Interest
A major catalyst for this upswing appears to be the White House’s announcement of a cryptocurrency summit set for March 7. President Trump will welcome a roster of heavy hitters, including founders, CEOs, and investors from the crypto world, alongside members of the President’s Working Group on Digital Assets. The event marks another chapter in the administration’s increasingly friendly stance toward digital assets.
This follows recent decisions by the U.S. Securities and Exchange Commission to drop lawsuits against industry giants like Coinbase and Consensys, the developer behind MetaMask, while also shelving investigations into platforms such as Robinhood, Gemini, Uniswap Labs, and OpenSea. These moves signal a thawing of regulatory tensions that have long cast a shadow over the sector.
While the market isn’t out of the woods yet, these developments suggest a turning point. Bitcoin’s climb above $84,400, paired with Trump’s summit and BlackRock’s calculated entry, paints a picture of a sector regaining its footing.