Crypto Market Recovers: BTC Hits $87K, ETH & XRP Surge in Price

Crypto Prices Surge (March 5): Bitcoin Reaches $87K, ETH, SOL, and XRP Reverse Losses

The cryptocurrency market staged a comeback on Wednesday, overcoming recent bearish pressure that stemmed from newly announced U.S. tariffs on Canada, Mexico, and China. Bitcoin (BTC) recorded an intraday gain of over 4%, climbing back to the $87K level. Other major cryptocurrencies, including Ethereum (ETH), XRP, and Solana (SOL), rose between 4% and 7%, fueling investor confidence after the previous market downturn.

Crypto Market Turns Green: BTC, ETH, XRP, and SOL Recover

The total market capitalization of the crypto industry climbed 4.5% in the past 24 hours, reaching $2.89 trillion. Meanwhile, liquidation levels eased significantly, declining to under $500 million from yesterday’s peak of $1 billion, according to Coinglass. Investors have largely factored in Donald Trump’s recent trade tariff announcements, which had initially triggered concerns over a potential global economic slowdown.

Bitcoin Rebounds to $87K

Bitcoin’s price surged by almost 4% in a day, reaching $87,400. The digital asset fluctuated between an intraday low of $81,529.24 and a peak of $88,911.27. Notably, the price jump aligned with Japanese firm Metaplanet’s recent acquisition of 497 BTC, valued at $43.9 million, increasing market optimism.

Ethereum Climbs 4%

Ethereum saw a 4% increase in value, trading at $2,159. The asset’s intraday low and high stood at $1,996.77 and $2,220.36, respectively. A report by Crypto Rover highlighted that former U.S. President Donald Trump currently holds over $500 million worth of ETH, fueling speculation about the potential role of crypto in future economic strategies.

XRP Surges 7%

XRP’s price increased by nearly 7%, trading at $2.44. The digital asset’s lowest and highest prices for the day were $2.29 and $2.52. This surge was supported by significant whale accumulation, with large investors purchasing 1 billion XRP tokens amid the market dip.

Solana Reaches $142

Solana followed the broader market trend, rising 5% to $142. The asset fluctuated between $131.57 and $146.40 over the last 24 hours.

Meme Coins in the Green

Dogecoin (DOGE) increased by 4%, reaching $0.1995, while Shiba Inu (SHIB) recorded a 3% gain to trade at $0.00001293. Pepe Coin (PEPE) edged up by around 1% to $0.000006945.

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