The cryptocurrency market is rebounding after experiencing its worst month in three years, with Bitcoin (BTC) dropping to $78,000, causing the total market capitalization to fall by over $400 billion. The Crypto Fear & Greed Index hit a low of 10, unseen since the 2022 bear market, but has since risen to 20, still indicating ‘extreme fear.’ Over the past 24 hours, Bitcoin’s price increased by more than 3%, trading above $84,400, while the CoinDesk 20 Index (CD20) rose 1.5% to 2,700. SOL dipped nearly 3%, but other components showed gains. The market received a boost following the White House’s announcement that U.S. President Donald Trump will host a crypto summit on March 7, featuring prominent industry figures. This aligns with the Trump administration’s pro-crypto stance, following the SEC dropping lawsuits against Coinbase and Consensys, among others. Additionally, BlackRock has allocated 1% to 2% of its iShares Bitcoin Trust (IBIT) to one of its model portfolios, marking the first time it has included IBIT, potentially driving new demand for bitcoin ETFs. — news from CoinDesk
