[Analysis] "Bitcoin and Ethereum experience worst February in history... possibility of continued weakness"
Suehyeon Lee
Summary
- Bitcoin and Ethereum fell by 17.39% and 31.95% respectively last month, marking their worst February in history.
- SpotOnChain indicated that February's weakness could potentially continue into March.
- While Bitcoin and Ethereum are currently showing an upward trend, caution is needed regarding the possibility of continued long-term weakness.
Bitcoin (BTC) and Ethereum (ETH) experienced their worst February in history last month, raising concerns that weakness may continue into March.
On the 1st (local time), SpotOnChain stated via X, "Bitcoin fell 17.39% last month, marking its worst February in 10 years, while Ethereum also showed record weakness, plummeting 31.95% during February," adding that "historically, February weakness tends to continue into March."
Meanwhile, Bitcoin and Ethereum are showing a temporary pause in their downward trend. Currently, Bitcoin is trading at $85,783.95 on CoinMarketCap, up 7.76% from the previous day, while Ethereum is at $2,258.54, up 7.22% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
