Crypto Market Crash Today : 28th FEB | Airdrop Alert Pro

The Arizona Senate passed the Strategic Digital Asset Reserves Act (SB 1373) on February 27 with a 17-12 vote, bringing it closer to becoming law. The bill creates a strategic reserve fund for digital assets managed by the state’s finance director, which includes cryptocurrencies for state seizures and grant funds. Meanwhile, another bill, the Strategic Bitcoin Reserves Act (SB 1025), also passed the Senate, focusing on investing in public funds in cryptocurrencies. Now, Arizona is leading the U.S. state crypto investment bill competition with Utah.

Bitcoin’s price is currently testing the weekly MA50 $74.8K, a level worth watching. After the merger in September 2024, Bitcoin touched the MA50 and rebounded. If the Bulls are able to hold this support again, it could trigger a strong rebound and potentially push Bitcoin to create new all-time highs (ATH). Investors are closely monitoring this critical technology level to signal the momentum.

Today’s stock market is facing a rise in volatility, peaking in the volatility index over 20 years ($vix). Warren Buffett admitted in his annual report that it is difficult to find bargains in the historic market. Since 2022, the market’s lowest tariff headlines and bearish investors’ sentiment is getting higher and higher, and the market is moving towards a “risk-taking” model. The rise in volatility seems to be the new regular rate, with more capital moving off the market.

The SEC held a closed-door meeting on February 27, 2025, and raised speculation that it could withdraw its appeal in the Ripple case. The lawsuit claims XRP was sold as unregistered security, which has attracted attention as the SEC recently dropped several high-profile cases. If the SEC dismisses the appeal, the price of XRP could rise, and analysts predict a $3.20 rally after Ripple’s previous legal victory.

Binance completed a community vote, which could lead to the listing of Pi Coin (PI) on the platform. Of the 294,957 participants, 86% voted, marking a major move to integrate PI Network’s native cryptocurrency into Binance’s products. However, Binance clarified that the vote results are for reference only and the decision will be further evaluated. Pi Coin has grown to over 60 million members, with its ATH price dropping 20.8% after it, but still outperforming the broader cryptocurrency market. The PI Network Community is also looking forward to PI Day on March 14, 2025, which can bring further excitement and development to the coin.

After recent corrections, the market appears to have discovered a solid demand zone that is likely to rebound. Bitcoin ($btc) could hit $97,000, Ethereum ($eth) could hit $3K, and Altcoins could experience 10%-30% of the rally. This rebound may not only be triggered by technical factors, but also by NVIDIA’s record revenue and upcoming U.S. PCE price index data. Investors are paying close attention when the Fed evaluates its policies based on these data, which could further impact market movements.

Bitcoin’s spot volume surged by $100,000, but during the distribution phase, prices tend to drop when new liquidity rises. The key question now is where fresh liquidity will come from to maintain the bullish trend. With limited new liquidity entering the market, it seems that the expanded merger over a wide range ($75K-$100k) seems to be similar to early 2024. This movement of range-combination may continue until favorable news from Bitcoin triggers new liquidity inflows.

Bitcoin (BTC) was below its 200-day simple moving average (SMA) on Friday, marking a weekly loss of 16%, falling below $80,000 for the first time since November 10. New concerns about U.S. tariffs have exacerbated the decline, which has increased demand for the dollar. AltCoin like XRP, Solana (Sol) and Doge sees a steeper loss, with XRP dropping below the FibonAcci back-bottom level of 23.6%. President Trump announced tariffs on Canada, Mexico and China further pushed the dollar upward, pushing the dollar index to 107.30.