Bitcoin Price Recovery
Bitcoin has shown a notable recovery, gaining over 3.5% since the start of active trading in the US on Thursday, bringing its price to $67,900. This increase marks a rebound to levels seen earlier in the week, but analysts caution that it is premature to declare a definitive recovery.
Market Overview
The total cryptocurrency market capitalization has risen by 1.3% over the past 24 hours, reaching $2.33 trillion, recovering from local lows of $2.27 trillion. The market is currently experiencing a narrowing range of fluctuations, characterized by a series of rising local lows, while the last two local highs have stabilized around $2.40 trillion.
Bearish Pennant Formation
A bearish pennant pattern is forming on Bitcoin's daily candlestick chart. This pattern will be confirmed if the price drops below $65,700, while a rise above $70,000 would invalidate the bearish outlook. The current price movement appears to be part of a prolonged consolidation phase within the $60,000 to $70,000 range, which is historically significant.
Altcoin Performance
Among altcoins, Trump Coin has surged nearly 10% in the last 24 hours, while Solana has also performed well with a 3.4% increase. Conversely, Dash and Toncoin have seen declines of 3.4% and 1.5%, respectively, indicating a mixed performance across the altcoin market.
Ethereum Development Updates
Ethereum developers have unveiled an updated development plan for 2026, focusing on scaling, enhancing user experience, and securing the blockchain. The next major network update, Glamsterdam, is scheduled for the first half of 2026, followed by another update named Hegota.
CME Cryptocurrency Futures Trading
The Chicago Mercantile Exchange (CME) plans to launch round-the-clock trading for cryptocurrency futures and options starting May 29, pending regulatory review. This move is expected to enhance trading opportunities in the crypto market.
Aptos Foundation Tokenomics Reform
The Aptos Foundation has announced significant reforms to its tokenomics aimed at strengthening the deflationary aspects of the Aptos (APT) cryptocurrency. Key initiatives include introducing a cap on emissions at 2.1 billion APT, a notable change from the current unlimited supply.
Mining Difficulty Surge
On February 19, Bitcoin mining difficulty experienced a record increase of 14.73%, the highest in five years, bringing the difficulty level to 144.40 trillion. This surge follows a period where miners in the United States significantly increased their operational capacity after previously reducing it due to adverse weather conditions.