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Bitcoin surged nearly 5% to $68,655, triggering over $400 million in short liquidations and reigniting bullish market momentum.
Cardano jumped 11.96% to $0.2983 amid sustained whale accumulation. Meanwhile Polkadot led altcoin gains with a sharp 30% rally.
Regulatory and macro headlines like the US Senate probe into Binance and stablecoin growth, continue shaping overall crypto investor sentiment.
Crypto prices today on February 26 are on an uptrend with a market-wide recovery. Bitcoin has rebounded to the $68,000 levels after briefly touching $70,000 in the early trading hours. Altcoins have followed suit, with Ethereum, Solana, Dogecoin, and Cardano up over 8%. Cardano has reclaimed the tenth position in the world’s top ten coins by market cap, after days of struggling at eleventh. The coin has pushed Bitcoin Cash back to the eleventh spot.
The market is carrying forward the upward momentum it gained yesterday. A wave of buying has pushed the total market cap up 4.86% to $2.37 trillion. US President Donald Trump’s address to Congress has uplifted investor sentiments, stabilising the markets. Traders who were betting on lower crypto prices today got caught off guard. It led to a massive exit of short positions that added more fuel to this intraday rally.
Here’s what happened in the market today based on CoinMarketCap data.
Bitcoin gained nearly 5% in the last 24 hours to $68,655. The bounce has been sharp enough to force out a massive wave of short sellers. Over $400 million in short positions were wiped out in a single day. Bitcoin alone accounted for roughly $200 million of those forced exits. That kind of short squeeze adds fuel to a rally, as traders scramble to cover their positions and end up buying. Thus, pushing prices even higher.
CoinSwitch Markets Desk noted, “Bitcoin is trading around $68,000, reclaiming ground after recent volatility and gains in risk assets, while support near $65,000 and resistance around $70,000-$72,000 remain key technical levels. On-chain flows show mixed BTC exchange activity, with some inflows suggesting short-term selling but outflows also indicating ongoing accumulation interest (exchange flow data trending sideways). The broader crypto rally has mirrored strength in US stocks, especially tech, as equities rebounded, lifting risk appetite and helping Bitcoin recover.”
Cardano (ADA) is one of the day's bigger gainers. It is up nearly 12% to $0.2983. ADA had fallen as low as $0.24 earlier in February, but whale buying throughout the downturn appears to be paying off. Large holders picked up over 819 million ADA in the past six months despite prices falling more than 71%. If Bitcoin pushes toward $70,000 and holds, ADA could make a run at $0.31 first, and then potentially $0.50 if volume confirms the move. Key support to watch sits at $0.27-$0.28.
Polkadot (DOT), on the other hand, has caught investors' eyes today. The coin is up 30% to $1.62, though it's pulled back slightly after failing to hold $1.64 as support.
Here is how the world’s top ten coins performed today.
Nischal Shetty, Founder WazirX, talked about today’s crypto price movements. Shetty noted, “Global markets are currently reacting to three major macro signals; the new 10% US global tariffs, Bank of England commentary, and Japan’s policy direction. A 10% tariff increases business costs and inflation risk, making central bank rate cuts less predictable, and markets dislike unpredictability. The Bank of England has indicated that rate decisions remain data-dependent, keeping liquidity expectations fluid. Meanwhile, Japanese yen declined after Prime Minister Sanae Takaichi appointed dovish economists to key Bank of Japan policy board positions.”
Founder WazirX further elaborated, “On the positive side, Tether investing $200 million in Whop is a strong adoption signal. Stablecoins are becoming a real financial infrastructure. Integrating USDT into a marketplace with 18M users shows crypto payments are moving beyond speculation into everyday utility.”
Here are the top headlines impacting crypto prices today.
Circle, the company behind USDC, reported $770 million in Q4 2025 revenue, up 77% from a year ago. USDC in circulation rose 72% to $75.3 billion, and on-chain transaction volume jumped 247%. This kind of growth shows stablecoins are becoming a bigger part of everyday crypto use. It could bring more users and liquidity into the market over time.
Michael Saylor's Strategy, which holds 717,722 Bitcoin, now has 14% of its market cap sold short. Thus, making it the most shorted large-cap stock in America. With Bitcoin still far below its $120,000 peak, hedge funds are betting the company's leveraged BTC model is under stress. If Bitcoin prices stall, this pressure on Strategy could weigh on broader sentiment.
Senator Richard Blumenthal has launched a formal Senate inquiry into Binance. He alleged that the exchange processed nearly $1.7 billion tied to Iranian entities and Russia's sanctions-evasion networks. Binance denies wrongdoing and says it has cut sanctions exposure by over 96% since 2024. Regulatory heat on the world's largest exchange is rarely good for short-term market confidence. The probe's outcome could influence how exchanges handle compliance globally.
Crypto liquidity provider BlockFills froze client withdrawals after suffering $75 million in losses. Its CEO has also stepped down. The firm serves institutional clients, including hedge funds and asset managers. Events like this can shake confidence in institutional crypto infrastructure, though the impact on prices today appears limited so far.
Dutch finance minister said he plans to amend a law that would have taxed unrealised crypto gains at 36%. This means investors would owe taxes even on paper gains they hadn't cashed out. The minister admitted ‘something simply went wrong’ with the law. Walking this back is a small positive signal for European crypto investors. It removes a policy that would have been unusually punishing by global standards.
Also Read: US Spot Bitcoin ETFs Inflows Rebound as Q4 Filings Show Institutional Selling
Crypto prices today reflect renewed short-term confidence. The big question now is whether this bounce has staying power or if it’s just a temporary breather in a longer downtrend. Bitcoin still needs to reclaim $70,000 to shift the bigger trend.
Avinash Shekhar, Co-founder, and CEO, Pi42 noted, “For investors, this is a time to stay measured rather than reactive. Instead of chasing sharp moves, a staggered allocation strategy with a medium to long term perspective is more prudent in the current environment. Maintaining diversification and focusing on fundamentally strong assets can help investors navigate near term fluctuations while staying aligned with the broader structural growth of the crypto market.”
The heavy accumulation by Cardano whales suggests that seasoned players are starting to see value at these levels. However, the ongoing Senate inquiry into Binance and the stress on institutional providers like BlockFills keep the risk high. Macro stability and sustained inflows will be key to whether this bounce holds or fades.
Also Read: Bitcoin News Today: BTC Rebounds Toward $66,000 as Gold Divergence Signals Possible Upside
1. Why is the crypto market up today?
The crypto market is up today due to strong buying momentum and a large short squeeze. Bitcoin’s sharp move toward $69,000 triggered over $400 million in short liquidations, forcing traders to buy back positions. This pushed prices higher across the board. The total market cap rose 4.86% to $2.37 trillion, reflecting renewed investor confidence and improving global risk sentiment.
2. What is the latest Bitcoin news?
The latest news around Bitcoin is its rebound to $68,655 after briefly touching near $70,000. The rally wiped out roughly $200 million in Bitcoin short positions alone. Analysts are now watching the $70,000-$72,000 resistance zone closely. A sustained move above that level could shift the broader trend, while $65,000 remains a key support level.
3. Why is Cardano up today?
Cardano is up nearly 12% today, trading at $0.2983. The rally is supported by strong whale accumulation over the past six months, with large holders buying more than 819 million ADA during the downturn. As Bitcoin recovered, investor appetite for altcoins increased. Improved technical signals, including stronger momentum indicators, also helped fuel today’s move.
4. What is the US Senate Binance probe about?
The US Senate probe into Binance was initiated by Richard Blumenthal. The inquiry alleges that the exchange may have processed nearly $1.7 billion in transactions linked to Iranian entities and potential sanctions evasion networks. Binance has denied wrongdoing and claims it significantly reduced sanctions exposure since 2024. The investigation focuses on compliance, anti-money laundering controls, and regulatory oversight.
5. What is XRP price today?
XRP is trading at $1.46 today, up 6.46% in the last 24 hours. The token’s market cap stands at approximately $89.1 billion. XRP has shown relative strength compared to some other large-cap altcoins during recent volatility. Today’s gains reflect broader market momentum and renewed investor participation in major cryptocurrencies.
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