Crypto Market Crash Today : 28th FEB – XRP News Why is Bitcoin Dropping? , Pi Network Price

Stock market today faces rising volatility, with four consecutive days of spikes in the Volatility Index ($VIX) above 20. Warren Buffett, in his annual report, acknowledged the difficulty in finding bargains in a historically strong market. With mixed tariff headlines and bearish investor sentiment at its lowest since 2022, the market is edging toward “RISK-OFF” mode. Rising volatility seems to be the new normal, with more capital moving to the sidelines.

The SEC held a closed-door meeting on February 27, 2025, raising speculation it could drop its appeal in the Ripple case. The lawsuit, claiming XRP was sold as an unregistered security, has drawn attention as the SEC recently dropped several high-profile cases. If the SEC dismisses the appeal, XRP’s price could surge, with analysts predicting a potential rally to $3.20 following Ripple’s previous legal victories.

Binance has completed a community vote that may lead to the listing of Pi Coin (PI) on the platform. With 86% of the 294,957 participants voting in favor, this marks a significant move toward integrating Pi Network’s native cryptocurrency into Binance’s offerings. However, Binance clarified that the vote results are for reference only, and the decision will be subject to further evaluation. Pi Coin, which has grown to over 60 million members, saw a 20.8% price drop following its ATH but has still outperformed the broader crypto market. The Pi Network community is also looking forward to Pi Day on March 14, 2025, which could bring further excitement and developments for the coin.

After recent corrections, the market appears to have found a solid demand zone, potentially setting up for a bounce. Bitcoin ($BTC) could reach $97K-$100K, Ethereum ($ETH) may hit $3K, and altcoins could experience a 10%-30% rally. This bounce may be triggered not only by technical factors but also by NVIDIA’s record-breaking earnings and the upcoming US PCE Price Index data. Investors are watching closely as the Fed evaluates its policies based on this data, which could influence market movements further.

Bitcoin’s spot volume surged around the $100K mark, but during distribution phases, prices tend to drop when new liquidity dries up. The key question now is where fresh liquidity will come from to sustain a bullish trend. With limited new liquidity entering the market, an extended consolidation within a wide range ($75K-$100K) seems likely, similar to early 2024. This range-bound movement could persist until favorable news for Bitcoin triggers new liquidity inflows.

Bitcoin (BTC) fell below its 200-day simple moving average (SMA) on Friday, marking a 16% weekly loss and briefly dipping below $80,000 for the first time since November 10. The decline was fueled by renewed concerns over U.S. tariffs, which boosted demand for the U.S. dollar. Altcoin like XRP, Solana (SOL), and DOGE saw even steeper losses, with XRP dropping below the 23.6% Fibonacci retracement level. President Trump’s announcement of tariffs on Canada, Mexico, and China further fueled the rise in the dollar, pushing the dollar index to 107.30.