 ▲ Bitcoin (BTC), BNB, and XRP / ChatGPT-generated image |
As Bitcoin (BTC) recovers the psychologically significant resistance level of $70,000, Binance Coin (BNB) has overtaken Ripple to reclaim fourth place by market capitalization, signaling a potential shake-up in the cryptocurrency market over the weekend.
According to cryptocurrency-focused media outlet CryptoPotato on February 8 (local time), digital asset analyst Jordan Lyanchev said, “Bitcoin put its sharp midweek decline behind it and at one point reclaimed the $70,000 level, demonstrating strong resilience.” Lyanchev noted, citing Santiment analysis, that Bitcoin’s Relative Strength Index (RSI) had fallen to its third-lowest level on record, entering an oversold zone that drew bargain-hunting from retail investors.
The most notable feature of this weekend’s market is the reshuffling among major cryptocurrencies. BNB has maintained a solid upward trend, pushing XRP aside to take fourth place overall by market capitalization. XRP had surged as much as 18% on February 6, but as Bitcoin failed to firmly settle above $70,000 and gave back part of its gains, BNB established a stable advantage and widened the gap.
Major altcoins such as Ethereum (ETH) and Solana (SOL) are also participating in Bitcoin’s rebound, driving a recovery in weekend trading. Ethereum, in particular, is holding the $2,500 level, signaling accumulation by institutional investors, while Solana is accelerating its recovery as network activity increases. As total market open interest rises gradually, investor participation in trading is becoming more active again.
The battle for rankings among top market-cap cryptocurrencies is expected to intensify further. With the market-cap gap between BNB and XRP narrowing, trading volume over the coming days is likely to be the key variable in solidifying the rankings. News of additional Bitcoin accumulation by major institutions such as MicroStrategy, combined with improved liquidity, could heighten volatility in weekday trading after the weekend.
The digital asset market is now being tested on whether it can shift into a full-fledged trend reversal beyond a simple price rebound. If Bitcoin successfully establishes a foothold at $70,000 and BNB cements its position in fourth place, the market may attempt to re-enter a bullish phase once again. Investors are closely watching changes in open interest and inflows and outflows at major exchanges as they prepare for next week’s trading.
*Disclaimer: This article is for investment reference purposes only, and no responsibility is taken for any investment losses based on it. The content should be interpreted solely for informational purposes.*