Polkadot surges 33%, NEAR jumps 21% as Bitcoin rebounds to $68K and altcoin season signals strengthen.
The crypto market staged a sharp recovery on February 26, with total market capitalization climbing 4.4% to $2.35 trillion as oversold altcoins posted double-digit gains.
Bitcoin climbed 5.48% over 24 hours to $68,434, recovering sharply from a weekly low near $63,000. The bounce came after BTC recorded its worst-ever start to a year, falling 23% through the first 50 days of 2026.
Altcoins led the charge higher. Polkadot (DOT) surged 33.7% to $1.66, making it the day's top performer. NEAR Protocol jumped 21.8% to $1.18 on $303.7 million in trading volume. Uniswap (UNI) and Aptos (APT) each gained over 11%, part of a broad recovery across major tokens.
The Altcoin Season Index rose to 45, its highest level since January, signaling growing capital rotation from Bitcoin into alternative assets.
This rebound follows weeks of intense selling pressure driven by overlapping macro headwinds: Trump's 15% global tariff announcement, record liquidations topping $2.56 billion in a single weekend, and Bitcoin ETFs turning net sellers for the first time.
Bitcoin dominance broke below a key support level, a technical signal that typically precedes sustained altcoin outperformance. The speed of the recovery, with several tokens gaining 20-30% in a single session, suggests traders are positioning for a potential shift in market leadership.
The $68,000 level now acts as a critical test for Bitcoin. A sustained hold above this zone could confirm the recovery and accelerate altcoin flows. Traders should monitor the Altcoin Season Index for a push above 50, which would formally signal the start of an altcoin season. Upcoming tariff decisions and ETF flow data in early March will likely determine whether this bounce holds or fades.
After one of the most brutal sell-offs in recent memory, the crypto market is showing early signs of stabilization. Whether this marks the start of a sustained recovery or a temporary relief rally remains to be seen as macro uncertainty persists.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
All 12 U.S. spot Bitcoin ETFs saw positive inflows on March 2, totaling $458M as BTC rebounds from February lows.
Disclaimer: News content is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly. Always conduct your own research.
