Bitcoin has rebounded from its worst month in three years, rising more than 3% in the last 24 hours to trade above $84,400, according to CoinDesk reports. The surge comes ahead of a planned crypto summit hosted by US President Donald Trump on March 7, which will include prominent founders, CEOs, and investors.
The event is part of the Trump administration’s pro-crypto policies, following recent drops in lawsuits against major exchanges and asset managers adding bitcoin to their portfolios. BlackRock, the world’s largest asset manager, has added a 1% to 2% allocation of its iShares Bitcoin Trust (IBIT) to one of its model portfolios.
The rebound in bitcoin prices follows a decline that saw the Crypto Fear & Greed Index plummet to 10, before recovering to 20. The broader CoinDesk 20 Index rose 1.5% in the same period.
While some components of the index were down, bitcoin’s price surge is seen as a positive sign for the cryptocurrency market. The planned crypto summit may have provided a boost, but it remains to be seen how the event will impact prices.
Source: https://www.coindesk.com/markets/2025/03/01/crypto-prices-show-signs-of-recovery-with-bitcoin-above-usd84k-amid-trump-s-summit-plans