Cryptocurrency Market Recovery: Bitcoin Rebounds to $105K as Institutional Players Accumulate $350M

Digital asset markets demonstrated resilience on Wednesday as major cryptocurrencies staged a recovery following Tuesday’s downturn. Bitcoin (BTC) climbed 1% to $105,000, while Ethereum (ETH) held steady at $3,550. Binance Coin (BNB) maintained its position at $978, though Solana (SOL) experienced a 2% decline to $159. Notable gainers included CC (+30%), SKY (+15%), DCR (+13%), and ASTER (+10%), signaling renewed investor confidence across select altcoins. The MET token from Meteora surged 35% following developments surrounding Uniswap’s fee mechanism. Market analysts observed significant accumulation by Ethereum whales, with approximately $350 million in purchases during the recent price dip, suggesting institutional participation in the market recovery. In corporate developments, Circle confirmed it is assessing the potential integration of an $ARC token within its stablecoin ecosystem. Meanwhile, Fortune reported that Coinbase has withdrawn from its proposed $2 billion acquisition of stablecoin provider BVNK. The financial services sector continues embracing digital assets, with SoFi launching cryptocurrency trading services for BTC, ETH, SOL, and other major tokens. JPMorgan expanded its blockchain offerings by deploying JPM Coin (JPMD) on Base network, marking a significant advancement in institutional-grade digital asset solutions.