BlockBeats News, February 22 — Data shows that the cryptocurrency market has nearly recovered the gains made since the rally that began around the 2024 U.S. presidential election.

Total3 (Market Cap excluding Bitcoin and Ethereum) increased by more than 91% after the results of the November 5, 2024 election were announced, rising from approximately $6 trillion to $11.6 trillion in December 2024.

Subsequently, the market declined back to around $9 trillion and fluctuated within this range, and on January 18, 2025 (Two days before the U.S. presidential inauguration), it temporarily rebounded to $11.3 trillion. In October 2025, Total3 reached a new high of about $11.9 trillion, but then sharply declined, breaking the upward trend. Currently, Total3 is around $713 billion, down about 40% from its October 2025 peak, close to the mid-November 2024 level, and the market still shows no clear signs of a sustained recovery.

Regarding major assets, Bitcoin has fallen over 50% from its peak, dropping to around $60,000, and has since recovered to about $68,000; Ethereum, from its historic high of nearly $5,000 in August 2025, has decreased by about 60%. The sentiment index is also at a low. The Fear & Greed Index from CMC reports a score of 14, in the "extreme fear" zone, and on February 5, it dropped to 5, the lowest recorded so far.