The price of Bitcoin increased on Thursday, continuing its recovery after a decline earlier in the week. The rise was supported by asset buybacks during the dip, positive dynamics in the US stock market, and mass liquidation of short positions.

Bitcoin rose by 5.3% — to $68,349, recovering a significant portion of recent losses. The price increase caught traders betting on a decline in the cryptocurrency off guard: in the last 24 hours, nearly $469 million in short positions were liquidated.

The market was supported by two days of confident growth on Wall Street, which improved investors' appetite for risk. The US technology sector received a boost after strong earnings from NVIDIA, whose products remain in high demand due to advancements in artificial intelligence technology. The cryptocurrency market traditionally follows the dynamics of American tech companies.

Despite the current growth, investor sentiment regarding the crypto market remains cautious. The 'fear and greed' index is still in the 'extreme fear' zone, reflecting concerns about a possible new decline in prices. Bitcoin also remains significantly below its historical highs.

The rise of Bitcoin has supported other cryptocurrencies. Ethereum increased by 9.4% to $2062, XRP by 6.4% to $1.44. Solana and Cardano grew by 7.3% and 11.1%, respectively, while BNB added 5.6%. Among meme tokens, Dogecoin rose by 8.3%, and the TRUMP token by 3.5%.

At the same time, experts note that most altcoins, like Bitcoin, still remain significantly below the levels of recent months, and the market as a whole retains high volatility.