: details
Bitcoin continues to try to recover after the massive drop and is testing the $59K level, bouncing back to trade at $62,500 at the time of writing.
The same goes for altcoins, where most have recorded positive gains with varying degrees.
Bitcoin bounce:
Bitcoin has gone through one of its toughest trading periods lately, starting the week near $73K before facing relentless sell pressure that pushed the price below $70K and then down to around $65K.
Despite the bounce attempts that briefly pushed the coinโs price to $67,000, market pressures continued to dominate, causing the coin to drop back below $60,000 for the first time since late 2024.
However, after hitting this bottom, Bitcoin managed to quickly reclaim part of its losses, rising above $60,000 and then continuing its climb towards $63,000 in the last hours.
The market cap for the currency has risen to over $1.25 trillion, maintaining a dominance of over 56% of the total crypto market.
On the flip side, altcoins have seen a noticeable bounce after the heavy losses they endured during the recent downturn.
Ethereum's price jumped about 4% in 24 hours, nearing the $1,650 mark after it had dropped to around $1,500.
XRP successfully regained key support levels at $1.10 and $1.15, after dipping to $1.05 during the peak of selling on Friday.
Coins like BNB, SOL, TRX, and DOGE are showing positive percentages, while ZEC continues its strong recovery with an increase exceeding 8%.
The current recovery wave has contributed around $150 billion to the overall market cap of cryptocurrencies compared to the lows the market hit on Friday.
Thus, the crypto market cap has risen to around $2.24 trillion, with investors keeping an eye on whether these gains signify a sustainable recovery or just a temporary bounce after a harsh sell-off.
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