Today, the crypto market has rebounded sharply, recovering from yesterday’s significant losses. Bitcoin has surged over $6,000 in the past 18 hours, and many altcoins have seen even more substantial gains, boosting the total market cap by over $200 billion since yesterday’s low.
Bitcoin’s Rebound
Bitcoin has experienced a turbulent few days. After hitting $70,000 last Monday, BTC faced a sharp decline starting Friday, dropping from $66,000 to $62,200 due to a weak US jobs report and controversial actions by Japan’s central bank. The weekend saw further losses, with Bitcoin falling to $57,000 by Sunday.
On Monday, Bitcoin fell below $50,000 for the first time since mid-February, resulting in over $1.2 billion in liquidations and fears of a drop to $40,000. However, bullish activity helped BTC recover to $56,000, up 10% on the day. Its market cap has climbed back to $1.1 trillion, although its dominance has slightly decreased to 53.2%.
Altcoins See Significant Gains
Altcoins, which tend to be more volatile, suffered heavily during the market crash but have recovered more robustly today. Leading the recovery is Solana (SOL), with a 24% increase to $142. Shiba Inu (SHIB) has also surged, reaching $0.000014. Other major altcoins with notable gains include Ethereum (ETH) up 13%, Binance Coin (BNB) up 17%, XRP up 15%, Dogecoin (DOGE) up 17%, and Cardano (ADA) up 16%.
Market Cap Rebounds
The total market cap of all crypto assets has increased by over $200 billion since yesterday’s low, now standing at $2.070 trillion. This recovery indicates renewed investor confidence following one of the most severe market crashes in recent years.
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