After a few consecutive days of charting new local lows to $62,500, bitcoin’s price has finally rebounded, and the asset even neared $66,500 earlier today, where it was stopped.
Most altcoins are in the green as well today, with ETH nearing $1,900, and XRP reclaiming the $1.36 support. SOL and XMR have surged the most from the larger caps.
BTC Bounces to $65K
Bitcoin was violently rejected on both occasions at the beginning of the previous business week to reclaim the $70,000 level, and the subsequent corrections pushed it south to $66,000 by Wednesday. It rebounded in the following days and went above $68,000 during the weekend.
However, more macro uncertainty ensued after the latest tariff developments, including another global taxation of 10% to 15% from Trump. BTC remained still at first, but nosedived on Sunday evening/Monday morning when the futures markets opened. In just over an hour, the cryptocurrency plummeted to under $64,500.
After a dead-cat bounce, the bears were back in control on Tuesday and initiated another leg down – this time, bitcoin slumped to a new three-week low of $62,500. The bulls finally woke up at this point and drove the asset north by roughly $4,000. It was stopped there and now sits above $65,000, but it’s still 3% up on the day.
Its market cap has reclaimed the $1.3 trillion level, while its dominance over the alts has climbed above 56%.
Alts Try to Rebound
Most altcoins were hit hard over the past few days as well. Ethereum dipped to $1,800, but now stands $100 higher at $1,900. XRP is back at a crucial support at $1.36, while BNB has neared $600. TRX, DOGE, BCH, ADA, and HYPE are also in the green daily.
SOL and XMR have surged the most from the larger caps. 7% gains have pushed the former to $82, while the latter is above $335.
KITE has entered the top 100 alts with a massive 20% daily surge. MORPHO follows suit, while LEO and WLFI are next.
The total crypto market cap has recovered around $80 billion daily and is up to $2.330 trillion on CG.
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