Bitcoin’s sharp decline over the weekend appears to have found support at $81,000, as the leading cryptocurrency rebounded by over $3,000 in the past 24 hours, reclaiming the $84,000 level. Meanwhile, altcoins have followed suit, posting significant gains and boosting the total crypto market cap by $70 billion in just a day.
Bitcoin Price Recovery: From Weekend Lows to Fresh Gains
Last week started on a bullish note for Bitcoin as it surged to a 17-day high of nearly $89,000. However, the momentum shifted midweek, leading to a sharp downturn on Friday, with BTC falling from $87,500 to $83,500 in hours. The decline continued over the weekend, bottoming out at $81,200 before buyers stepped in.
Now, Bitcoin has bounced back, reclaiming $84,000 and pushing its market cap to $1.67 trillion. Despite recent turbulence, BTC continues to dominate the market, holding over 59% dominance against altcoins.
Altcoins Join the Rally—Ethereum, XRP, and Memecoins Surge
The broader cryptocurrency market has reacted positively to Bitcoin’s rebound. Ethereum (ETH) leads the recovery with a 5% increase, nearing $1,900. XRP, one of the stronger altcoin performers, is up 5.5%, trading close to $2.20.
Other large-cap altcoins also saw significant gains:
- Dogecoin (DOGE) and Cardano (ADA) both posted notable upticks.
- Toncoin (TON), Chainlink (LINK), Sui (SUI), Shiba Inu (SHIB), Avalanche (AVAX), and Stellar (XLM) all turned green.
Some smaller-cap altcoins saw double-digit gains, leading the market charge:
- EOS soared 14%
- Sonic jumped 13%
- Render (RNDR) and Aave (AAVE) both climbed 10-11%
- BONK and PEPE, two popular memecoins, also gained 10%
With the market showing signs of stabilization, the total cryptocurrency market cap has surged to $2.83 trillion, signaling renewed confidence among traders.
What’s Next for Bitcoin and the Crypto Market?
Despite this short-term recovery, the crypto market remains highly volatile. Bitcoin’s ability to hold above $84,000 will be key to determining whether this rally has legs or if further corrections are on the horizon. Traders are now eyeing resistance at $86K and $89K, while support remains near $81K.
Will Bitcoin continue its recovery, or is this just a temporary relief rally? Share your thoughts below!
