Bitcoin’s price has been on a rollercoaster ride recently, with a market-wide crash last week resulting in a significant drop from over $66,000 to a low of $49,500. However, the asset has started to recover, jumping back up to $53,000 and climbing to over $57,000 within a few days. The latest surge has seen Bitcoin soar past $60,000 and nearing $63,000 for the first time since the weekend.
While Bitcoin’s recovery is impressive, Ethereum has been leading the pack with a notable 10% surge. After being among the poorest performers during the recent crash, Ethereum has bounced back nicely, adding more than 10% in value in the past 24 hours alone. The cryptocurrency now trades well above $2,600, showing significant strength in the market.
Apart from Ethereum, other altcoins have also turned green once again. DOGE, SHIB, and AVAX are notable gainers from the larger-cap altcoins, showcasing the overall positive sentiment in the market. XRP, on the other hand, has retraced slightly after a massive surge following a legal battle against the SEC. Despite this, most larger- and mid-cap altcoins are in the green, which has contributed to the total market cap rising to $2.234 trillion on CG.
Overall, the cryptocurrency market seems to be regaining strength after the recent crash. Bitcoin’s price recovery and surge past $60,000 indicate renewed investor confidence, while Ethereum’s strong performance highlights the potential for altcoins to make a comeback. With the total market cap on the rise and most alts in the green, the crypto market is showing signs of resilience and growth. Investors will be closely watching for further developments and price movements in the coming days.