Bitcoin’s recent decline below $60,000 has been concerning for investors, but the asset has managed to bounce back and is currently trading around $61,500. The altcoins have also shown signs of recovery, with top gainers including DOGE, SHIB, and LINK.
Bitcoin’s decline began on Sunday when it dropped from $66,000 to $63,000. It experienced further drops throughout the week, reaching a three-week low below $60,000. However, the bulls stepped in to defend this level, resulting in a rebound of over $1,500.
The altcoins, which followed Bitcoin’s downward trend, have now started to recover. Ethereum (ETH) is approaching $2,400, while Binance Coin (BNB) has reached $550. Other altcoins, such as Solana, Ripple, Tron, and Bitcoin Cash, have also seen similar gains.
Impressive price jumps have been observed in Dogecoin, Shiba Inu, Chainlink, Cardano, Avalanche, and others. Aptos (APT) has particularly stood out, surging by 10% in just one day to nearly $9. Other notable gainers include BEAM (9.5%) and AAVE (9.5%).
The total cryptocurrency market capitalization has increased by approximately $40 billion in the past day, reaching $2.240 trillion. Bitcoin’s dominance over the altcoins has slightly decreased and currently stands at 54.4% on CG. As the market continues to fluctuate, investors will closely monitor Bitcoin’s movements and the performance of altcoins.