After a significant price drop that saw it hit a weekly low below $64,000, Bitcoin has recovered most of its losses and is now trading above $67,000.
The overall cryptocurrency market capitalization also regained its recent losses as many altcoins turned green on a daily basis.
BTC rose above $67 thousand
After crashing to $63,000 last Friday, the leading cryptocurrency began a massive recovery over the weekend, pushing it to $66,000. More volatility followed when President Joe Biden announced his withdrawal from the 2024 presidential race.
BTC initially fell by $2,000, but on Sunday and especially on Monday it began to recover, reaching a 6-week peak of $68,400.
However, in the following days it failed to maintain momentum and began to lose traction. This led to the price falling to a 6-day low of $63,500 yesterday amid a market-wide correction.
However, the bulls intercepted the move and did not allow any further decline. On the contrary, the asset began to rise in price and reached $67,000 this morning. Its market cap soared above $1.320 trillion, and its dominance over alts increased to 52.7% on CG.
These altos are in the green
Most altcoins followed BTC on its way south, including ETH, which was among the worst performers after the launch of Ethereum spot ETFs in the States. However, ETH, like the rest of the market, is up today. The second-largest digital asset has gained 3% in value and is trading above $3,250.
BNB, SOL, DOGE, TON, AVAX, SHIB, DOT, and LINK saw similar gains, while XRP, NEAR, and LEO saw minor losses. The biggest daily gainers included AAVE, ORDI, STX, and BRETT, as they all jumped by double digits.
The total capitalization of the cryptocurrency market has almost recovered all of yesterday’s losses and once again exceeded $2.5 trillion.
