Bitcoin has rebounded after a few days of making new local lows. It moved higher and nearly reached $66,500 earlier today, but price turned back before it could push through that level.
Most altcoins, which are cryptocurrencies other than Bitcoin, are also up today. Ethereum is close to $1,900. XRP has recovered to around $1.36. Among the bigger coins, Solana (SOL) and Monero (XMR) have shown the biggest gains.
BTC Bounces to $65K
Earlier in the week, Bitcoin tried to reclaim the $70,000 level but could not stay above it. The price then moved lower and reached about $66,000 by Wednesday. In the following days, it recovered and moved above $68,000 over the weekend.
More uncertain news came from macro (big-picture) factors, including talk of tariffs and taxes. This brought some worry to traders. At first, Bitcoin held steady, but when the futures markets opened Sunday night, the price fell quickly. In about an hour, it dropped to below $64,500.
After a short bounce, selling pressure returned on Tuesday. Bitcoin slid to a new three-week low near $62,500. Then buyers stepped in and pushed the price up by roughly $4,000. It ended up above $65,000, about 3% higher for the day.
The total value of all Bitcoin in existence, called its market capitalization or market cap, rose back above $1.3 trillion. Bitcoin’s share of the total crypto market, known as its dominance, rose to more than 56%.
The price information comes from TradingView.
Alts Try to Rebound
Many other coins also fell in the last few days. Ethereum dipped to around $1,800, but has climbed back to about $1,900. XRP is back at an important support level near $1.36. Binance Coin (BNB) is near $600. Other coins such as TRX, DOGE, BCH, ADA, and HYPE are also higher today.
Among the larger coins, SOL and XMR have the biggest gains. SOL is around $82 after a 7% rise. XMR is above $335.
Smaller tokens also moved up. KITE joined the top 100 by gaining about 20% in a day. MORPHO followed, and LEO and WLFI are close behind.
The overall crypto market cap, which is the total value of all digital currencies, rose by about $80 billion today. It is now around $2.33 trillion, according to CoinGecko (CG).
Source: CryptoPotato.
Definitions
Bitcoin is the first decentralized cryptocurrency. It uses a public ledger called the blockchain to record transactions. It was created in 2009 by an unknown person or group using the name Satoshi Nakamoto. Learn more on Wikipedia.
Ethereum is a blockchain that supports smart contracts. Its native currency is Ether (ETH). It lets people build apps and decentralized finance (DeFi). It moved from proof-of-work to proof-of-stake in an upgrade called The Merge. Learn more.
XRP Ledger (also called the Ripple Protocol) is a platform that uses the native cryptocurrency XRP. It supports tokens and other units of value. It relies on a fast consensus method for settling transactions. Learn more.
Solana is a public blockchain that uses a proof-of-stake consensus mechanism and supports smart contracts. Its native cryptocurrency is SOL. Learn more.
Monero is a cryptocurrency focused on privacy. It aims to be private, untraceable, fungible, and decentralized. Learn more.
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