Bitcoin’s continuous price slump finally came to a halt after the asset plunged to $78,000, and it has managed to recover about seven grand since then.
The altcoins are also well in the green today, with substantial gains from almost all of them.
BTC Rebounds $7K
It was a violent week, to say the least, for bitcoin and the entire crypto market. The primary digital asset challenged $100,000 the previous Friday but was quickly rejected after the hack against Bybit. The weekend was calmer, but the business week turned sour once again.
By Tuesday, bitcoin had lost over ten grand since the weekend and more than $13,000 since Friday in a price slump to $86,000. After a minor dead-cat bounce to $89,000, the bears returned with another leg down that drove BTC to $82,000 on Thursday.
The most painful decline came on Friday morning as the cryptocurrency plunged below $80,000 and all the way down to $78,200 (on Bitstamp), which became the newest three-month low and made February 2025 the worst in over a decade.
Many industry experts warned that the worst is yet to come and that BTC could drop to $70,000 over the weekend. However, that hasn’t been the case so far. Just the opposite, BTC stands close to $85,000 after regaining $7,000 since yesterday’s low.
Its market capitalization remains below $1.7 trillion, while its dominance over the alts is close to 58% on CG.
Alts in Recovery Mode
The alternative coins went through some massive crashes within the same timeframe but are well in the green on a daily scale now. Ethereum is above $2,200 after a 5% increase since yesterday, while BNB has neared $600 following a 4% surge.
Ripple’s native token defended the $2 level and is up to $2.17 now after gaining 8%. More impressive price increases come from SOL (10%), DOGE (9.5%), ADA (7.5%), SUI (9%), and XLM (15%).
HBAR, APT, BCH, ONDO, and TRUMP have also charted notable double-digit price gains since yesterday.
The total crypto market cap has recovered roughly $200 billion and is up to $2.9 trillion on CG.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Source link
Jordan Lyanchev
https://cryptopotato.com/bitcoin-recovers-7k-following-dump-below-80k-ripple-gains-8-weekend-watch/
2025-03-01 08:13:52
