Bitcoin’s price has continued to recover from last Friday’s sell-off, rising from below $60,000 and pushing toward $63,000 in the past 24 hours.
Major large-cap altcoins have largely followed Bitcoin’s move, recording notable daily gains. Ether has climbed toward $1,650, while XRP has rebounded past $1.10 and $1.15.
Will BTC Test $63K?
We have covered the broad market downturn that unfolded during the previous business week, with Friday’s collapse proving particularly severe. Bitcoin entered the sell-off at roughly $73,000 before the decline accelerated. The asset lost value steadily, slipping below $70,000 and then falling to about $65,000 by midweek.
An early attempt to rebound to around $67,000 proved short-lived, and the situation deteriorated further later in the week. On Friday, bears pushed BTC below $60,000 for the first time since late 2024, a level not seen even during the early February sell-off.
One mitigating factor for Bitcoin is that the rout also impacted Wall Street and gold, and was exacerbated by a surprisingly strong U.S. jobs report. After reaching that multi-month low, Bitcoin staged a prompt recovery, moving back above $60,000 and briefly touching $61,000 yesterday. As of now, the price has climbed close to $63,000.
Bitcoin’s market capitalization has risen above $1.25 trillion on CoinGecko, with its market dominance over altcoins holding above 56%.
XRP and Altcoins See Rebound
On the daily charts, many altcoins show positive action after being hit hard during the market-wide drop. Ether fell to about $1,500 at its weakest but has recovered toward $1,650, posting roughly a 4% daily gain. BNB is approaching $600, while XRP has climbed back above key support levels at $1.10 and $1.15 after dipping to $1.05 on Friday.
Other tokens such as SOL, TRX, DOGE, RAIN, and XLMR are up as much as 4%, and ZEC has continued a post-FUD recovery with an approximately 8% surge to $400. LINK, CC, SUI, SHIB, TAO, UNI, and WLD are also trading higher. Several lower-cap altcoins are seeing double-digit gains, including LAB, H, BEAT, SIREN, and M.
Overall, the total cryptocurrency market capitalization has regained roughly $150 billion since Friday’s low, reaching about $2.24 trillion on CoinGecko.