Bitcoin and Altcoins Rebound Slightly

Bitcoin and Altcoins Retraces Slightly from Market Crash

While the crypto market has traded downward over the past week, it has shown signs of recovery, as Bitcoin retraces to $57,000 after falling below $55,000 on Sunday.

With the market still on a bearish trajectory, the global market capitalization is sitting at $2.11 trillion, a decrease of 0.05% over the past day. However, the total crypto market volume has surged significantly by 54.09%, to $83.61 billion.

The market’s massive downtrend can be traced to multiple factors, including the plunge in the volume of Bitcoin ETFs, the German Bitcoin sell-offs, and other broader economic circumstances. However, the total market volume surge indicates a significant increase in trading activities with heightened selling pressures from bearish traders.

Altcoins Surge Higher than Bitcoin

Data from CoinMarketCap shows a decent recovery by the broad crypto market from its recent crash. Bitcoin has retraced slightly by 0.68%, trading at around $57,188 as of press time. During the last day, the cryptocurrency plunged as low as $54,450 and traded at a peak of $57,879.

Nonetheless, top altcoins like ETH, BNB, and SOL have recovered better, with intraday gains of over 2%. Ethereum has increased to $3039, a decent price surge of 2.22% over the last 24 hours.

`crypto prices

Furthermore, BNB and SOL recorded higher gains, increasing by 3.15% and 2.55%, respectively, within the same period. As of press time, BNB is trading at $514, and SOL is trading at $140.

While Bitcoin still dominates the market with 53.5% of the total market capitalization for all cryptocurrencies, crypto users are left in awe of what the future holds for Bitcoin after the unexpected crash.

BONK Gains 16% Amid Bearish Market Momentum

Bonk has defied the bearish trend that has overwhelmed top cryptocurrencies and the broad crypto market, recording notable gains of over 16%.

Bonk's price

Emerging as the leading gainer of the day, Bonk is trading at $0.00002508, an increase of 16.21% over the past day.

Although Bonk has decreased by 47.32% from its all-time high of $0.00004704 since March 4, 2024, it has traded bullishly over the past week, increasing over 6%.

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