Bitcoin climbed 5% in the past 24 hours, reaching $88,000 following a volatile trading week. The recovery comes after the cryptocurrency bounced off $81,500 yesterday, gaining nearly $8,000 within hours.
The market's leading cryptocurrency experienced dramatic price swings last week. Bitcoin plummeted from over $96,000 to a multi-month low of $78,000 before stabilizing around $85,000 over the weekend.
Sunday brought renewed momentum when former President Trump made positive comments about the sector. Bitcoin surged $10,000 to $95,000 following his remarks. The rally proved short-lived as the price retreated Monday evening.
Bitcoin's market capitalization now approaches $1.75 trillion. This represents 58% of the total cryptocurrency market value.
Altcoins have outperformed Bitcoin in the latest recovery. Chainlink and Cardano led gains with both assets surging more than 16% in the past day. Chainlink now trades above $16 while Cardano approaches the $1 mark.
Ethereum and Ripple also posted significant gains exceeding 5%. Ethereum maintained its position above $2,200, while Ripple reached $2.5.
Other major cryptocurrencies in positive territory include BNB, Solana, Dogecoin, Tron, Avalanche, and Sui. Mid-cap assets showing strong performance include OM, Monero, Hedera, Hype, Bitcoin Cash, and especially Aave.
The overall cryptocurrency market capitalization recovered approximately $200 billion since yesterday. The total market value now stands at $3 trillion.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.