The cryptocurrency market staged a massive recovery yesterday after starting the day very slow and even declining considerably. However, the buyers stepped in and pushed Bitcoin above $67K, while many altcoins are charting impressive returns.
Bitcoin Pokes Above $67K
Bitcoin’s price is up around 5% on the day, staging an impressive recovery after having declined to $63K earlier in yesterday’s morning trading session.
It was able to chart a local daily high at $67,400 on Bitstamp but has since then declined to where it currently trades at $66,600. This is still an impressive performance, and the bulls might be consolidating now in preparation for a new rally toward the $70K level.
Source: TradingView
When zoomed out on an hourly view, the price looks to have returned on an uptrend, and it is interesting to see if it will take Bitcoin to $70K, which seems to be the next important level.
Altcoins in a Sea of Green
It’s not just Bitcoin that’s charting impressive gains—it’s the entire market. As seen in the heatmap below, all of the large-cap altcoins are up considerably.
Source: Quantify Crypto
Some of the more notable performers include DOGE, which managed to chart an increase of around 7.3%, SOL – up almost 6%, AVAX – up 5.4%, NEAR – up more than 6%, and so forth.
SEI and ORDI are today’s top performers, up 18.5% and 16.4%, respectively. POPCAT and BONK are the memecoins that did best, up 16% and 13.2%.
It’s interesting to note that all of the top 100 cryptocurrencies by means of total capitalization are in the green, showcasing the strength of the market in the past 24 hours.
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