Bitcoin and major altcoins reverse decline as Wall Street rebounds

Bitcoin and major altcoins have witnessed a downturn amid signs of recovery in the US stock market. Currently, Bitcoin has dropped below $96,000 but later recovered, ending the trading day in the green. Over the past weekend, US stock indices such as the Dow Jones and S&P 500 reported growth with futures contracts increasing by 211 points and 0.5% respectively. This recovery is mainly attributed to positive results from economic data and potential policies that could be implemented by the expected Treasury Secretary, Scott Bessent, appointed by President Donald Trump.

Bitcoin's recovery is not sustainable, as the price has fallen more than 3% from the all-time high (ATH) of $99,645 on November 22. Other altcoins also recorded declines of 6-10%, with major projects like Polkadot (DOT), Ethereum (ETH), and XRP reverting to a downward trend after some investors took profits. On the other hand, The Sandbox (SAND) had a positive performance, surging more than 60% in just the past 24 hours, while many other cryptocurrencies plummeted.