On the market: Bitcoin begins to recover and maintains its price above the level of $60,000
The cryptocurrency market witnessed notable fluctuations during the past 24 hours, with the total market value reaching approximately $2.36 trillion, which is approximately the same level recorded the previous day.
In the last 24 hours, the price of Bitcoin has been subjected to significant fluctuations, and this fluctuation in the price of Bitcoin has accompanied most alternative digital currencies.
We have witnessed multiple price movements during the recent period.
Bitcoin recovers above $60,000:
Bitcoin bears were striving to push the price below the $60,000 level yesterday, and they succeeded for a short time.
The price fell to about $58,400, a level not seen since early May.
But Bitcoin price found strong support at this level and rebounded, currently trading at around $60,800.
It remains interesting to see whether the selling pressure has ended or whether there are more challenges ahead.
Performance of alternative digital currencies:
The majority of altcoins are in a phase of recovery, with most of them trading in the green and some achieving slight gains compared to yesterday's prices.
The price of Solana cryptocurrency rose by nearly 9% on the day, and the bulls are trying to push the price further higher.
Among the best-performing cryptocurrencies was Chainlink (LINK), which rose by nearly 7% over the past 24 hours, followed by TON, which recorded a rise of 6%.
In the meme category, things are looking generally positive.
This category of cryptocurrencies rose by 3.5%, and some of these cryptocurrencies recorded significant increases.
The price of PEPE rose by almost 10%, WIF by 15.7% and FLOKI by 10.1% showing a noticeable recovery in the market.
Overall, the question remains whether the worst of the downturn is over or whether the market faces more volatility in the coming days.
According to the famous Fear and Greed Index, which measures emotions and feelings from a variety of sources, the market is currently in a state of fear.
This may indicate a temporary bottom, but it also reflects the uncertainty prevailing at the moment.
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