Crypto Market Rebounds as Bitcoin Leads Recovery and Altcoins Follow

TheNewsCryptoPublished on 2026-02-07Last updated on 2026-02-07

Abstract

The cryptocurrency market rebounded 5.57% in the last 24 hours, reaching a total market cap of $2.35 trillion, led by Bitcoin's recovery to near $70,000. Bitcoin, which accounts for 58.2% of the market, rose 4.74% and saw significant short liquidations. ETF inflows also indicated institutional support. Technical indicators suggest potential for further gains if momentum holds, though the market remains in an "extreme fear" zone. Major cryptocurrencies like Ethereum, XRP, and Solana followed with strong gains, and only three top-100 cryptos were in the red, signaling a broad recovery.

In the aftermath of a huge decline, the cryptocurrency market rose 5.57% in the last 24 hours, raising its entire market value to $2.35 trillion. Although the mood is still staying in the extreme fear zone, it sees cautious optimism, as the crypto Fear & Greed Index increased to 8 from its previous low of 5, and Bitcoin’s rebound to $70,000 from recent lows drove increases in the overall market.

The whole market’s upward trend is majorly driven by Bitcoin’s upswing, which contributes more than half, around 58.2%, to the overall crypto market cap. As it is currently trading at 67,978 with 4.74% high in the past 24 hours, before this, it had reached $71,605 earlier today. But, it is down by 19% over a week and 25% down over a month, which signals the broader downturn.

Bitcoin Gains Back Momentum

As per the Coinglass liquidation data, over the past 24 hours, Bitcoin short positions were liquidated for around $282 million, while longs were liquidated for $118 million, and the open interest has increased by around 2%.

Analysing the exchange-traded fund (ETF) flows, as per SoSoValue data, Bitcoin ETFs recorded $330.67 million in inflows as of February 6, which shows the positive momentum of the institutional side, even though the spot price declined yesterday.

With that, seeing the 4-hour chart, the Bitcoin Relative Strength Index is currently at 40, suggesting the asset is approaching oversold territory but not yet fully reached that zone. The Bitcoin’s MACD line remains above the signal line, indicating that bearish momentum may be easing. If it maintains the same momentum, it can attempt to retest resistance near $72,000 in the near term. But if it falls again, selling pressure can quickly reverse the recent gains.

Altcoins Follow Bitcoin’s Lead with Strong Gains

Followed by Bitcoin rise, Ethereum saw 6.85% up in the past 24 hours, trading at $2,016, then, XRP surged by 9%, and Solana is trading up with 7.05%. While other major cryptos like Cardano and Chainlink all of them rebound, as of writing.
According to CoinMarketCap, yesterday saw a large number of top losers, while gainers were few or none, but today, only three cryptocurrencies in the top 100 are recording losses, as of writing. While LEO led the top gainers with a 17.39% surge, followed by NIGHT and LIT tokens, this highlights the return of positive momentum among altcoins.

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Binance Adds BTC to SAFU Fund, Gets Praise from Founder CZ

TagsAltcoinBitcoinCrypto Market

Related Questions

QWhat was the overall percentage increase in the cryptocurrency market in the last 24 hours, and what is the new total market value?

AThe cryptocurrency market rose 5.57% in the last 24 hours, raising its entire market value to $2.35 trillion.

QWhat is the current reading of the crypto Fear & Greed Index, and what does it indicate about market sentiment?

AThe crypto Fear & Greed Index increased to 8 from its previous low of 5, indicating that while the mood is still in the extreme fear zone, there is cautious optimism.

QHow much did Bitcoin's price increase in the past 24 hours, and what is its current trading price?

ABitcoin's price increased by 4.74% in the past 24 hours, and it is currently trading at $67,978.

QAccording to Coinglass data, what was the total value of Bitcoin short positions liquidated in the past 24 hours?

AAccording to Coinglass liquidation data, Bitcoin short positions were liquidated for around $282 million in the past 24 hours.

QWhich three altcoins are mentioned as having significant gains following Bitcoin's lead, and what were their approximate increases?

AEthereum saw a 6.85% increase, XRP surged by 9%, and Solana was up 7.05% in the past 24 hours.

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363 Total ViewsPublished 2025.05.13Updated 2025.05.13

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