Tensions in the Middle East have intensified since the weekend, especially after the United States got involved. Because of this, there’s a lot of uncertainty among investors as some remain cautious of the volatility of the market. Still, despite the global pressure, the crypto market is showing signs of a strong recovery.
After several days of red charts and falling prices, major cryptocurrencies are bouncing back. Most coins are now trading in the green, and the overall market looks more stable.
Bitcoin Recovers from Below $105k, ETH, DOGE, XRP Surge 10% Today
Bitcoin (BTC) price displayed great bullish momentum over the past 24 hours. At the time of writing, Bitcoin is up 4% over the period; it has gone from an intraday low of $105,539 to now trading for $105,679. This is an incredible reversal considering the fact that it dropped below $100k over the weekend. Over the same time, it recorded a trading volume of $65 billion, which is a 16.53% increase, with a 3,52 in market cap of $2.1 trillion.
On the 1-hour chart via TradingView, we can see a massive push to the upside right after the price broke structure and tested a demand zone at $99,492. Right now, the price is consolidating sideways at a supply zone, waiting to find liquidity for another push. Moreover, the Relative Strength Index (RSI) is at 61, which means the bulls are in control and there’s still room for price to buy.
Ethereum price had an even better day than Bitcoin, with a notable 10% surge in price in the past 24 hours, and jumped to $2,478 from a daily low of $2,197. This was all thanks to a 19% surge in its trading volume to a number of $25.8 billion and an 11% jump in market cap. This bounce back started halfway over the last 7 days after the price dropped massively from $2,557 to $2,131.
XRP and Dogecoin (DOGE) also joined in the rally.. Both cryptocurrencies are up 10% today. XRP is trading for $2.20, up 12% from a daily low of $1.96, with an impressive 25% surge in its trading volume and 12% increase in market cap to $130.15 billion recorded today alone.
Dogecoin DOGE surged by 10.43% over the same period as the rest. Also with a notable 11% increase in trading volume to $1.4 billion and an 8.8% 9n marketcap.
Trending Cryptos Today
- Bitcoin (BTC)
- Ethereum (ETH)
- Sei (SEI)
- Ripple (XRP)
- Solana (SOL)
Top Gainers & Losers Today
| Gainers | Losers |
| Sei (SEI): +41.52% | Tether Gold (XAUt): -2.08% |
| SPX6900 (SPX): +33.63% | PAX Gold (PAXG): -1.99% |
| Aptos (APT): +30.73% | |
| Maple Finance (SYRUP): +27.90 |
Crypto Market Cap Overview
Right now, the whole cryptocurrency market is up, printing green. According to data from CoinMarketCap, the overall market capitalization is set at $3.2 trillion. This is a 5.67% surge. Trading activity has been moderate, reaching $146 billion in trading volume.
However, a lot of traders took losses amid this market comeback. According to CoinGlass, a massive $406.43 million worth of positions were liquidated in the past 24 hours. 116,810 traders got liquidated. The biggest hit came to short traders, who lost $338.75 million, while long traders lost $67.69 million.
Also Read: SEI Price Soars 40% Today, Will it Surge to $0.37 Next?
