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Crypto Potato 2025-01-14 09:49:46

Bitcoin Recovers $7K Following Sub-$90K Price Crash (Market Watch)

Bitcoin’s volatile rollercoaster continued in the past 24 hours as the asset plunged below $90,000 for the first time in months but has jumped by over seven grand since then. The altcoins are also in recovery mode, with ETH reclaiming $3,200, while DOGE has jumped by over 7% daily. BTC Bounces Off The primary cryptocurrency was in a freefall state since last Tuesday, when it peaked above $102,000. Its inability to sustain that level resulted in immediate retracements that pushed it south hard. Within 48 hours alone, it had lost over ten grand, but that was just the start. After a minor recovery last Friday and during the weekend, bitcoin headed straight south on Monday. This time, the bears were even more persistent, pushing BTC down to under $91,000 for the first time since late November and later to below $90,000. In fact, that crash took bitcoin down to a multi-month low of $89,200 (on Bitstamp). At this point, the bulls finally reminded of their presence and didn’t allow another breakdown that could have driven BTC to under $85,000. The cryptocurrency started to recover some ground rather rapidly and jumped to $95,000 earlier today. The bulls kept the pressure on and drove the asset to just under $97,000 as of now. Its market cap has risen to over $1.910 trillion on CG, while its dominance over the alts stands just shy of 55%. BTCUSD. Source: TradingView Alts Turn Green The altcoins suffered even more during the past several days, but green now dominates the charts. Ethereum was among the poorest performers, dumping to under $3,000 yesterday for the first time in over two months. Now, though, the second-largest cryptocurrency stands close to $3,250. Even more impressive daily gains come from XRP, SOL, DOGE, ADA, SUI, LINK, HBAR, APT, and AAVE. The case with AAVE is particularly impressive as it has risen by over 11%. The cumulative market capitalization of all crypto assets has recovered $200 billion in a day and is up to $3.5 trillion on CG. Cryptocurrency Market Overview. Source: QuantifyCrypto The post Bitcoin Recovers $7K Following Sub-$90K Price Crash (Market Watch) appeared first on CryptoPotato .