Bitcoin’s price has stabilized over the weekend, with the asset hovering around $61,000. This comes after a tumultuous week that saw the primary cryptocurrency plummet to $49,500, its lowest position in six months. However, Bitcoin managed to stage a recovery and surged to almost $63,000 by Friday morning, reclaiming over $13,000 in value in less than a week.
While Bitcoin remains relatively stable, altcoins are making impressive gains. Binance Coin and Dogecoin have emerged as the top performers among the larger caps, with BNB surging over 4% and DOGE up by 5%. Additionally, ETH, SOL, XRP, ADA, AVAX, SHIB, and BCH are all showing slight gains. However, TON is among the few larger-cap alts in the red.
In the mid-cap cohort, Aptos and FET have outperformed with gains of 7% and 9%, respectively. These altcoins are contributing to the overall positive sentiment in the market. The total crypto market cap has increased by about $20 billion overnight, reaching $2.245 trillion on CG.
Overall, the cryptocurrency market is showing signs of resilience after a rocky few days. Bitcoin’s ability to bounce back from its recent lows has provided much-needed stability, while altcoins are leading the charge with impressive gains. It will be interesting to see how this trend continues in the coming days and whether Bitcoin can maintain its position above $61,000.