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Digital currency Solana’s daily gain of 8% coincided with Bitcoin’s recovery and return to $65,000 levels, after briefly falling to an all-time bottom of $62,500 in the past few hours.
Bitcoin failed to regain $70,000 levels early last week, leading to a downward correction to $66,000, before the currency rose above $68,000 over the weekend.
However, economic uncertainty has re-emerged against the backdrop of developments related to tariffs and the imposition of additional global taxes of between 10% and 15%, weighing on the market.
As the futures market opened, the price of the coin quickly fell below $64,500 in about an hour.
Although the rebound was limited, sellers regained control and pushed the price to a three-week low of $62,500.
Later, buyers stepped in and raised the price by about $4,000. The current price of Bitcoin is stable at more than $65,000, with a daily increase of about 3%.
Bitcoin’s market value has also returned to $1.3 trillion, and its dominance relative to other digital currencies has risen to more than 56%.
In turn, altcoins are showing signs of recovery. Ethereum price rose from $1,800 to around $1,900, XRP returned to test the key support level of $1.36, and BNB approached $600.
TRX, DOGE, BCH, ADA and HYPE also recorded daily gains.
Solana and Monero (XMR) topped the list of major currency gainers, with Solana rising to $82 after gaining 7%, while Monero broke above $335 levels.
KITE also entered the list of the 100 largest coins by market capitalization after rising 20% daily, followed by MORPHO, LEO and WLFI also recorded significant growth.
Overall, the digital currency market capitalization rose by approximately $80 billion in one day to approximately $2.33 trillion, indicating that the market is trying to catch its breath after a recent wave of volatility.
Also read:
What resistance and support does HYPE digital currency face?
Bitcoin enters a stage of psychological torture: is the crash scenario still valid?
