Bitcoin price rebounds from monthly lows, Ethereum returns to $2,000 levels

After a relatively calm weekend, digital currency markets returned noticeably volatile as the market opened on Monday, with Bitcoin prices falling to their lowest levels in a month before rebounding strongly.

In contrast, most of the larger altcoins by market cap are showing slightly positive performance on a daily basis, with Ethereum emerging as one of the top performers, surpassing the $2,050 level at the time of writing.

Bitcoin price fluctuations:

Bitcoin prices have risen strongly since last week, rising from $67,500 to nearly $72,000, following Donald Trump’s statement on progress in negotiations between the United States and Iran.

However, after Iran denied the statements, the currency subsequently fell to $69,000 before resuming gains on Wednesday, hitting a weekly peak of $72,000.

But this level represented strong resistance, causing the currency to fall sharply.

The losses peaked on Friday, when the price fell to $65,600, its lowest level in about four weeks.

Bitcoin’s price quickly climbed back above $66,000 before trading sideways between that level and $67,000 over the weekend.

Early in the session, the price fell again below $65,000, setting a new monthly low, before quickly rebounding to around $68,000, where it faced new headwinds amid recent geopolitical developments.

According to “CoinGecko” data, Bitcoin’s market capitalization has stabilized at around $1.35 trillion, dominating more than 56% of the alternative currency market.

Ethereum Price Crosses $2,000:

As far as alternative currencies go, Ethereum has benefited from these moves, rising around 3% in the past 24 hours to break above $2,050 levels after falling below $1,950 earlier in the day.

BNB, XRP, SOL, TRX, DOGE, ADA and other currencies also recorded slight gains, while HYPE fell by 4%. BCH continued to record a decline of about 6% after the recent sharp decline.

On the other hand, a number of other currencies have also posted notable gains, including ZEC, SHIB, UNI, NEAR, and SKY, while SIREN continues to perform strongly, gaining an additional 8% to approach the $1.80 level.

Overall, the total digital currency market capitalization has recovered around $40 billion since Sunday and is now above the $2.4 trillion level.

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