Bitcoin's price is on the rise again as the crypto market continues to recover from recent declines.
Bitcoin's Rapid Rebound
On March 10, the crypto market witnessed a drastic decline alongside large sell-offs in the U.S. stock market. During the trading session, Bitcoin dropped to $77k but quickly recovered to $80k the next day. Bitcoin is now trading at approximately $83,400 as investors show renewed trust while eyeing the $84,000 mark.
Altcoins' Situation
ETH has failed to match BTC's gains over the past few days and is striving to hold the $1,900 level amid selling pressure. It has decreased by over 17.5% in the past week and dropped more than 55% since the highs in January. Similarly, XRP and SOL have marked monthly lows and continue to experience heavy sell-off after breaking below key support levels.
Current Trends and Metrics
Amidst these shifts, the global crypto market cap today sits at $2.7 trillion with a 24-hour trading volume of $96.03 billion. Noteworthy movements include a 16% gain of PEPE, while IP, Sonic, TIA, and XLM have risen by nearly 8%. Meanwhile, cryptocurrencies like TAO, MOVE, and HYPE have shown a 3% decline in the past 24 hours. BCH, PPEP, HYPE, KAITO, and LAYER are among today's trending cryptocurrencies.
Bitcoin continues to rise confidently, seeking to surpass new psychological levels, while altcoins face challenging market trends. The overall volume of the crypto market remains high, highlighting ongoing attention to this sector.
