Bitcoin quickly recovered after briefly slipping below the $80,000 level, climbing back above the key price mark following the announcement by US President Donald Trump of a temporary ceasefire between Russia and Ukraine.
While Bitcoin stabilized, several alternative cryptocurrencies delivered much stronger performances, with Ondo and Jupiter emerging as the biggest standouts among the top 100 digital assets.
Bitcoin Recovers After Brief Pullback
Bitcoin’s rally at the end of April and the beginning of May started after the cryptocurrency dropped to around $75,000 following the latest Federal Reserve meeting, where interest rates were left unchanged.
Over the following week, Bitcoin gained nearly $8,000 and climbed to a three month high of approximately $82,800.
Despite the strong momentum, several analysts cautioned that the market environment remained fragile and warned that a correction could be approaching. Those concerns materialized on Thursday and Friday when Bitcoin lost nearly $4,000 from its recent peak and fell to about $79,100.
However, the decline proved short lived. The market rebounded rapidly after positive geopolitical developments emerged, including Trump’s announcement of a three day ceasefire agreement involving Russia and Ukraine.
Bitcoin’s total market value has now climbed back above $1.6 trillion, although its dominance over the broader cryptocurrency market has slightly declined to 58.1 percent.
Altcoins Deliver Stronger Momentum
Most major altcoins posted gains during the latest trading session. Ethereum moved back above the $2,300 level after a modest increase, while XRP and BNB continued competing for the fourth largest cryptocurrency by market capitalization. XRP edged ahead after rising around 3 percent on the day.
Other large cap cryptocurrencies also recorded notable gains. Solana, Cardano, Chainlink, and Cronos advanced between 5 and 8 percent. Meanwhile, Zcash surged roughly 10 percent and traded near $630.
Additional strong performers included Sui, Uniswap, and NEAR Protocol, all of which remained firmly in positive territory.
ONDO and JUP Lead Explosive Altcoin Rally
Some mid cap altcoins delivered even more dramatic gains. ONDO jumped approximately 25 percent, while JUP climbed around 24 percent. Other major movers included Internet Computer with a 20 percent rise, SIREN with a 19 percent increase, Filecoin with a 16 percent gain, Venice Token rising 15 percent, and Arbitrum advancing 13 percent.
The combined value of the entire cryptocurrency market increased by more than $40 billion since yesterday’s low, pushing the total market capitalization to approximately $2.78 trillion.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
