While Bitcoin remains significantly down on the weekly chart, the cryptocurrency has staged a modest recovery over the last 24 hours and is now trading above the 77,000 dollar level.
Most large cap altcoins continue to show limited movement, with only minor gains across the market. Ethereum has managed to stay above 2,100 dollars, while BNB continues trading above 640 dollars. Meanwhile, XRP has slipped back into negative territory.
Bitcoin Rebounds Above $77K
Bitcoin briefly climbed to 82,400 dollars on May 11, but the rally quickly lost momentum and turned into another failed breakout.
The following pullback, partly influenced by rising inflation concerns in the United States, pushed BTC below 79,000 dollars within days. Optimism surrounding developments tied to the CLARITY Act later helped fuel another rebound toward 82,000 dollars on Thursday.
However, bearish momentum returned shortly afterward. The market downturn accelerated last Friday, dragging Bitcoin below 80,000 dollars by Saturday before extending losses under 78,000 dollars on Monday. Selling pressure intensified further that afternoon, driving BTC down to a three week low near 76,000 dollars.
After losing roughly 6,000 dollars within a few days, Bitcoin eventually found support and rebounded toward 77,000 dollars. Although the recovery stalled temporarily yesterday, the asset has now reclaimed the level and is currently trading close to 77,500 dollars.
Bitcoin’s market capitalization has also recovered slightly, rising to approximately 1.55 trillion dollars. At the same time, its dominance over the broader altcoin market remains strong at more than 58 percent according to CoinGecko data.
Altcoins Remain Mostly Quiet as WV and XDC Surge
The broader altcoin market has shown little major movement among larger cryptocurrencies.
Ethereum continues defending its support above 2,100 dollars, while BNB remains near 645 dollars. XRP continues to lag behind with a small daily decline, similar to the price action seen in Dogecoin and Cardano.
Among privacy focused cryptocurrencies, Zcash posted one of the stronger gains with a 4 percent increase, while Monero advanced by around 3 percent.
Uniswap and WLFI also moved higher, whereas Stellar and Bitcoin Cash recorded declines of roughly 3 percent.
The biggest movers of the day were WV and XDC Network, which emerged as the only major double digit gainers. WV surged by approximately 20 percent to reach 17.3 dollars, while XDC climbed 12 percent to around 0.036 dollars.
Overall, the total cryptocurrency market capitalization recovered nearly 40 billion dollars over the past day and now stands at approximately 2.66 trillion dollars according to CoinGecko.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
