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Bitcoin is finally showing signs of recovery after several consecutive days of local lows, with the price falling as low as $62,500 before bouncing back above $65,000. The surge has provided some relief to investors after prolonged selling pressure over the past week.
The previous decline was driven by a combination of technical factors and macroeconomic uncertainties, including President Donald Trump's announcement of new global tariffs that sparked cautious sentiment in global financial markets. BTC initially held steady, but pressure increased when the futures market opened, indirectly causing a sharp drop in the short term.
After hitting a three-week low, buyers re-entered the market and pushed the price up by around $4,000. Bitcoin's market capitalization is now back above $1.3 trillion and market dominance has increased by over 56%, indicating that capital flows are still concentrated in the major asset compared to altcoins.
Among altcoins, Ethereum recovered to near $1,980 after touching $1,800, while XRP returned to key support at $1.36. SOL and XMR were the biggest gainers among large-cap altcoins, each up around 7%.
Overall, the total crypto market cap increased by around $80 billion to $2.33 trillion, but volatility remains high and market sentiment remains sensitive to near-term macro and geopolitical developments.
