During the weekend, the price of Bitcoin benefited from relative calm as the currency retested the 70,000 dollar level after failing to hold above this level on Saturday morning.
The current rise came after a tough day where the currency witnessed a violent drop, but the market calmed down relatively, allowing for a gradual rebound.
The price of Bitcoin experienced significant fluctuations at the end of last week, then the decline accelerated on Thursday, reaching a sharp sell-off that pushed it from 77,000 to 60,000 dollars on Friday morning, the lowest level for the currency in over a year.
It quickly bounced back to 72,000 before dropping again to 68,000, and has now returned above 70,000 with a daily increase of about 2.3%.
Its market cap has also regained the level of $1.4 trillion, while the currency's dominance in the market remains near 57% according to “CoinGecko”.
In terms of alternative cryptocurrencies, the price of Ethereum has partially recovered after falling from $2400 to $1730 during the crash, now trading above $2100.
The BNB coin has also made progress, surpassing XRP in market cap ranking (again) and reclaiming the fourth position over the weekend.
Solana has risen to nearly $90, while cryptocurrencies like LTC, LINK, ZEC, and XLM have gained about 4%.
In contrast, HYPE was one of the few cryptocurrencies that dropped by about 5% to below $32.
Finally, the total market cap of crypto has added about $80 billion since yesterday, approaching $2.5 trillion.
