Bitcoin (BTC) has shown signs of recovery after experiencing a significant drop, trading under $90,000 during the day. This downturn triggered notable market volatility, but a surge in buying activity has propelled BTC back to $93,359, as per data from CoinMarketCap.
The market capitalization of Bitcoin has increased by 0.67% within the last 24 hours, bringing it to approximately $1.86 trillion. Despite this daily gain, Bitcoin”s value has decreased by 9.83% over the past week. The trading volume in the last 24 hours remains robust at $121.5 billion, indicating active market engagement.
Other cryptocurrencies have also experienced positive movements during this recovery phase. Ethereum (ETH) has risen to $3,146, marking a 1.31% increase in the last day. Meanwhile, Solana (SOL) has maintained its position above $140 with a notable gain of 3.82%. Major altcoins like XRP and BNB have also concluded the day on a positive note.
The recent fluctuations in the global markets have led to significant liquidations in derivative positions, totaling $791.6 million in the last 24 hours. This figure includes $632.74 million in long positions and $158.87 million in shorts. The breakdown of liquidations for various assets is as follows: $436.27 million for BTC, $156.81 million for ETH, $37.67 million for LEFT, and $18.51 million for ZEC.
Today, the crypto fear and greed index has dropped to 15, indicating a trend toward “Extreme Fear,” down from 17 yesterday. This sentiment often reflects investor caution in the current volatile environment.
