Bitcoin Price Update

Bitcoin’s continuous price slump finally came to a halt after plunging to $78,000, managing to recover about $7,000 since then.

The altcoins are also well in the green today, with substantial gains from almost all of them.

BTC Rebounds $7K

It was a violent week for Bitcoin and the entire crypto market. The primary digital asset challenged $100,000 the previous Friday but was quickly rejected after the hack against Bybit. The weekend was calmer, but the business week turned sour once again.

By Tuesday, Bitcoin had lost over $10,000 since the weekend and more than $13,000 since Friday, plunging to $86,000. After a minor dead-cat bounce to $89,000, the bears returned, driving BTC to $82,000 on Thursday.

The most painful decline came on Friday morning as the cryptocurrency plunged below $80,000 to $78,200 (on Bitstamp), marking a new three-month low and making February 2025 the worst in over a decade.

Many industry experts warned that the worst is yet to come, predicting BTC could drop to $70,000 over the weekend. However, that hasn’t happened; on the contrary, BTC stands close to $85,000 after regaining $7,000 since yesterday’s low.

Its market capitalization remains below $1.7 trillion, while its dominance over the altcoins is close to 58% on CoinGecko.

Alts in Recovery Mode

The alternative coins also faced significant crashes within the same timeframe but are now returning well. Ethereum is above $2,200 after a 5% increase, while BNB has neared $600 with a 4% surge.

Ripple’s native token defended the $2 level, climbing to $2.17 after an 8% gain. Impressive price increases include SOL (10%), DOGE (9.5%), ADA (7.5%), SUI (9%), and XLM (15%).

HBAR, APT, BCH, ONDO, and TRUMP have also charted notable double-digit price gains since yesterday.

The total crypto market cap has recovered roughly $200 billion, rising to $2.9 trillion on CoinGecko.