Cryptocurrencies Rebound to a 2.4 Trillion Dollar Market Cap... Is Bitcoin Nearing the 75,000 Dollar Mark?
Cryptocurrencies Rebound to a 2.4 Trillion Dollar Market Cap... Is Bitcoin Nearing the 75,000 Dollar Mark?
Bitcoin (BTC) has rebounded sharply, breaking back above the $70,000 level in just one day after bottoming near $60,000, leading a broad recovery across the digital asset market.
Over the past 24 hours, the cryptocurrency market has surged 7.51%, pushing total market capitalization to approximately $2.41 trillion. A key driver has been Bitcoin’s rapid recovery after falling to around $60,000, its lowest level in about 16 months, with the leading cryptocurrency now exerting strong influence as it commands a market dominance of 58.71%.
This rebound is not limited to the crypto market alone but aligns with broader trends in traditional financial markets. The S&P 500 index and gold prices have risen simultaneously, fueling a relief rally across multiple asset classes. As Bitcoin, which had entered oversold territory with the Fear and Greed Index dropping to an extreme fear level of 8, began a technical rebound, market optimism has started to resurface among investors.
Signs of large-scale accumulation by whale investors and major exchanges have further strengthened the rally. Analysts note that for Bitcoin to sustain its upward momentum, it needs to firmly hold the $70,000 level as support. The upcoming release of U.S. Consumer Price Index (CPI) data scheduled for February 12 is expected to be the next key variable shaping the direction of the crypto market.
Bitcoin has climbed 9.08% over the past 24 hours to trade at $70,722, while spot Bitcoin ETFs recorded net inflows of $330.7 million in a single day on February 6. If Bitcoin successfully establishes $70,000 as a strong support level, the next target is expected to be $75,000. However, some caution that failure to defend $70,000 could lead to a pullback toward the $65,000 range.
Strong recovery signals are also emerging in the altcoin market. Ethereum (ETH) gained 8% after securing support at the $2,000 level, while XRP surged 15% to rank among the top performers. Solana (SOL) is trading at $88 after rising 10%, and other major coins such as Cardano (ADA), Dogecoin (DOGE), and Bitcoin Cash (BCH) have also rebounded, reinforcing the market’s positive outlook.
*Disclaimer: This article is for investment reference only, and no responsibility is taken for any investment losses incurred based on this content. The information should be interpreted solely for informational purposes.*
<저작권자 ⓒ 코인리더스 무단전재 및 재배포 금지>
|
  많이 본 기사
English 많이 본 기사
|
