Bitcoin’s remarkable recovery from a significant price drop has continued over the last 24 hours, as it earlier reached $116,000 before making a slight reversal to $115,000. In addition, many altcoins have seen even larger surges over this timeframe. Ethereum, for instance, reached $2,400, while Binance Coin achieved a new all-time record.

BTC Recovery Endures

The recent turmoil at the end of the previous business week led to a significant market drop when BTC’s value fell to nearly $110,000, following US President Donald Trump’s trade tariff threats. The massive liquidation event marked BTC’s steepest decline ever recorded in USD value. However, Bitcoin’s value began to recover almost immediately, allowing it to rise back towards $110,000 by Sunday, ultimately reaching $116,000 earlier on Monday but has stabilized around $115,000.

BTC’s market cap was observed to dip below $2.3 trillion, and its dominance has decreased to 57.1% over altcoins.

Over the past day, altcoins have notably outperformed Bitcoin, which has led to a decrease in Bitcoin’s market dominance. Binance Coin achieved a new high of $1,370 merely days after the tumultuous market activities, while Ethereum saw a daily rise exceeding 9%, presently exceeding $4,150.

Major Altcoin Performance

Other cryptocurrencies like XRP have surged to $2.6, and DOGE increased by 11%. Noteworthy gains in double digits have been recorded for ADA, LINK, HYPE, SUI, HBAR, and CRO from larger-cap cryptocurrencies. In particular, COAI, TAO, and MNT have experienced even more impressive growth, each rising by over 20% daily.

Overall, the total crypto market cap has rebounded to $4 trillion, recovering from a drop to $3.3 trillion during the market crash.

BTCUSD

BTCUSD. Source: TradingView