On Sunday, the total cryptocurrency market cap surged back above $4 trillion, witnessing notable recoveries in major currencies such as Ether (ETH), BNB, and Dogecoin (DOGE), which all recorded impressive double-digit increases in value after a market fall on Friday that resulted in nearly $500 billion being erased from the crypto landscape.
The three prominent coins experienced gains of 10.5%, 13.6%, and 12.5% over a single day. Other cryptocurrencies, including Solana (SOL), Cardano (ADA), and Chainlink (LINK), also reported rises exceeding 10%, according to CoinGecko.
Synthetix (SNX) saw a shocking rise of over 100%, surpassing its pre-crash levels and reaching a new high for 2025. Additionally, several smaller-market coins such as Mantle (MNT) and Bittensor (TAO) recorded increases above 30%.
The previous market downturn, which saw Bitcoin drop from approximately $121,560 to under $103,000, was instigated by U.S. President Donald Trump announcing a 100% tariff on China in a bid to implement export restrictions on rare earth minerals essential for computer chip manufacturing.
Further complications arose when Binance briefly displayed $0 prices for several altcoins, alongside the USDe synthetic dollar losing its peg on Binance due to an internal oracle malfunction.
The resurgence in the crypto market appeared coincidental with Trump’s statement advising against concerns over China, affirming that the intention is to assist rather than harm.
Despite prices not fully recovering from Friday’s incident, there’s renewed optimism regarding Bitcoin’s potential surge towards $200,000 before the close of 2025.
Market analyst Mister Crypto remarked that Bitcoin is undergoing a golden cross retest — an encouraging technical pattern historically associated with substantial rallies, such as a 2,200% rise in 2017 and a 1,190% increase in 2020.
“The setup looks incredibly strong,” he stated, emphasizing that a confirmed breakout could significantly elevate Bitcoin’s value in the weeks ahead.
Crypto trader Alex Becker noted a “very high chance” that this marks the initiation of a bull market, with Jan3 founder Samson Mow echoing sentiments, asserting: “It’s time for Bitcoin’s next leg up.”
Another analyst known as “Mac” opined on social media that despite a favorable risk-to-reward ratio, he does not foresee a major leap soon, suggesting that a slight upward movement may take place within the week.
As of now, Bitcoin is trading around $115,585, down 4.9% from the onset of the dip and approximately 8.8% lower than its previous peak of $126,080 established last Monday, as per CoinGecko.
BitMine Takes Advantage of the Market Dip
BitMine Immersion Technologies, the leading corporate Ether treasury firm, quickly acquired over 128,700 ETH valued at $480 million shortly after the market fell, as reported by crypto analytics platform Lookonchain.
BitMine’s executive chairman, Tom Lee, expressed that the stock market correction was “overdue to an extent” given a rally of around 36% since the lows seen in April.
“I believe it’s a good flush,” Lee remarked to CNBC, adding that any fall in price without a real structural shift is a “good buying opportunity.”
Strategy Likely Bought the Dip as Well
Michael Saylor, chairman of Strategy, hinted through a social media post on Saturday that his company may have capitalized on the dip, sharing a visualization of Strategy’s Bitcoin holdings with the caption: “Don’t Stop ₿elievin’.”
Lookonchain also highlighted that Bitcoin miner MARA Holdings purchased 400 Bitcoin worth $46.3 million on Sunday.
