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    Home » Market Updates » Bitcoin Rebounds 10% From Yesterday’s Bottom, Crypto Markets Gain $120B (Market Watch)

    Bitcoin Rebounds 10% From Yesterday’s Bottom, Crypto Markets Gain $120B (Market Watch)

    Author: George Georgiev

    Last Updated Jan 26, 2022 @ 09:46

    The cryptocurrency market managed to recover about $120 billion since yesterday’s bloodbath. Bitcoin is trading around $36K while many altcoins bounce.

    The past 24 hours were quite turbulent throughout the cryptocurrency field, but this time around, bulls managed to catch a break and recovered some of the previous losses. The total market capitalization increased by about $120 billion since yesterday’s bottom as many coins managed to bounce back.

    Bitcoin Price Bounces 10%

    Right off the bat, it’s worth looking into Bitcoin’s price, which went on a massive roller coaster throughout the past 24 hours.

    Yesterday, the cryptocurrency plunged in a vicious downwards spiral and ended up hitting a price slightly below $33K (on Binance). This was followed by the entire market. However, bulls stepped in and defended the level with multiple consecutive hourly candles, which ultimately led the price to reach $37,550.

    img2_chart
    Source: Binance

    At the time of this writing, Bitcoin’s price hovers around $36K, which is an estimated 10% increase since yesterday’s bottom. Whether or not this is some sort of a relief rally or the beginning of a recovery, we have yet to see.

    Total Market Cap Gains $120 Billion

    With the bounce in BTC came the overall market recovery as the total capitalization increased by about $120 billion throughout the past 24 hours.

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    This came on the back of considerable gains coming from leading altcoins such as Solana, which is up 9% in the past 24 hours, much like Polkadot (DOT).

    img1_chart
    Source: Coin360

    As seen in the above heatmap, the majority of the market is in the green today, trying to patch the wounds from the past few days. Some of the more notable gainers include Fantom, which is up over 16%, ATOM – up 18%, and so forth.

    On the other hand, there are cryptocurrencies like DASH, as well as CVX, which failed to chart any considerable increases and are slightly down or breakeven compared to 24 hours ago.

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Bitcoin (BTC) Price Cosmos (ATOM) Fantom
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    About The Author

    George Georgiev
    More posts by this author

    Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over two years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
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