Crypto Markets Today: Bitcoin Leads Rebound, Altcoins Rally During Longer-Term Downturn
Bitcoin recaptured $87,000 on Tuesday as improving risk appetite and a strong equities session helped lift major altcoins.
What to know:
- Bitcoin rose 1.8%, rejecting the weekend’s pessimism, after the Nasdaq Composite Index’s biggest daily gain since May boosted risk sentiment.
- Altcoins outperformed, with SUI, ENA, BONK and CC jumping as much as 11% amid signs of bottoming; ETH’s 3.3% gain improved sentiment despite its month-long decline.
- Privacy coins lagged, with ZEC dropping 6.6% and DASH also in the red.
Bitcoin BTC$87,164.06 found its groove on Tuesday, rallying 1.8% over 24 hours to $87,250 as it begins to recover from the negative sentiment and downside price predictions that have surfaced since the weekend.
BTC’s relative strength paved the way for a number of altcoins post even larger gains. SUI, ENA, BONK and CC all rose more than 8% as investors looked to take on more speculative assets following signals the market may be turning, at least in the short term.