Bitcoin Attempts Recovery But Stalls at $86K

After a series of worrying pullbacks, Bitcoin showed signs of recovery over the weekend. The leading cryptocurrency, which had seen a sharp drop to $78.250 – its lowest level in three months – managed to add approximately $7.000 to its price.

At the time of publication, BTC was trading at $84.495,04, up 5% in the last 24 hours, but down 12% on the week.

This advance occurred after the cryptocurrency had outlined an approach to the US$ 100.000 barrier the previous week, although it quickly retreated after a security incident on the Bybit exchange.

The outlook for Bitcoin changed on Tuesday, with the price falling to $86.000, a significant drop since the weekend and a cumulative loss of over $13.000 since Friday. A brief reprieve lifted the price to $89.000, but a subsequent drop took it down to $82.000 on Thursday. The most challenging moment came on Friday morning, when Bitcoin’s value fell below $80.000, hitting a low of $78.200 on Binance.

Defying the expectations of some analysts, who had anticipated an even steeper drop to $73.000, Bitcoin has shown resilience. The cryptocurrency is currently trading at around $85.000, keeping its market cap just below $1,7 trillion, with a roughly 58% share of altcoins, according to recent data.

Meanwhile, alternative currencies, known as alts, also showed significant recovery. Ethereum, for example, registered a 5% increase, reaching values ​​above US$ 2.200. BNB approached US$ 600, with an increase of 4%. Ripple stood out by not only maintaining its value at US$ 2, but also advancing to US$ 2,17, an increase of 8%.

Other cryptocurrencies, such as SOL, DOGE, ADA, SUI, and XLM, saw significant price increases, ranging from 7,5% to 15%. Cryptocurrencies HBAR, APT, BCH, ONDO, and TRUMP all saw double-digit price gains.

By the end of this week, the cryptocurrency market had experienced a robust recovery, adding around $200 billion to its value, reaching a total market cap of $2,9 trillion.