Bitcoin collapsed to $33,159 overnight, but recovered sharply by several thousand dollars afterwards as well. Most alts also gained slightly, and Cardano added 11%, according to the analytics department of the Xoverbit exchange
After another day of high volatility, under bearish pressure, Bitcoin recovered about $3,000 from its current 7-day low recorded on Sunday. Altcoin repeated its leader’s chart, as usual, and market capitalization lost about $200 billion at one point.
This weekend and the previous weekend did not disappoint in terms of volatility and price swings.
Bitcoin is recovering from the fall
As Xoverbit reports, it’s safe to say that the best times for the cryptocurrency have come to an end, however, this is just a correction and a shift to flat, despite the general investor panic. A few days ago Bitcoin lacked just a few steps to decisively cross $40,000, but so far the attempts are unsuccessful.
On the contrary, every attempt has been met with determined rejection. The most recent one, which occurred on May 27, had a major impact on the cryptocurrency, and in the following hours, BTC fell to $35,000.
Although a few thousand dollars were recovered fairly quickly, the situation worsened in the last 24 hours. Bitcoin was trading at $37,000, but the bears regained control and drove it south again.