Bitcoin recovered to around $62,800 after briefly falling below $58,000 on July 1, while parts of the altcoin market showed renewed momentum. The rebound was uneven, with some tokens rallying sharply and others still posting losses.
Bitcoin recovered to around $62,800 after briefly falling below $58,000 on July 1, while parts of the altcoin market showed renewed momentum. The rebound was uneven, with some tokens rallying sharply and others still posting losses.
Crypto markets began the week on firmer footing after last week's selloff, with bitcoin trading around $62,800 on Monday after dipping below $58,000 on July 1. Ether also recovered, trading near $1,760 after bottoming around $1,550 last week, according to CoinDesk.
Crypto markets began the week on firmer footing after last week's selloff, with bitcoin trading around $62,800 on Monday after dipping below $58,000 on July 1. Ether also recovered, trading near $1,760 after bottoming around $1,550 last week, according to CoinDesk.
The move matters because the rebound eased immediate fears of a deeper slide, but it did not signal a broad recovery across digital assets. Bitcoin and ether both gave back about 1% after Sunday's futures open, even as Nasdaq 100 and S&P 500 futures moved higher following the long U.S. weekend.
Altcoins showed a more divided picture. Lighter's LIT token rose 13.5% over 24 hours and more than 50% over the week, helped by trader interest in its decentralized derivatives exchange, which recorded $40 billion in 30-day volume. PYTH also gained 6% since midnight UTC as some traders rotated into more speculative tokens.
Broader altcoin sentiment improved, with CoinMarketCap's Altcoin Season indicator rising to 52 out of 100, its highest level in three months. Still, the strength was not universal: MORPHO and ADA were down about 4% over 24 hours, while JITO, BEAT and STABLE had lost between 5% and 13% over the past week and continued to weaken Monday.
Derivatives data also pointed to a market that remains cautious. Open interest in major tokens such as bitcoin, ether, solana and XRP was mostly unchanged, while bitcoin and ether options still showed downside protection trading at a premium to upside calls, even though that gap has narrowed since early last month.
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