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#CryptoMarketRebounds
The crypto market showed signs of recovery with yesterday's sharp rise! Bitcoin (BTC) made a strong rebound from its lows around $60,000 during the day, climbing to the $69,000 range and gaining approximately 7-10%. Ethereum (ETH) showed an even more impressive performance, rising around 12-15% and surpassing the $2,000 level, settling in the $2,050-$2,100 range.
This rebound was accelerated by the liquidation of short positions; around $400-500 million in short positions were crushed in the last 24 hours. The total crypto market capitalization increased by 4-4.5%, approaching $2.35 trillion. ETF inflows and decreasing selling pressure also supported this recovery.
Currently, BTC is consolidating around $67,000-$68,000, and ETH around $2,030-$2,050. The $70,000 resistance level is critical in the short term. If it breaks through, momentum could increase. The market is still trying to get out of the "extreme fear" zone, but yesterday's move was promising.