The cryptocurrency market has experienced a notable rebound, with the total market capitalization increasing by $32 billion in the past 24 hours to reach $2.24 trillion. This recovery suggests a potential exhaustion of recent bearish trends, as stabilizing sentiment across Bitcoin and major altcoins supports a short-term recovery. The next critical resistance level for the market cap is $2.30 trillion, a threshold that, if surpassed, could signal renewed bullish momentum.
Bitcoin has climbed back above the $65,000 mark, trading at $65,604. The cryptocurrency has been rangebound between $65,000 and $70,000 for nearly three weeks, indicating balanced supply and demand. The recent rebound suggests a temporary improvement in bullish sentiment, with potential macroeconomic factors possibly strengthening momentum toward the next resistance at $67,674.
Among altcoins, Morpho (MORPHO) has emerged as the best performer, gaining 12% to trade at $1.76. The token's rally is supported by steady capital inflows and a rising Chaikin Money Flow indicator, indicating sustained buying interest. A breakout above $1.84 could lead to further gains, although profit-taking could trigger a pullback toward $1.50 support.
Crypto Market Rebounds as Bitcoin Surges Above $65,000
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