Bitcoin Rebounds Above $66k Following Massive Weekend Selloff

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

Bitcoin has rebounded above the $66k level after recording a massive selloff over the weekend that saw it drop below $62k for the first time in weeks.

TL;DR

  • BTC experienced a massive selloff over the weekend, dropping below the $62k level for the first time in weeks.

  • However, it has slightly rebounded and is now trading above $66k per coin.

BTC Surges By 2% Following This Weekend’s Selloff

Bitcoin, the world’s leading cryptocurrency by market cap, is recovering from last weekend’s selloff. The cryptocurrency is trading above the $66k level over the last 24 hours after adding more than 2% to its value.

The selloff saw BTC trade below the $62k level for the first time in weeks. The massive losses recorded by BTC and other cryptocurrencies happened due to the regional crisis in the Middle East.

The crisis between Iran and Israel saw stocks and cryptocurrencies record massive losses over the weekend. However, BTC is now slowly recovering and is trading above $66k as the Bitcoin halving event draws closer.

Meanwhile, Ether, the second-largest cryptocurrency by market cap, is up by more than 6% in the last 24 hours. At press time, ETH is trading at $3,253 per coin. Toncoin is the best performer amongst the top 10 cryptocurrencies by market cap.

TON is up by more than 8% in the last 24 hours, allowing it to surpass Dogecoin to become the 8th-largest cryptocurrency by market cap. 

With the market recording losses over the weekend, the total cryptocurrency market cap has dropped below $2.5 trillion and now stands at $2.43 trillion.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.