TL;DR:
- Bitcoin rebounded above $100K after falling below $99K, its lowest in five months.
- ASTER and HYPE led the altcoin recovery with 6-7% daily gains.
- The total crypto market cap recovered to $3.45T after losing $400B in two days.
After a bruising two-day selloff that erased nearly $400 billion from the global crypto market, Bitcoin and select altcoins are showing signs of life. The flagship cryptocurrency rebounded above $100,000, while ASTER and HYPE unexpectedly led a mini altcoin recovery, breaking through market pessimism that had begun to settle in.
Bitcoinās swift drop tests market confidence
Bitcoin fell to its lowest level in five months, sliding under $99,000 before bouncing back above $101,000. The fall followed a week of volatility after the U.S. Federal Reserveās interest rate cut triggered a wave of uncertainty. BTC had recently tested the $116,000 resistance but failed to hold above it, leading to sharp sell pressure that accelerated on Monday and Tuesday. Analysts briefly questioned whether this marked the start of a new bear market, yet bulls stepped in to defend the $100K line, hinting that sentiment remains cautiously optimistic.
Ethereum erased all its 2025 gains during the rout, plunging from $3,900 to below $3,200 before a mild rebound to $3,300. Other large caps like XRP, BNB, SOL, DOGE, ADA, LINK, BCH, and XLM also saw red across daily charts, reflecting broad market pain. Amid the losses, ASTER and HYPE defied the trend, each surging between 6% and 7% overnight. Their rallies suggest selective investor appetite is returning to smaller tokens that had previously lagged behind during Bitcoinās dominance-driven months.
The total crypto market cap rebounded to $3.45 trillion, offering short-term relief after dropping from its weekly highs. Bitcoinās dominance increased to 58.6%, underscoring its strength as capital rotated from altcoins into safer digital assets. While sentiment remains fragile, the sudden bounce from ASTER and HYPE highlights a potential turning point where traders cautiously re-enter the market following extreme volatility.
