{"id":8968,"date":"2022-02-25T17:14:39","date_gmt":"2022-02-25T17:14:39","guid":{"rendered":"http:\/\/egrowonline.com\/?p=8968"},"modified":"2022-02-25T17:14:39","modified_gmt":"2022-02-25T17:14:39","slug":"bitcoin-recovers-above-39k-as-altcoins-post-double-digit-gains","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=8968","title":{"rendered":"Bitcoin Recovers Above $39K as Altcoins Post Double-Digit Gains"},"content":{"rendered":"


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As per CoinMarketCap<\/a> data, the cryptocurrency market is once again a sea of green after yesterday’s steep sell-off. Bitcoin rose above the $39,000 mark as most altcoins recorded double-digit gains. This follows a steep sell-off a day earlier that saw nearly $200 billion wiped off the market.<\/p>\n

\"CoinMarketCap
Courtesy: CoinMarketCap <\/a>Data<\/em><\/figcaption><\/figure>\n

At press time, Bitcoin<\/a>\u00a0was trading nearly 11% higher at $39,251, after reaching intraday highs of $39,716. Bitcoin had fallen as low as $34,322 in the prior day. Top cryptocurrencies, including Ethereum, XRP, Cardano, Terra (LUNA), Shiba Inu and\u00a0Dogecoin saw solid gains as well.<\/p>\n

As a wide reversal in U.S. stock\u00a0markets drove key indices to close higher, Bitcoin held onto its recovery from one-month lows of $34,322. Cryptocurrencies benefited from the upward trend in prices.<\/p>\n

Alternative cryptocurrencies led the broader crypto market recovery, having taken a bigger hit during the market sell-off. LUNA, FTM and Tezos were among the notable gainers in the top 50.<\/p>\n

Meme coin Shiba Inu has gained over 8% over the last 24 hours, according to data provided by CoinMarketCap. The token is currently trading at $0.000024. Rival joke-coin\u00a0Doge\u00a0has also recorded gains over the same period, rising by about 7%.<\/p>\n

\"TradingView
BTC\/USD Daily Chart, Courtesy: TradingView<\/a><\/em><\/figcaption><\/figure>\n

Analysts believe that Bitcoin’s surprising rebound could also be the result of a so-called short squeeze. Several altcoins experienced a ”short squeeze” after reaching oversold conditions.<\/p>\n

On-chain analytics firm\u00a0Santiment<\/a> earlier reported that several assets, such as ADA, MATIC, CRO\u00a0and LINK, look\u00a0particularly oversold.<\/p>\n

The Crypto Fear & Greed Index<\/a>, measuring market sentiment, has improved from yesterday’s ”extreme fear.”\u00a0At press time, the index measured just 27\/100\u2014characterizing “fear,” a slight rebound from yesterday’s ”extreme fear.”<\/p>\n<\/div>\n


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As per CoinMarketCap data, the cryptocurrency market is once again a sea of green after yesterday’s steep sell-off. Bitcoin rose above the $39,000 mark as most altcoins recorded double-digit gains. This follows a steep sell-off a day earlier that saw nearly $200 billion wiped off the market. Courtesy: CoinMarketCap Data At press time, Bitcoin\u00a0was trading […]<\/p>\n","protected":false},"author":1,"featured_media":8969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[42],"tags":[5582,200,50,946,615,1992,2792],"class_list":["post-8968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","tag-39k","tag-altcoins","tag-bitcoin","tag-doubledigit","tag-gains","tag-post","tag-recovers"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/12953.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8968"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8968\/revisions"}],"predecessor-version":[{"id":8970,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8968\/revisions\/8970"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/8969"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8968"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}