The cryptocurrency market has managed to maintain its recovery over the past 24 hours. Most of the large value altcoins are trading in the green zone. Bitcoin has maintained its recent rebound, with some altcoins posting stronger daily gains.
The total market capitalization of cryptocurrencies as well It rose as traders returned to risky assets after volatility start in month. However, Bitcoin’s dominance remains steady, suggesting that the market recovery is unfolding in a balanced manner.
BTC defends $62k after recent bounce
Bitcoin price has traded mostly in the green throughout the past 24 hours, remaining above the $62,000 level after recovering earlier in the week. The asset was trading at approximately $62,500, up about 1.3% on the day and 3.6% on the week.
Bitcoin moved within a relatively tight daily range, briefly falling towards $61,500 before buyers pushed it back higher, even setting an intraday high around $62,800. The move kept its capital at about $1.25 trillion.
ETF flows also showed signs of stabilization. US Bitcoin ETFs recorded about $220 million in net inflows on July 2. Interestingly, most of it came from Fidelity products, where BlackRock clients went on to sell and unload over $40 million.
HYPE, ADA, XRP outperform
The broader cryptocurrency market has also improved, with the total market cap exceeding $2.2 trillion.
Ethereum was trading at around $1,754 after rising more than 2% on the day and around 11% over the past week, making it an outstanding performer. Among the larger altcoins, Hyperliquid’s HYPE coin was one of the ones that rose the most over the past 24 hours, rising above $71 and posting gains of over 6%. Cardano also advanced sharply, while XRP, Stellar, Dogecoin, Solana and others posted more moderate gains.
The next test for the market is whether Bitcoin can rise above the current $62K-$63K area, while altcoin momentum continues into the weekend.
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