Bitcoin and major cryptocurrencies have rebounded over the past 24 hours after a brutal weekend sell-off that pushed prices to multi-month lows and triggered billions of dollars of liquidations in derivatives markets.
Bitcoin was trading at just under $79,000 during Asian morning hours, recovering from the weekend low near $74,000. Ether climbed above $2,340, while Solana, BNB, XRP and Cardano saw gains of between 3% and 6% over the past 24 hours, according to market data. Despite the rebound, most large-cap tokens remain sharply down over seven days, with losses of up to 20%.
The move follows a broad capitulation that swept crypto markets over the weekend, marked by heavy long liquidations and low liquidity.
According to CF Benchmarks, the selloff could mark the end of a longer bearish streak that began with the October 10, 2025 deleveraging event.
“Bitcoin completed the bearish streak that began with the October 10 deleveraging event, with the recent washout retesting – and briefly undercutting – the April 2025 ‘Liberation Day’ lows, around $74,000,” said Gabe Selby, head of research at CF Benchmarks, a Kraken company.
He added that the weekend’s move triggered “massive and lengthy sell-offs” amid broader risk aversion and mixed earnings from US tech giants.
Selby noted that Bitcoin’s decline remains tied to regulatory headwinds — including the blocking of U.S. legislation on crypto market structure — and early signs of a hawkish reassessment around Federal Reserve policy. In contrast, recent declines in gold and silver reflect tight positioning following strong rebounds rather than common macroeconomic factors.
“Now that the April lows have been removed, Bitcoin is clearly at an inflection point,” Selby said.
“Aggressive, high-volume bidding is needed to establish a new bull market structure. Failure to sustain above these levels keeps downside risks toward liquidation clusters below $70,000.”
Elsewhere, Asian markets rebounded from their biggest decline in more than two months, helped by a rally in gold and silver that stabilized overall risk sentiment.
The MSCI Asia-Pacific index jumped 2.4%, its best session since April’s “Liberation Day” rally, while South Korean stocks jumped more than 5%. U.S. stock futures edged higher after Palantir’s upbeat forecast, even as uncertainty persisted around the Federal Reserve’s leadership and policy direction.
