Following substantial weekly depreciation, the cryptocurrency market has shown signs of a partial rebound, with key assets including Bitcoin, Ethereum, XRP, and Dogecoin trimming a portion of their steep losses. The market leader, Bitcoin, successfully clawed its way back to the $84,000 level, even as the market remains under the influence of elevated liquidations and is still officially gripped by a state of "extreme fear." This upward movement suggests underlying buying interest emerged following the severe correction, reports The WP Times with reference to Telegram.
The current market environment is characterized by sharp volatility: while Bitcoin demonstrates resilience by recovering this crucial price point, the overall sentiment index continues to signal prevailing panic. The high volume of liquidations—the forced closure of leveraged trading positions—underscores persistent risk but may also signal the potential conclusion of the intense selling pressure phase. Smaller altcoins, including Ethereum, XRP, and the memecoin Dogecoin, mirrored Bitcoin's move by beginning to mitigate the sharp losses recorded earlier in the week. The sustained presence of "extreme fear" indicates that investor caution remains high, suggesting that any sustained recovery will be tentative.
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