Bitcoin and major cryptocurrencies have rebounded in the past 24 hours after a brutal weekend sell-off that drove prices to multi-month lows and sparked billions of dollars in selloffs in derivatives markets.
Bitcoin was trading just under $79,000 during Asian morning hours, recovering from weekend lows near $74,000. Ether surpassed $2,340, while Solana, BNB, XRP and Cardano posted gains of between 3% and 6% in the last 24 hours, according to market data. Despite the rally, most large-cap tokens continue to fall sharply over seven days with losses of up to 20%.
The move follows a broad capitulation that swept through crypto markets over the weekend, marked by heavy long liquidations and low liquidity.
According to CF Benchmarks, the sell-off may mark the end of a longer bearish sequence that began with the October 10, 2025 deleveraging event.
“Bitcoin has completed the bearish sequence that began with the October 10 deleveraging event, with the recent failure retesting, and briefly undercutting, the April 2025 ‘Liberation Day’ lows of around $74,000,” said Gabe Selby, head of research at CF Benchmarks, a Kraken company.
He added that the weekend move triggered “massive long-term liquidations” amid broader flows of risk aversion and mixed earnings from US tech giants.
Selby noted that bitcoin’s decline remains tied to regulatory hurdles – including stalled US legislation on crypto market structure – and early signs of aggressive repricing around Federal Reserve policy. Instead, recent declines in gold and silver reflected saturated positioning following strong rallies, rather than shared macroeconomic factors.
“Now that the April lows have been broken, bitcoin is at a clear inflection point,” Selby said.
“Aggressive, high-volume bidding is needed to establish a new bull market structure. Failure to stay above those levels keeps downside risks alive toward liquidation pools below $70,000.”
Elsewhere, Asian markets rebounded after their biggest sell-off in more than two months, helped by a rally in gold and silver that stabilized broader risk sentiment.
The MSCI Asia Pacific Index jumped 2.4%, its strongest session since April’s “Liberation Day” rally, while South Korean stocks rose more than 5%. U.S. stock futures rose following Palantir’s upbeat guidance, even as uncertainty persisted over the Federal Reserve’s leadership and policy direction.
