Bitcoin Rebound Falters at $64K, Altcoins Surge as Crypto Market Recovers
Bitcoin's recent rebound stalled twice within the $62,000-$64,000 range, leaving the market uncertain about its short-term direction. The cryptocurrency failed to break through the resistance zone, retreating nearly $1,000 after briefly touching $64,200.
The two rejected boundary tests suggest that neither buyers nor sellers have secured control of the short-term range. Positive flows into spot Bitcoin exchange-traded funds may have supported the rebound, while fading concern around recent wallet losses and corporate selling helped stabilize sentiment without producing a decisive breakout.
In contrast, larger-cap altcoins like ADA, AVAX, and DOT rose more than 5% during the broader recovery. Cardano (ADA) approached $0.20 and reached its strongest level in weeks, with open interest reaching a record 2.79 billion tokens and aggressive buying supporting the spot gain.
Total crypto capitalization recovered roughly $40 billion from Monday's low to approximately $2.24 trillion. However, the market's improvement remained selective rather than evidence of a synchronized risk-on shift.