After falling almost $4,000 in one day, bitcoin reacted well and rebounded to over $46,000. Most altcoins are also in the green today. Impressive gains are evident for Ethereum, Binance Coin, Solana, Avalanche, NEAR Protocol, Axie Infinity and others.

Bitcoin recovers $46,000

Last week started with a notable surge in bitcoin prices when the asset fell from $45,000 to just under $48,000 to mark its highest price since early January. He failed to break through this level at first, but managed to do so a day later.

After hitting a three-month high, the cryptocurrency stagnated for the next few days and remained between $47,000 and $48,000. That changed on March 31 when BTC fell from $47,700 to just over $44,000 within hours.

Nevertheless, bitcoin reacted well to this price drop and began to recover in value almost immediately. As such, it reached and surpassed $47,000 a few hours ago. Despite returning to $46,600 at the time of writing, BTC is still up over 3% on the day.

BTCUSD. Source: Trading View

AXS and NEAR lead the way

Altcoins also suffered yesterday, but the situation today is vastly different.

Ethereum fell to around $3,300, but a 6% rise since then has pushed the second-largest cryptocurrency to just under $3,500 so far. This is the highest price level for ETH in almost three months.

Binance Coin has added about 5% in value over the past 24 hours and sits at a two-month high at $450. More impressive gains come from Solana (7.5%), Terra (6%), Avalanche (7%), Dogecoin (5%), Shiba Inu (6.5%) and MATIC (5%).

Ripple, Cardano and Polkadot are also in the green but with slightly more modest gains.

NEAR Protocol and Axie Infinity stole the show. NEAR is up nearly 20% and sits above $15. Axie Infinity jumped around 12% on a daily scale, despite the recent hack against Ronin, and sits above $70.

The crypto market capitalization has recovered around $100 billion since yesterday and is again above $2.150 billion.

Presentation of the cryptocurrency market.  Source: Quantify Cryptography
Presentation of the cryptocurrency market. Source: Quantify Cryptography
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Cryptocurrency charts by TradingView.



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