The crypto market turned positive over the past 24 hours, with broad participation across major assets and legacy altcoins. Total market capitalisation rose fro $2.19 trillion to $2.35 trillion as Bitcoin price stabilized above $68,000, and established tokens like Polkadot (DOT), Uniswap (UNI), and Cardano (ADA) posted notable gains.
Besides, the Ethereum price secured $2000, XRP $1.44, BNB $600 and Dogecoin $0.1. In the meantime, Solana price surged past $87 and is heading towards $90 while Cardano approaches $0.3 and reclaims the top 10th position, flipping Bitcoin Cash. Moreover, the ADA price is currently the best performer among the top 10 cryptos.
The rebound comes amid a wave of short liquidations and renewed inflows into spot Bitcoin ETFs, suggesting a mix of mechanical short squeezes and fresh institutional demand behind the move.
Bitcoin traded within a firm range over the past 24 hours, recovering from recent volatility and holding above key short-term support levels. The BTC price is up by 4.52%, reaching $68,297 in the past 24 hours after marking an intraday high at $69,953. The volume also increased prominently by more than 27%, rising over $50 billion, which helped to mount enough buying pressure.
The short-term price action of BTC shows the bulls gaining huge strength, but they failed to push the crypto beyond the crucial resistance at $69,925 or $70,000. However, the bullish momentum has not faded yet, as the rally has surged above the 50-day MA, which may act as a support in case of a correction. The chart patterns suggest a breakout could be nearby, but rising above the resistance zone between $71,374 and $71,681 is extremely important to validate the beginning of a recovery phase.
Ethereum mirrored Bitcoin’s stabilization, posting moderate gains and maintaining strength above recent support zones. However, the real momentum shift was visible in established altcoins. Rather than speculative meme tokens leading the rally, capital rotated into older, structurally established projects.
Several long-standing cryptocurrencies outperformed the broader market:
The participation of these “old guard” tokens suggests the move is not isolated to Bitcoin alone. Broader risk appetite appears to be returning to the fundamentally strong projects, suggesting the market participants are now rising above short-term trends.
One of the biggest drivers behind the recent bullish push is the short liquidations that occurred in the past 24 hours. The crypto market witnessed over $573 million in liquidations, of which the shorts account for nearly $468.5 million.
Of $468.5 million, nearly $233.25 million in shorts were liquidations of Bitcoin alone, and the largest single liquidation order happened on Hyperliquid with a value of $10.41 million. Yet another major bullish factor behind the recent surge is the rising ETF inflows. The net inflows surged above $697 million, of which the BTC ETFs account for more than $500 million.
Top institutions like BlackRock, Fidelity, Bitwise, 21Shares, and VanEck are recording positive change, while Grayscale remains negative. ETF inflows represent real spot buying rather than leveraged speculation, adding credibility to the rebound. While one day of inflows does not confirm a long-term trend reversal, it signals that institutional appetite has not disappeared.
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