The cryptocurrency market managed to sustain its recovery over the past 24 hours. Most of the large-cap altcoins are trading in the green. Bitcoin maintained its recent rebound, as some alts delivered even stronger daily gains.
The total crypto market cap also rose as traders returned to risk assets following a volatile start to the month. However, BTC’s dominance remains steady, suggesting that the market recovery is unfolding in a balanced manner.
BTC Defends $62K Following Latest Bounce
Bitcoin’s price traded mostly in the green throughout the past 24 hours, staying above the $62K mark after reclaiming it earlier in the week. The asset changed hands at roughly $62,500, up about 1.3% on the day and 3.6% on the week.
BTC moved within a relatively tight daily range, briefly dipping toward $61,500 before buyers pushed it back above, even charting an intraday high around $62,800. The move kept its capitalization around $1.25 trillion.
ETF flows also showed signs of stabilizing. US spot Bitcoin ETFs recorded around $220 million in net inflows on July 2nd. Interestingly, most of it came in Fidelity’s products, as BlackRock clients continued to sell and offloaded over $40 million.
HYPE, ADA, XRP Outperform
The broader cryptocurrency market improved as well, with the total capitalization surpassing $2.2 trillion.
Ethereum traded around $1,754 after gaining more than 2% on the day and roughly 11% over the past week, making it a standout performer. Among the larger altcoins, Hyperliquid’s HYPE was one of those that increased the most over the past 24 hours, rising above $71 and gaining upwards of 6%. Cardano also advanced sharply, while XRP, Stellar, Dogecoin, Solana, and others posted more moderate gains.
The market’s next test is whether Bitcoin can rise above the current area between $62K and $63K, while altcoin momentum continues into the weekend.
Source: CryptoPotato
