Bitcoin Rebounds to $86K as ZEC, XMR Lead Altcoin Rally

Bitcoin’s price recovery continued through the weekend as the world’s largest cryptocurrency climbed past $86,000 earlier today, marking a significant rebound from Friday’s dramatic sell-off that saw BTC bottom below $81,000. This recovery comes after a challenging period that began approximately ten days ago when Bitcoin decisively broke below the $100,000 psychological level and has struggled to regain that threshold since. The previous business week saw bears maintain complete control, driving the asset below $90,000 for the first time since April on Tuesday and maintaining downward pressure throughout the week.

The culmination of this bearish momentum occurred on Friday when Bitcoin lost over $8,000 in value within just 12 hours, plummeting below $81,000 to establish a new seven-month low. This sharp decline was attributed to increasing selling pressure from whales and ETF investors who contributed to the downward spiral. However, bulls finally intervened after this significant drop, preventing further losses and helping BTC maintain support above the critical $80,000 level. The subsequent recovery saw Bitcoin bounce modestly on Saturday before climbing above $86,000 earlier today, with its market capitalization rising to $1.720 trillion.

While Bitcoin’s recovery has been modest, several altcoins have produced more impressive gains since yesterday, with ZEC and XMR emerging as today’s standout performers. Zcash (ZEC) surged by 14% to approach the $580 level, while Monero (XMR) jumped 16% to reach $400, demonstrating significant momentum in the privacy-focused cryptocurrency segment. Ripple’s XRP also showed strong performance, reclaiming the $2.00 level after a 7% increase that outpaced Bitcoin’s recovery.

Ethereum added over 3% of value in the past 24 hours, trading above $2,800 as the second-largest cryptocurrency by market capitalization. Other major altcoins including Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Bitcoin Cash (BCH) also posted solid gains, trading well in the green. Among larger-cap altcoins, Crypto.com Coin (CRO), Hedera (HBAR), Mantle (MNT), Bittensor (TAO), and Aave (AAVE) registered impressive performances, contributing to the broader market recovery. In contrast, HYPE experienced a nearly 5% decline, dropping below $32 amid the general market uptrend.

The total cryptocurrency market cap has added over $60 billion in daily trading volume, successfully reclaiming the crucial $3 trillion threshold that had been lost during the recent downturn. This substantial recovery reflects renewed investor confidence across the digital asset space, with Bitcoin’s dominance over altcoins standing close to 57% on CoinGecko. This dominance level indicates that while altcoins have shown stronger percentage gains in the short term, Bitcoin continues to maintain its position as the market leader, accounting for more than half of the total cryptocurrency market valuation.

The weekend recovery represents a significant shift from the bearish sentiment that dominated the previous week, when selling pressure from institutional investors and large holders drove prices to multi-month lows. The ability of the market to absorb this pressure and stage a meaningful rebound suggests underlying strength in the cryptocurrency ecosystem. As Bitcoin stabilizes above $86,000 and altcoins continue to demonstrate outsized gains, market participants will be watching closely to see if this recovery can be sustained into the new trading week or if resistance levels will trigger another round of profit-taking.