Key Takeaways
- Bitcoin bounced back above $90,000 after dropping to $84,000 on Monday.
- Altcoins surged with SKY, PUMP, and SUI among the top performers as short liquidations exceeded $138 million.
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Bitcoin climbed back above $90K on Tuesday morning after a steep selloff rattled markets on Monday, when the asset fell from $91K to near $84K. The downturn in crypto followed a weak open in equities, but both markets moved higher on Tuesday as new bullish momentum lifted risk assets.
At press time, the S&P 500 was up 0.3% and the Nasdaq was higher by almost 1%, while Bitcoin pushed through the $90K level once again. Among major assets, Ether traded near $3K, Solana near $134, and XRP around $2.15.
The rebound lifted the broader crypto market by 5.7% over the past 24 hours, with several altcoins posting double-digit gains. SKY rose 17%, PUMP gained 15%, and SUI climbed 13%, placing them among the strongest performers within the top 100 assets by market cap.
The rapid move higher triggered more than $138 million in short liquidations and $2 million in long liquidations over the past hour. Bitcoin was trading near $91,000 at press time.
