Bitcoin Bounces Back, SUI Rockets to $4

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The total crypto market cap has regained over $70 billion since yesterday’s low.

Bitcoin’s sudden nosedive on Thursday evening and most of Friday has finally stopped as the asset bounced off and recovered three grand from bottom to top.

The altcoins are also well in the green today, with ETH jumping back above $3,700 and SUI marking a notable double-digit surge.

BTC Reclaims $117K
The primary cryptocurrency was in a consolidation phase since July 14, when it hit a new all-time high of over $123,000. In the following ten days or so, it remained sideways around $118,000, with a few brief attempts for a breakout in each direction.

The buyers and sellers managed to maintain equilibrium for a while, but the bears took control on Thursday evening as Galaxy Digital began disposing of massive portions of BTC. In a matter of hours, bitcoin’s price tumbled from over $119,000 to a two-week low at $114,500.


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