Strong Recovery in Cryptocurrencies Brings 'Bitcoin' and 'Ethereum' Back to the Top
The cryptocurrency markets witnessed a strong recovery on Sunday, bringing its indicators back to the positive zone after two days of sharp losses, supported by the return of investors' 'risk appetite'.
Leading these gains, the price of 'Bitcoin' jumped by 1.45% to reach $112,920.75, achieving a notable recovery after having dropped yesterday to the level of $110,000.
'Ethereum' also notably regained the $4000 level, recording an increase of 6.2% during the day. 'Solana' did not lag behind this upward trend, as it surged by 7.5% to reach $191.
These gains reflected on the total market capitalization of the cryptocurrency market, which reached $3.92 trillion, marking an increase of +2.13% over the past 24 hours.
This recovery came after days in which the market suffered a sharp decline, as 'Bitcoin' dropped by about 8.74% over the past seven days. Cryptocurrency traders were affected by record liquidations just a few days after 'Bitcoin' reached its all-time high.
Analysts believe that this volatility is largely due to the recent round of tariffs imposed by U.S. President Donald Trump, which he announced last Friday, including raising tariffs on Chinese exports to the United States to 100%, along with restrictions on the export of all critical software. This decision came in response to the restrictions recently announced by China on the export of rare minerals, which are essential for technology and manufacturing industries, leading to a temporary decline in risk appetite in global markets.
