Bitcoin Bounces Back From $102K Low, AAVE Rises More Than 20% in Altcoin-Led Rally (Market Watch)

Monday's volatility in Bitcoin (BTC) carried on from the recent trend, providing investors with a rollercoaster experience. Picking its peak just short of $107,000, the asset plunged to slightly above $102,000 before recovered again to $106,600 within hours, indicating increasing tension between the bulls and bears in the market.

Bitcoin's Wild Swings

At the close of last week, bears took control of the market, pushing Bitcoin BTCUSD to below $102,000. But BTC was quick to recover, rising above $103,000 on Friday and continuing with sideways action over the weekend.

Momentum gained in the evening of Sunday, with BTC surging to $106,000, but the move was reversed shortly afterwards as it fell back below $103,500. The market flipped again, enabling Bitcoin to touch a high of $107,000, its highest since January.

The second retracement saw the asset hit $102,000, but it quickly recovered to $106,600. As of today, BTC holds firm above $105,000, with a market cap of almost $2.090 trillion and dominance at a strong 60.7%.

Altcoin Market Registers Excellent Gains

The general crypto market has experienced bullishness with most altcoins bouncing back from recent declines:

Ethereum (ETH) jumped by 5.5%, re-taking the $2,500 level.

XRP held its support and currently trades at $2.35.

Other significant gainers are SOL, TRX, SUI, LINK, AVAX, SHIB, HBAR, and TAO, all with up to 7% gains.

AAVE Takes the Lead with 20% Breakout

Out of major-cap altcoins, AAVE has been a standout performer, jumping more than 20% over the last 24 hours and sitting at $265. The breakout places AAVE at the head of major altcoins' performance.

Crypto Market Outlook

The overall crypto market capitalization has risen by almost $100 billion since yesterday to $3.450 trillion, as per CG data. While Bitcoin's volatility is far from over and altcoins are gaining ground, the market seems set for more turmoil—and possible opportunity.

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