Bitcoin continues to recover and has surged above $55,000 for the first time since Friday's crash.
Altcoins also showed small gains, with ETH above $2,300 and BNB strengthening its position above $500.
The major cryptocurrency had a very volatile and mostly weak week as it fell from near $60,000 (on Tuesday) to a monthly low below $53,000 on Friday night.
Within minutes, BTC jumped from $55,500 to $57,000, but that was only temporary. Instead, it quickly reversed course and plunged more than four thousand within hours, leaving millions of dollars in liquidity.
Bitcoin began a slow recovery over the weekend amid speculation over whether it had found its bottom, hovering around $54,000. Monday started on a positive note as the asset surged above $55,000 for the first time since Friday.
With today's increase of more than 1%, it means Bitcoin's market cap has increased to $1.090 trillion. However, its dominance over altcoins is still struggling at just over 53% in CG.
Toncoin has been among the weakest in recent weeks, largely due to the arrest of Telegram CEO Pavel Durov in France. However, this asset has seen the highest gains among the top 20 cryptocurrencies today. It is up by 6.4% daily and has returned to the $5 level.
FET and AAVE are two other altcoins that recorded significant gains. FET rose by 5.5%, while AAVE jumped by 9%.
ETH, BNB, DOGE, TRX, ADA, SHIB, and BCH also posted small increases, while LINK, UNI, AVAX, and NEAR added around 3-4% in value daily.
The total crypto market capitalization has jumped by $30 billion since yesterday and now stands at $2.050 trillion in CG.
