Bitcoin experienced a sharp decline on Monday, with its price dropping by $10,000 before recovering almost completely, but losing some momentum afterwards.
Altcoins also followed suit with large price movements, but most have now returned to the green in the last 24 hours on Tuesday.
The major cryptocurrency surged after the US Federal Reserve kept interest rates on hold last week, reaching highs above $106,000 on Thursday and Friday. However, it lost momentum on Saturday.
Things worsened over the weekend after US President Donald Trump signed orders imposing tariffs on Canada, Mexico, and China. Following this development, BTC fell from $102,000 to $97,000 on Sunday.
However, the real shock came on Monday morning when Bitcoin plunged to $91,300 on most exchanges, losing over $10,000 in 24 hours.
However, BTC quickly rebounded to $96,000 in the afternoon before regaining momentum overnight. It even surged above $102,000 (a $10,000 gain in 12 hours) after Mexico and the US agreed to suspend tariffs for a month.
Since then, BTC has lost some of its value again and is currently at $99,000. Its market capitalization has returned to $1.95 trillion, while its dominance over altcoins has increased to 58.5% according to CoinGecko.
Altcoins suffered a worse correction yesterday with large double-digit drops. However, most have recovered:
Ethereum (ETH) rose 6% to $2,700.
XRP, which fell below $2, is now back at $2.5.
Solana (SOL), Dogecoin (DOGE), Chainlink (LINK), Cardano (ADA), Avalanche (AVAX), Stellar (XLM), Sui (SUI), HBAR, and Shiba Inu (SHIB) also posted significant gains in the last 24 hours.
Conversely, TON is still down 3.5%, while TRUMP is down 6% in a day and over 40% in a week.
The overall crypto market capitalization has recovered $250 billion since yesterday's lows and now stands at $3.35 trillion.
