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The total market capitalization of cryptocurrencies surged back above $4 trillion on Sunday, with Ether, BNB, and Dogecoin experiencing double-digit gains following Friday’s market downturn that erased nearly $500 billion in crypto value.
The three major cryptocurrencies rose by 10.5%, 13.6%, and 12.5% over the past 24 hours, while Solana (SOL), Cardano (ADA), and Chainlink (LINK) also climbed over 10%, according to CoinGecko data.
Synthetix (SNX) briefly soared over 100%, surpassing its pre-crash price point and achieving a new high for 2025. Additionally, several smaller-cap coins like Mantle (MNT) and Bittensor (TAO) saw increases of over 30%.
The market crash, which caused Bitcoin to drop from approximately $121,560 to under $103,000, was instigated by US President Donald Trump’s 100% tariff on China, intended to enforce export limits on vital rare earth minerals necessary for manufacturing computer chips.
The market instability was further intensified by Binance’s front end erroneously displaying $0 prices for various altcoins, along with the USDe synthetic dollar losing its peg on Binance due to an internal oracle malfunction.
The crypto market began its recovery around the time Trump stated “not to worry about China,” emphasizing that the intention was to assist China rather than harm it.
Though prices have not entirely rebounded since Friday’s crash, the recovery has left many hopeful that Bitcoin (BTC) might still aim for $200,000 before the close of 2025.
Market analyst Mister Crypto noted that Bitcoin is retesting the golden cross—a bullish technical pattern historically preceding notable rallies, including a staggering 2,200% increase in 2017 and a 1,190% rise in 2020.
“The setup appears extremely strong,” he mentioned, asserting that a confirmed breakout could “significantly elevate” Bitcoin’s price in the coming weeks.
Crypto trader Alex Becker expressed that there’s a “very high chance” this marks the beginning of a bull market, while Jan3 founder Samson Mow remarked: “It’s time for Bitcoin’s next upward movement.”
Another analyst, known as “Mac,” commented that while the risk-to-reward dynamics seem favorable, he does not foresee a rapid surge in the short term, but speculated that “a bit more upward movement” could happen over the upcoming week.
Bitcoin is presently trading at $115,585, still down by 4.9% since the dip began and about 8.8% from its high of $126,080 achieved last Monday, according to CoinGecko data.
BitMine capitalized on the dip
In the meantime, BitMine Immersion Technologies, the largest corporate holder of Ether (ETH), acquired over 128,700 ETH valued at $480 million shortly after the market crash, as noted by crypto analytics platform Lookonchain .
BitMine’s executive chairman, Tom Lee, indicated that the stock market retracement was “somewhat overdue,” considering the market has risen approximately 36% since the lows in April.
“I consider this a timely flush,” Lee told CNBC, stating that any decline in price without structural changes is a “great buying opportunity.”
Strategy may have bought the dip too
Michael Saylor, executive chairman of Strategy, hinted at his company potentially purchasing during the dip, sharing a chart of Strategy’s Bitcoin holdings on X with the caption: “Don’t Stop ₿elievin’”
Related: Why did some altcoins on Binance crash to zero?
BitBo’s Bitcoin Treasuries data indicates that no other company holding Bitcoin confirmed any purchases or sales over the weekend.
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