The total cryptocurrency market capitalization surged back above $4 trillion on Sunday, with Ether, BNB, and Dogecoin recording double-digit gains following Friday’s market crash that erased nearly $500 billion in crypto valuation.
The three leading coins have rallied 10.5%, 13.6%, and 12.5% in the past day, while Solana (SOL), Cardano (ADA), and Chainlink (LINK) have also gained over 10%, according to CoinGecko data.
Synthetix (SNX) experienced a brief increase of over 100%, surpassing its pre-crash price and setting a new high for 2025, while several smaller-cap coins, such as Mantle (MNT) and Bittensor (TAO), rose by more than 30%.
The market crash occurred when Bitcoin dropped from approximately $121,560 to under $103,000, triggered by US President Donald Trump imposing a 100% tariff on China to restrict exports of rare earth minerals needed for computer chip production.
This market turmoil was compounded by Binance displaying $0 prices on multiple altcoins, along with the USDe synthetic dollar losing its peg on Binance due to an internal oracle malfunction.
The crypto market began to recover when Trump stated “not to worry about China,” and mentioned a desire to help China rather than harm it.
Although prices haven’t fully bounced back from Friday’s situation, the recovery has sparked optimism that Bitcoin (BTC) could still aim for $200,000 before the end of 2025.
Crypto market analyst Mister Crypto indicated that Bitcoin is testing the golden cross — a bullish technical pattern known for heralding rallies, such as a 2,200% increase in 2017 and a 1,190% rise in 2020.
“The setup appears incredibly strong,” he commented, noting that a confirmed breakout could lead to a significant spike in Bitcoin’s price over the upcoming weeks.
Crypto trader Alex Becker mentioned that there’s a “very high probability” this marks the beginning of a bull market, while Jan3 founder Samson Mow added: “It’s time for Bitcoin’s next upward movement.”
Another analyst, “Mac,” said that although the risk-to-reward ratio seems favorable, he doesn’t predict a significant price surge in the short term, speculating that “a little more upward fluctuation” might occur over the next week.
Currently, Bitcoin is priced at $115,585, still down 4.9% from the onset of the dip and approximately 8.8% from its $126,080 high set 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 crash, as reported by crypto analytics platform Lookonchain noted.
BitMine’s executive chairman, Tom Lee, said the stock market retreat was “somewhat overdue,” noting the market has grown around 36% since April’s lows.
“I perceive it as a healthy cleanout,” Lee stated to CNBC, emphasizing that any decline in price without substantial structural alterations represents a “great buying opportunity.”
Strategy may have bought the dip too
Strategy executive chairman Michael Saylor hinted that his firm acquired 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 Bitcoin-holding entity confirmed a Bitcoin purchase or sale during the weekend.
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