The beginning of the new week saw the total cryptocurrency market attempt a recovery, with its capitalization pushing toward the important $2.5 trillion market, up 2.6% on the day. Bitcoin’s price is now around $63K, and the majority of the altcoins are also posting gains. Important events will take place this week that are worth watching, so let’s dive in.

Bitcoin’s price is trading at around $62,800, having touched a daily high of around $63,700. This represents an increase of 2.6% in the past 24 hours for the primary cryptocurrency. It’s interesting to see if BTC will be able to retain these gains and build on them or if the bears will be able to push the price back toward $60K. In any case, as we reported earlier today, some analysts are positive that July will be a good month for Bitcoin. They argue that it has historically been a month of gains, especially following a red June (as it was this year).

As mentioned earlier, though, there are a few important economic events that will take place in the US this week and might have an impact on the price action. These are June ISM Manufacturing PMI Data – on Monday, Fed Chair Powell will speak – on Tuesday, JOLTs Jobs Data – on Tuesday, Fed Meeting Minutes – on Wednesday, Stock Market will be closed – on Thursday and June Jobs Report data – on Friday.

Many of the large-cap altcoins are also trading well in green, with SOL being a notable example. The cryptocurrency increased by 4.6% and is now pushing for $150. LINK increased by 5.31%, AVAX – by almost 6%, NEAR – by 5% and so forth. Interestingly enough, some categories are performing a lot better compared to others. For example, meme coins on Solana and Base have charted, on average, gains between 13% and 9%, respectively. This is considerably more in comparison to the general category of meme coins (across all chains and all themes), which is up by about 3%.

The rebound can be attributed to the Spot Bitcoin ETFs as they regained momentum with over $370 million inflows. Ethereum and other altcoins also joined the rebound spree. The top crypto prices today extended the rebound frenzy as the Bitcoin (BTC) price surged past the $63,000 level. In addition, the Ethereum (ETH) price mirrored the sentiment and sustained above the $3,100 mark. Moreover, other top altcoins, such as Solana (SOL), XRP, Cardano (ADA) also gained notably.

The Bitcoin price soared by 5.86% reaching $63,030.40. On the other hand, it’s trading volume surged 8.32% to $32.62 billion in the last 24 hours. Whilst, the crypto’s market capitalization climbed to $1.27 trillion. The Ethereum price rallied 3.87% to $3,117.60 at press time with a market valuation of $374.48 billion. Whilst, ETH saw its trading volume drop 0.75%, reaching $12.37 billion.

The Solana price recovered significantly and surpassed the $140 mark today. The Solana price surged 3.72%, settling at $145.04. In contrast, SOL witnessed a 3.66% dip in trade volume to $3.17 billion in the last 24 hours. Whilst, the XRP price neared the $0.53 level. The XRP price recorded a gain of 1.71%, reaching $0.5297. On the other hand, XRP’s trading volume jumped 10.52% to $1.11 billion.

The Cardano crypto price was up 2.56% to $0.4682 today. Whilst, ADA recorded a decline of 2.45% in its 24-hour trading volume, settling at $323.55 million. The Dogecoin price rallied 12.17% to $0.1502 while its rival, Shiba Inu price was soared 7.80% and traded at $0.00002495. The recent rebound in the Bitcoin price could be largely attributed to the resurgence of ETF inflows. On Friday, May 3, the Spot Bitcoin ETFs recorded a massive influx of $378 million. Moreover, the Grayscale Bitcoin Trust (GBTC) witnessed the first day of positive flow with $63 million net inflow.