In recent days, the price of Bitcoin displayed bearish movements as it dropped to $62,300 yesterday; however, it has since rebounded by almost $2,000.

Other alternative coins (altcoins) also show positive shifts today, with Ethereum (ETH) surpassing $3,300 and Solana (SOL) reclaiming the $140 mark.

BTC Strives for $64K

Last week, Bitcoin (BTC) went through its fourth halving, leading to a reduction in block rewards for miners. During this time, the digital asset saw significant price fluctuations due to tensions between Iran and Israel.

Following a sharp decline to under $59,500, Bitcoin surged by over $5,000, surpassing $65,000 over the weekend. It continued moving upward in the first few business days, reaching above $67,000 multiple times.

However, this surge was short-lived, as bears quickly changed its direction. Wednesday witnessed a substantial drop to $62,800, followed by a bounce to $65,000 on Thursday. Nevertheless, BTC fell again to $62,400 on Saturday.

Despite the downturn, bulls pushed the price upward, and Bitcoin is now trading near $64,000. Its market value is close to $1.260 trillion, while its dominance over other altcoins has decreased to 50.1%.

Altcoins Show Growth

The declining dominance of Bitcoin has allowed many altcoins to perform better. Ethereum, the largest altcoin, has surged by over 6% in the last 24 hours, trading above $3,300. Solana and Toncoin have also experienced gains, with prices reaching $143 and $5.5, respectively.

Other altcoins such as MATIC, NEAR, ICP, ETC, ARB, IMX, and MKR have also witnessed daily increases in their value.

After facing a decline of over $150 billion up until Saturday, the total cryptocurrency market capitalization has recovered and now stands above $2.5 trillion, registering a $60 billion increase overnight.