The cryptocurrency market cap has recovered $600 billion since the Sunday low as bitcoin spiked above $40,000 for the first time in five days.
It has taken bitcoin five days to recover the most recent losses and jump above $40,000. Most altcoins are well in the green, too, with Ethereum reaching $2,900 and BNB nearing $400.
The primary cryptocurrency experienced numerous corrections in the past few weeks. The latest started on Friday following more FUD from China. In a matter of hours, bitcoin fell from $42,000 to a daily low of $34,000.
The situation worsened during the weekend, and BTC slumped to $31,000 on Sunday evening. However, the bulls took charge at that point and reversed the trajectory.
Bitcoin started to increase in value gradually and added several thousand dollars in a few days, as reported. In the past 24 hours alone, BTC went even further and jumped above $40,000 for the first time since Friday.
As of writing these lines, the cryptocurrency stands at just over $40,000, and its market capitalization is above $750 billion.