Crypto Market Rebounds: Bitcoin Surges 3% to $82,120, Altcoins Gain Up to 16%

On March 12, the cryptocurrency market experienced a notable rebound, with Bitcoin (BTC) briefly touching $83,000 during early Asian trading hours. This surge followed a period of significant volatility, during which major altcoins such as XRP, Solana (SOL), and Ethereum (ETH) also saw gains ranging from 1% to 7%. Kaspa (KAS) led the market with a remarkable 16% increase, indicating a broader recovery trend.

The overall market capitalization of cryptocurrencies rose by 3.5%, reaching $2.67 trillion. This recovery was accompanied by a decline in liquidations, which dropped by over 58% to $389.61 million, providing some relief to prices. The market appears to be digesting recent geopolitical tensions and economic concerns, including trade war tensions and fears of a U.S. recession.

Bitcoin's price, which had previously crashed to a multi-month low of $76,000, regained momentum, trading at $82,120. The flagship cryptocurrency saw a 3% intraday increase, with a low of $79,059.43 and a high of $83,737.45. Bitcoin's market dominance increased by 0.22% to 61.27%, which could potentially undermine the gains of altcoins. Market observers are speculating whether this recent price action signals the start of a rally, especially in light of the U.S. strategic Bitcoin reserve announcement.

Ethereum (ETH) managed a modest 1% gain, closing at $1,863. The cryptocurrency hit an intraday low of $1,842.15 and a high of $1,961.80. Ethereum's market dominance slipped to 8.5%, a notable decline from previous levels above 9%.

XRP saw a significant 7% increase, trading at $2.15. The coin's price ranged from $2.05 to $2.24. This surge coincided with Franklin Templeton's S-1 filing for an XRP ETF, which has sparked investor interest.

Solana (SOL) also experienced gains, rising by 2% to $