After the massive volatility that hit the market in the past few days, bitcoin has finally started to show signs of revival by surging toward $80,000 earlier today.

The altcoins have marked substantial gains over the past 24 hours, with many posting double-digit price increases.

BTC to Challenge $80K?

What a week it has been for the crypto market. Bitcoin was riding high last Wednesday when it surged to $88,500 after reports that Elon Musk might leave US President Trump’s inner circle, but slumped hard in the following hours after the introduction of the latest set of tariffs from the US to the rest of the world.

As every country was slapped with at least a 10% tax, BTC dumped toward $80,000 immediately. It bounced off and remained relatively still during most of the weekend at around $83,000, but started to lose value rapidly on Sunday evening and Monday morning.

Its price slump took it to a five-month low of under $75,000, thus erasing over $12,000 in less than a week. After a fake report that the US might pause the tariffs for 90 days, BTC bounced off ot over $81,000 but dropped below $80,000 once again after the White House refuted the rumors and Trump actually warned China that he might add another 50% tax against it.

For now, BTC has remained with notable 24-hour gains as its price stands above $79,000 after tapping $80,000 earlier today. Its market cap has risen to $1.570 trillion on CG, while its dominance over the alts stands tall at 60.5%.

Alts Bounce Off

The ever-volatile altcoins were hit the hardest yesterday but stand with big gains over the past 24 hours. ETH and XRP are up by 3-4% to over $1,550 and $1.85, respectively.

Even more impressive gains come from the likes of SOL, DOGE, ADA, LINK, AVAX, SUI, HYPE, HBAR, LTC, and XMR. Notably, they have helped the total crypto market cap add around $120 billion since yesterday’s low and the metric is up to $2.6 trillion on CG now.