Bitcoin moved back toward $79,000 after briefly falling below $75,000 over the weekend, as investors weighed a liquidation-driven selloff against stabilizing macro signals and growing debate over whether crypto markets are nearing a turning point.
Major cryptocurrencies rebounded over the past 24 hours following a severe weekend downturn that pushed prices to multi-month lows and triggered billions of dollars in forced liquidations across derivatives markets. Bitcoin was trading just under $79,000 during Asian trading hours, recovering from weekend lows near $74,000, according to CoinDesk market data.
Ether climbed above $2,340, while Solana, BNB, XRP and Cardano rose between 3% and 6% on the day. Despite the rebound, most large-cap tokens remain sharply lower on a weekly basis, with losses of as much as 20%.
The bounce follows broad capitulation across crypto markets over the weekend, characterized by thin liquidity and heavy long liquidations. CF Benchmarks said the selloff may mark the conclusion of a prolonged bearish phase that began with the October 10, 2025 deleveraging event.
“Bitcoin has completed the bearish sequence that started with the October 10 deleveraging, with the most recent washout retesting — and briefly breaking below — the April 2025 ‘Liberation Day’ lows around $74,000,” said Gabe Selby, head of research at CF Benchmarks, a Kraken-owned firm.
Selby said the decline was driven by “massive long liquidations” amid broader risk-off sentiment and mixed earnings from major U.S. technology companies. He added that bitcoin’s weakness continues to reflect regulatory headwinds, including stalled U.S. crypto market structure legislation, alongside early signs of a hawkish repricing in Federal Reserve policy expectations.
By comparison, recent pullbacks in gold and silver were largely the result of crowded positioning following strong rallies, rather than shared macroeconomic pressures, Selby noted.
“After taking out the April lows, bitcoin is now at a clear inflection point,” he said. “Sustained, high-volume buying is needed to establish a new bullish market structure. Failure to hold above these levels leaves downside risks in place, with liquidation clusters sitting below $70,000.”
Outside crypto, Asian equity markets rebounded after their steepest selloff in more than two months. The MSCI Asia Pacific Index rose 2.4%, its strongest session since April’s ‘Liberation Day’ rebound, while South Korean stocks surged more than 5%.
U.S. equity futures also edged higher following upbeat guidance from Palantir, though uncertainty persists around Federal Reserve leadership and the future path of monetary policy.
