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Crypto Market Comeback: A Shift in Momentum I’m Watching Closely

Over the past 24 hours, the cryptocurrency market delivered a powerful rebound, adding nearly $150 billion in total market capitalization. From my perspective, this wasn’t just a random bounce — it felt like a sudden shift in short-term sentiment, driven by both technical breakouts and forced liquidations.

What stands out to me is how synchronized the move was across major assets. When market leaders move decisively, the rest of the market tends to follow — and that’s exactly what happened.

Bircoin Breaks Above $67,000

Bitcoin pushed above the key $67,000 psychological level and is currently trading near $67,482, marking a gain of more than 7% in just one day. That move alone added roughly $100 billion to its market cap, bringing it to around $1.34 trillion, with over $41 billion in daily trading volume.

From my view, the breakout above $67K is more than just a number — it’s a confidence trigger. Psychological levels matter because they influence trader behavior. However, the real test starts now. Bitcoin must hold above this level to confirm that this isn’t just a short squeeze-driven spike, but the beginning of sustained upward momentum.

Ethereum claims $2,000
Ethereum actually outperformed Bitcoin on a percentage basis, climbing over 11% and reclaiming the $2,000 level. It added approximately $23 billion to its market value in a single session, pushing its market cap near $244 billion with more than $20 billion in trading volume.

To me, $2,000 is both a technical and emotional barrier. When ETH trades below it, sentiment feels heavy. Above it, confidence gradually rebuilds. If Ethereum can maintain strength above this zone, it may reinforce broader altcoin momentum in the near term.

XRP and Large-Cap Altcoins Join In

XRP climbed nearly 7% to around $1.44, lifting its market cap close to $88 billion, with daily volume exceeding $3 billion.

Meanwhile:

* Solana surged more than 10%
* Dogecoin gained over 10%
* Cardano advanced strongly as well

When large-cap altcoins move together like this, it usually signals broader participation rather than isolated strength.

Short Liquidations Accelerated the Move

One of the biggest drivers behind this rally was the liquidation of nearly $300 million in short positions. Traders who were betting on falling prices were forced to buy back their positions as the market moved against them.

This kind of forced buying can amplify upward momentum quickly. In my opinion, part of this rally was technical — not purely organic demand. That doesn’t make it weak, but it does mean volatility could remain elevated.

The Bigger Picture: Still Cautious Sentiment

Interestingly, despite the sharp rebound, the broader market sentiment remains cautious. The Crypto Fear & Greed Index still reflects extreme fear.

This contrast is important. When price rises while sentiment stays fearful, it often means many investors are still underexposed. Sometimes, that creates room for further upside — but it also means confidence hasn’t fully returned.

The Key Level I’m Watching: $2.35 Trillion

Total crypto market capitalization now sits around $2.33 trillion. The critical level to watch is $2.35 trillion, which acts as a major resistance zone.

Here’s how I see it:

* Break above $2.35T with strong volume → Potential confirmation of a broader recovery phase.
* Rejection at $2.35T → Higher chance of renewed volatility and possible pullback.

At this stage, I’m cautiously optimistic. The momentum is strong, but confirmation is everything. Holding key levels matters more than briefly breaking them.

This rally feels like the market reminding everyone that sentiment can flip fast — especially when positioning gets too one-sided.