Crypto Market Sees Sunday Surge: What's Behind the Bounce?

Bitcoin Leads the Charge

• Bitcoin (BTC) hit around $86,466, a 2.7% jump from earlier in the day.
• The rise came after Bitcoin showed signs of being oversold, according to a crypto expert.
• The Relative Strength Index (RSI) dipped below 30, indicating sellers had pushed prices down too fast.

Historical Context

• Bitcoin's last two dips into this oversold zone in 2023 and March 2025 were followed by short-term rebounds.
• This pattern suggests that the recent rise might continue in the short term.

Overall Market Gains

• The overall crypto market saw a 3.29% increase in market capitalization over the past 24 hours, reaching $2.95 trillion.
• Most of the top 20 cryptocurrencies, excluding stablecoins, also saw increases.

Notable Performances

• Ether (ETH) gained 4.5% to around $2,835.
• Other major coins like Solana, BNB, Dogecoin, Cardano, and TRON also saw daily increases.
• Zcash (ZEC) and XRP stood out with notable gains:
• XRP climbed 7.7% to roughly $2.04.
• Zcash surged 14.1% to $574.05.
• Zcash has been on a roll, up 113.5% over the past month and over 922% year to date.
• Privacy-focused tokens like Zcash and Monero have been outperforming most other sectors in recent weeks.

Market Rebound and Liquidations

• The market rebound followed a wave of liquidations in the derivatives market.
• CoinGlass reported that around 117,928 traders were liquidated over the past 24 hours, totaling roughly $206.39 million.
• The largest single liquidation was a $3.03 million HYPE-USD position on the Hyperliquid exchange.
• Thin weekend liquidity likely amplified both the downturn and the rebound, a common feature of Sunday crypto trading.