Bitcoin bounced back from a Monday morning dip below $64,000, climbing to a monthly high of $66,300 — its highest since June 17. The move added roughly $70 billion to the total cryptocurrency market cap, pushing it to $2.320 trillion for the first time in a month.
What drove the recovery
The rebound follows a rough stretch. Last week, Bitcoin dropped below $62,000 after weekend attacks in the Middle East spooked markets. But the selloff didn't last. Favorable CPI data for June helped calm nerves, and by Monday the largest crypto was back above $64,000 and pushing higher. The timing isn't great for bears — the quick recovery suggests the dip was more about geopolitics than crypto fundamentals.
Altcoins join the rally
Ethereum is approaching $1,950, while BNB hovers near $580. XRP gained about 4% on the day. Cardano surged over 8% to a local peak of $0.175. The biggest mover among the majors was ONDO, which rocketed more than 14% to near $0.40. The broad-based rally lifted total market cap by $70 billion in a single day — a sign that money isn't just rotating into Bitcoin.
Bitcoin dominance holds steady
Bitcoin's market cap now sits at $1.330 trillion, with dominance over altcoins at 57.2%. That's roughly where it's been for weeks. The number suggests that while altcoins are catching up, Bitcoin is still the anchor. Whether that holds depends on whether the rally broadens further or stalls at these levels.
The next test for the market will come later this week, when traders get fresh economic data and any new headlines from the Middle East. For now, the recovery looks solid — but last week's drop below $62,000 is a reminder how quickly sentiment can shift.
