Bitcoin Recovers to $67K, Miners Rally, XRP Leads Altcoins

Bitcoin (BTC) reversed its early decline on Monday, rising back to the $67,000 level after bouncing off the $65,000 support. This comes after a period of low volatility, which some market participants believe is due to a lack of catalysts. While most altcoins also recovered, they lagged behind BTC, with Ether (ETH) down 0.7% and other coins like Dogecoin (DOGE), Shiba Inu (SHIB), Avalanche (AVAX), and Near (NEAR) experiencing declines between 2%-5%. However, Ripple's XRP (XRP) outperformed with a 5% daily gain. Publicly-listed bitcoin miners also saw significant gains, with Hive Digital Technologies (HIVE), TeraWulf (WULF), and Canaan (CAN) rallying 10%-20%, while larger miners like Marathon Digital (MARA) and Riot Platforms (RIOT) rose by 4%. The broader market also saw positive momentum, with the S&P 500 and Nasdaq 100 hitting new all-time highs, gaining 0.9% and 1.2% respectively. Despite the recent rebound, some analysts believe that BTC is still in a declining phase of its daily cycle and could potentially revisit the lower $60,000 area before a more sustainable uptrend emerges.