Crypto Markets Today: Bitcoin and Altcoins Recover After $500B Crash

The crypto market experienced a rebound following a dramatic $500 billion crash over the weekend, with Bitcoin rising by 1.4% and Ether outperforming at a 2.5% gain. Open interest in Bitcoin derivatives has recovered to approximately $26 billion, reflecting renewed bullish sentiment, while the three-month annualized basis is back to 6-7%. Funding rates across exchanges show divergence, with Bybit and Hyperliquid at +10%, but Binance showing negative rates. The options market indicates increased demand for upside exposure as the Put/Call Volume ratio now favors calls. Despite the recovery, market dynamics remain cautious, with Bitcoin dominance sitting at 58.45%. Notably, Solana surged by 120%, while tokens like Plasma and Aster did not partake in the gains. Overall, a total of $620 million in liquidations occurred, further highlighting the volatility within the space. As traders reassess their positions, the market shows signs of potential resilience after significant liquidations and a shift back toward safer, larger-cap assets.

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