Bitcoin Reclaims $60,000 Level in $50 Billion Market-Wide Rebound

Bitcoin has reclaimed the $60,000 level after five days of consolidation near 20-month lows.

The rebound added roughly $50 billion to the crypto market in a day and pushed the total market capitalization towards the $2.08 trillion resistance zone.

The trend remains bearish as Bitcoin is still below all major moving averages, including the 50-day EMA near $66,698 and the 200-day EMA near $77,512.

A daily close above $64,000 would neutralize the near-term bearish structure, while a close back below $60,000 would negate the rebound.