Bitcoin is recovering from a sudden decline in price triggered by a sell-off at the weekend. Monday's momentum is showing signs of inching towards its next target of $8,000.
After a 20 percent rally seen in the last seven days, the most popular cryptocurrency clocked a two-month high of $7,820 Monday.
Bitcoin price, which has been fluctuating most of this year, hit a seven-month low of $5,755 on June 25. Since then, the cryptocurrency showed a steady recovery with a strong rally of more than $2000 within a month.
A quick sell-off from investors caused a dramatic late Sunday crash, and created panic in Bitcoin market. The softcoin lost its value by 3 percent to hit $7333.
On Monday, trading opened at $7,396, and rose by more than 4 percent, or around $400, later in the day. As of this writing, BTC is trading at $7669.
According to CoinMarketCap, a 46 percent rise in bitcoin dominance rate indicates that Bitcoin is more in demand compared to the alternative cryptocurrencies, and looks set to extend gains further.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.