Crypto Markets Stage a Relief Rally, Boosting XRP and Dogecoin by 10%.

The total market capitalization of cryptocurrencies has pulled back to levels seen last November, when Donald Trump’s victory sparked a significant rally that broke through a previously held resistance barrier.

Bitcoin (BTC) has rallied back to nearly $80,000 after dipping below $75,000 late Monday. This bounce triggered a broader surge across the crypto market, with many major tokens posting notable gains.

Dogecoin (DOGE), Binance Coin (BNB), XRP, and Cardano (ADA) all rose by up to 10%, helping to recover some of the losses from the past 24 hours. The CoinDesk 20 index, which tracks the largest 20 cryptocurrencies, gained almost 9% in total.

The crypto market’s overall cap has retreated to levels similar to those seen in early November, when Trump’s election win triggered a market breakout, pushing the total value past a resistance level that had held firm for some time.

Traditional equity markets also saw a brief bounce late Monday, fueled by rumors of a potential tariff pause. The S&P 500 surged over 7%, but the gains were largely erased after the White House dismissed the rumors as “fake news.”

Meanwhile, over $1.2 billion in liquidations occurred in crypto futures on Monday as key cryptocurrencies fell more than 20% at one point. This led to a recovery as traders unwound short positions and reversed the aggressive selling trend, as noted by CoinDesk.

With many investors keeping a close eye on Bitcoin for signs of market stability, caution persists due to the ongoing uncertainty surrounding trade disputes and tariff policies.

“We remain optimistic that Bitcoin could attract investors looking for safe-haven assets, particularly if it can show resilience relative to traditional markets during any short-term recovery phase,” said Jupiter Zheng, partner at HashKey Capital, in a message to CoinDesk on Telegram. “While global markets are suffering massive sell-offs, Bitcoin has also declined, but it has maintained a relatively stable position.”

According to Alex Kuptsikevich, chief market analyst at FxPro, while the market is showing signs of a rebound, the conditions for a full reversal may not yet be in place.

“Crypto sentiment has fallen into extreme fear territory at a 23, which is much higher than the sentiment in traditional equity markets,” Kuptsikevich said in an email. “This indicates a more organized sell-off, which could be more dangerous for investors.”

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