Crypto stages relief rally as bitcoin, ether bounce back from weekend rout

Bitcoin climbed back toward $79,000 after dipping below $75,000 over the weekend, as traders weighed a wave of liquidation-led selling against improving macro sentiment and signs that crypto markets may be approaching a turning point.

Major cryptocurrencies advanced over the past 24 hours following a sharp weekend selloff that drove prices to multi-month lows and triggered billions of dollars in liquidations across derivatives markets. Bitcoin was trading just under $79,000 during Asian hours, according to CoinDesk data, rebounding from weekend lows near $74,000.

Ether rose above $2,340, while Solana, BNB, XRP and Cardano gained between 3% and 6% on the day. Even so, most large-cap tokens remain sharply lower on a seven-day basis, with losses of up to 20%.

The rebound comes after broad capitulation swept through crypto markets over the weekend, marked by heavy long liquidations and thin liquidity. CF Benchmarks said the selloff could mark the end of a prolonged bearish phase that began with the October 10, 2025 deleveraging event.

“Bitcoin has completed the bearish sequence that started with the October 10 deleveraging event, with the latest washout retesting — and briefly undercutting — the April 2025 ‘Liberation Day’ lows around $74,000,” said Gabe Selby, head of research at CF Benchmarks, a Kraken subsidiary.

Selby said the weekend decline was driven by “massive long liquidations” amid broader risk-off flows and mixed earnings from major U.S. technology companies. He added that bitcoin’s weakness continues to reflect regulatory headwinds, including stalled U.S. crypto market structure legislation, as well as early signs of a hawkish repricing in expectations for Federal Reserve policy.

By contrast, recent pullbacks in gold and silver were more closely tied to crowded positioning after strong rallies, rather than shared macroeconomic drivers, Selby noted.

“Now that the April lows have been taken out, bitcoin is at a clear inflection point,” he said. “Sustained, high-volume buying is needed to establish a new bullish market structure. Failure to hold above these levels keeps downside risks alive, with liquidation clusters below $70,000.”

Elsewhere, Asian equities rebounded after their steepest selloff in more than two months. The MSCI Asia Pacific Index jumped 2.4%, its strongest session since April’s ‘Liberation Day’ rebound, while South Korean stocks surged more than 5%.

U.S. equity futures edged higher after upbeat guidance from Palantir, although uncertainty remains around Federal Reserve leadership and the future direction of monetary policy.