The crypto market is holding onto its powerful recovery on August 24, with Bitcoin (BTC) trading above $77,000 after briefly approaching $80,000 earlier in the rally.
Ethereum (ETH) has continued moving higher toward $2,500, while XRP remains one of the strongest large-cap performers after a sharp three-day surge pushed the token to a seven-month high.
However, the market has also started showing signs of consolidation.
After the historic short squeeze that helped fuel last week’s rally, the weekend pullback triggered a fresh wave of liquidations among leveraged long traders. The result is a market that remains strongly higher than it was just days ago but is now testing whether the rally can continue without excessive leverage.
