Bitcoin reversed earlier losses to trade 0.5% higher for the session
showed tentative signs of recovering from last week’s rout, with tokens like Avalanche gaining and holding above $20,000. Avalanche advanced as much as 9.7%, leading gains among altcoins like Chainlink, Polkadot and Polygon on Monday. The MVIS Cryptocompare Digital Assets 100 index climbed 4.9% as of 4:30 p.m. in London. reversed earlier losses to trade 0.5% higher for the session. After a turbulent week that saw plunge below the $20,000 level for the first time since late 2020, some market watchers are pointing to tentative signs that prices have bottomed out — at least for now. Realized losses on Bitcoin holdings reached a record $7.3 billion last week, Glassnode said in a report Monday.
“With forced sellers appearing to drive much of the recent sell-side, the market might begin to eye whether signals of seller exhaustion are emerging over the coming weeks and months,” the report said.
