After a few days of depressing price action, the bulls appear to be finally back in town. The cryptocurrency market added almost $70 billion to its total capitalization over the past 24 hours.

This happened on the back of Bitcoin charting a notable recovery in the past 24 hours, bouncing up to $63,000, so let’s have a look.

Bitcoin’s Price Stages a Recovery

Just a couple of days ago, Bitcoin tumbled below $60,000 and even briefly dipped below $59,000.

Fortunately, the bulls were very quick to recover and managed to stage an impressive rally, which peaked at around $63,400 earlier today. The price has since retraced a bit to where it currently trades, but BTC booked a 3.4% increase throughout the past 24 hours nonetheless.

It’s worth noting that Bitcoin has performed comparatively better than the other top 10 cryptocurrencies by market capitalization.