Dogecoin and Avalanche are leading today’s crypto market rebound, rising 9.8% and 9.4% respectively, over the past 24 hours, as per CoinGecko data.
Altcoins also outperformed the crypto market as a whole in the last 24 hours. Cardano’s price rose by 6.3%, outpacing Bitcoin’s 4% increase. Chainlink, meanwhile, is up by 8% over the same time period. This represents gains similar to those of Dogecoin, Avalanche, and Avalanche.
Cryptocurrencies have all seen price increases in the past 24 hours.
Still, despite ongoing discussion and concerns about the Trump administration’s tariffs on the economy, the altcoins that are performing the best have been declining week over week, and even month over month. Many prominent financial figures, including hedge fund chief Ray Dalio and others, predict that the U.S. economic climate will continue to deteriorate over the long term.
Dogecoin's rise has left it still 9.8% lower than it was this time last week and DOGE is trailing its price from last month by 16.4%. Around 58% of its value has been lost since the recent peak of $0.36 around Trump’s Inauguration. AVAX’s share price has fallen 9.3% in the last week as well as 10.7% over the past month.
Even though the crypto market has seen a recent surge, institutional investors have withdrawn from the assets during the last few weeks.
According to data from Farside Investors, money has left the largest Bitcoin ETFs for the past three straight trading days—totaling $268 million. Net ETF flows were negative six out of seven trading days.
Volatility could be here to remain
Some analysts predict extreme price swings, Dogecoin included, to continue in the weeks and even months ahead. Sean Dawson, the head researcher at Derive.xyz on-chain trading platform, said Decrypt He expects that “this volatility will persist over the next few weeks, as global economic conditions adjust to a turbulent one.”
Dawson attributed this to the “increasing market pressure as traders try to reduce their risk exposure amid this increasing volatility.”
Some of the largest investors in the world are optimistic about long-term prospects, but they also expect short-term volatility.
Larry Fink of Blackrock, the CEO of one of the largest corporations in the world to hold Bitcoin, did not rule out that the market could fall “another 20 percent from here,” during a Monday speech delivered at the Economic Club of New York.
But the CEO said that the market turbulence presented "more of a buying opportunity than a selling opportunity.”
Stacy Elliott is the editor.
