The cryptocurrency market has staged a dramatic rebound over the past 24 hours, adding roughly $200 billion in value as Bitcoin (BTC) led a sweeping surge across major digital assets.
The rally has reversed the sharp downturn at the start of December, when global macro pressures and liquidations triggered a rapid market slide.
By press time, total crypto market capitalization had climbed to $3.08 trillion, up from $2.88 trillion just a day earlier.
Total crypto market cap 30-day chart. Source: CoinMarketCap
Bitcoin drove much of the momentum, adding about $120 billion over the period, with the asset’s market cap rising to $1.8 trillion. This marked Bitcoin’s strongest daily performance since May 2025, with the price approaching $91,000.
The spike was fueled in large part by a wave of liquidations. Within an hour, roughly $140 million in short positions were wiped out, compared with just $3 million in longs. The mechanically driven swing added more than $75 billion to
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