Bitcoin rises above $39K as altcoins rebound with double-digit gains BTC Crypto
Alternative cryptocurrencies led the broader crypto market recovery, having taken a bigger hit during the market sell-off. LUNA, FTM and Tezos were among the notable gainers in the top 50.
Meme coin Shiba Inu has gained over 8% over the last 24 hours, according to data provided by CoinMarketCap. The token is currently trading at $0.000024. Rival joke-coin Doge has also recorded gains over the same period, rising by about 7%.Analysts believe that Bitcoin's surprising rebound could also be the result of a so-called short squeeze. Several altcoins experienced a ''short squeeze'' after reaching oversold conditions.
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