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# Bitcoin reclaims $30,000 as the broader crypto market turns green
- URL: https://btcpeers.com/bitcoin-reclaims-30-000-as-the-broader-crypto-market-turns-green-2/
- Published: 2022-05-30T12:17:12.000Z
- Updated: 2023-09-24T15:26:36.000Z
- Author: John Williams
- Tags: News, #saudu, #Import 2025-12-27 14:07

Bitcoin and the general [crypto](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) market have recorded significant losses over the past few weeks. The flagship cryptocurrency was poised to extend its losing streak to a record nine weeks. However, this was narrowly broken in the late hours of Sunday after Bitcoin jumped to a seven-day high of $30,723.

Although Bitcoin had corrected slightly to around $30,640 as of press time, it was still up by 5.5% on a 24-hour window, according to CoinMarketCap. The slight rally has also done little to erase this month’s losses as data from Coinglass shows that Bitcoin is down by 18.63% this month.

The major question on the lips of many traders is whether Bitcoin is primed for recovery.

"*Markets are long overdue for a relief rally*," the CEO of social media trading platform Alpha Impact, Hayden Hughes, told [*Bloomberg*](https://www.bloomberg.com/news/articles/2022-05-30/bitcoin-may-still-be-primed-for-a-further-drop-from-range?ref=btcpeers.com). "*Bitcoin just went through eight consecutive weeks in red territory and got technically oversold to levels we traditionally only see at the bottom of bear markets.*"

Moving to the broader crypto market, a significant portion of the market is in green on Monday morning. Ethereum, the second-largest cryptocurrency by market cap, is up by 5.79% over the past day and is currently trading at around $1,900, per CoinMarketCap data. However, Ethereum is still down by 8.18% on a weekly chart.

Meanwhile, Cardano is currently leading the pack as the biggest gainer for the day on a list of top-10 cryptocurrencies by market cap. The digital asset saw an 11.45% gain.