Bitcoin has rebounded to over $69,000 after briefly touching $70,000 on Friday, following a dip to nearly $60,000 earlier in the week. The recovery comes as altcoins continue to face significant declines. The market turmoil follows the liquidation of leveraged bets and concerns over the Federal Reserve chair nomination of Kevin Warsh, known for his inflation hawkishness. Privacy coin Monero fell nearly 31% over the past week, while World Liberty Financial, backed by President Trump, lost over 31% of its value.
Privacy coins, once favored by speculators, have seen a downturn with Dash dropping 19% and Zcash down 22% over the past week. Other altcoins like Solana and Ethereum also suffered, with Solana down more than 24% and Ethereum nearly 22% over the same period.
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