The declining Bitcoin price rebounded to the $82,000 range.
According to CoinMarketCap, a global cryptocurrency market tracking site, as of 8:10 a.m. on the 12th, the Bitcoin price recorded $82,851. This reflects a 5.55% decrease from a week ago, but it is a 4.1% increase from 24 hours earlier.
Alternative cryptocurrencies, including Ethereum, also saw a slight rebound. At a similar time, the price of Ethereum was $1,931, Ripple was $2.18, and Binance Coin (BNB) recorded $554.82. Solana and Dogecoin increased by more than 5% each.
The Bitcoin price continued to decline despite U.S. President Donald Trump's directive for a "strategic reserve." The previous day, concerns over a U.S. economic recession compounded the decline, causing the price to drop below $80,000 and briefly plummet to $76,000.
However, the price began to rebound as buying pressure increased due to the sharp drop. The potential for a ceasefire in the Russia-Ukraine war also expanded the price increase.