Bitcoin, which had been on a downward trend, rebounded and recovered the $61,000 level.
As of 8 a.m. on the 3rd, on CoinMarketCap, a global virtual asset market tracker, Bitcoin was at $61,293, up 1.80% from 24 hours earlier.
At 4 p.m. on the 1st, the Bitcoin price fell to $58,664, briefly losing the $60,000 level. The rise in Bitcoin is seen as driven by increased purchases by long-term holders and a large additional purchase by the Japanese corporation MetaPlanet.
Altcoin (virtual assets excluding Bitcoin) prices are also rising. At the same time, Ethereum, the No. 2 by market capitalization, was trading at $1,691, up 4.78%. Ripple was up 2.53% at $1.08, and Solana was up 3.90% at $80.
In the market, some analyses say Bitcoin's price is entering the final stages of its decline. Cantor Fitzgerald, a Wall Street investment bank in the United States, said in a report that the current virtual asset market has entered the last phase of a down cycle and projected that Bitcoin could form a bottom within months.