[New York Coin Market/Start] Bitcoin Recovers to $83,000, Leading Market Rebound Sentiment

# Cryptocurrency Market Attempts Rebound After Weekend Plunge The cryptocurrency market is making efforts to rebound from the steep declines experienced over the weekend, as the New York Stock Exchange prepares to open on the 10th. Bitcoin, having defended the $80,000 level, is now leading the market sentiment as it recovers to $83,000. Other major cryptocurrencies such as Ethereum and XRP are trading at slightly higher prices compared to an hour ago, although still down from their levels 24 hours ago. However, the overall risk-averse atmosphere in the broader asset markets remains unchanged, with futures for the New York Stock Exchange indexes once again showing significant declines. Uncertainty surrounding Trump's tariff wars and economic policies, growing concerns about a U.S. recession or stagflation, and disappointment stemming from last week's White House Cryptocurrency Summit are exerting pressure on the digital asset market. Investors are expected to adopt a wait-and-see approach while monitoring forthcoming economic data and policy directions. This ongoing trend of risk aversion points to further potential declines in the cryptocurrency market, though some view this situation as a buying opportunity at lower prices. Despite Federal Reserve Chairman Jerome Powell's recent statement that the uncertainty of Trump's economic policies won't rush any changes to monetary policy, the current economic slowdown has heightened expectations for a rate cut by the Fed in the first half of the year. This might support the cryptocurrency market in the future. Generally, the decline in U.S. dollar and Treasury yields is considered a positive factor for digital assets. As of 8:20 AM New York time on the 10th, according to CoinMarketCap, the total market capitalization of cryptocurrencies stood at $2.74 trillion, down 1.20% from 24 hours ago. The 24-hour trading volume in the cryptocurrency market increased by 120.49% to $115.9 billion. Bitcoin dominance was recorded at 60.3%, while Ethereum dominance was at 9.4%. The Fear and Greed Index for the cryptocurrency market indicated extreme fear, standing at 17. Bitcoin was priced at $83,298 on CoinMarketCap, down 1.42% from 24 hours ago. The overnight low (Asia time) was recorded at $80,052. Bitcoin has been undergoing a correction since reaching a new all-time high of $109,114 on January 20. Ethereum retreated 0.91% to $2,121, with an overnight low of $1,991. Ethereum’s all-time high was $4,891.70, set on November 16, 2021. Other altcoins within the top 10 market capitalization also saw declines when compared to 24 hours ago: XRP down 1.02%, BNB down 1.64%, Solana down 4.08%, Cardano down 2.42%, Dogecoin down 4.10%, and Tron down 1.62%. March Bitcoin futures listed on the Chicago Mercantile Exchange (CME) fell by 3.92% to $83,830, while April futures dropped by 4.26% to $84,105, and May futures decreased by 4.24% to $84,760. March Ethereum futures dropped 1.41% to $2,133.50, April futures fell 1.63% to $2,140.50, and May futures declined 4.45% to $2,095.00. According to Wall Street Journal data, the Dollar Index slipped by 0.13% to 103.71. The yield on the 10-year U.S. Treasury fell by 6.7 basis points to 4.234%.