Bitcoin recovered toward $79,000 after briefly sliding below $75,000 over the weekend, as traders assessed a wave of liquidation-driven selling against steadier macro conditions and signs the crypto market may be approaching a turning point.

Major cryptocurrencies rebounded over the past 24 hours following a sharp weekend selloff that pushed prices to multi-month lows and triggered billions of dollars in liquidations across derivatives markets. Bitcoin was trading just under $79,000 during Asian hours, rebounding from weekend lows near $74,000, according to CoinDesk data.

Ether climbed above $2,340, while Solana, BNB, XRP and Cardano posted gains of roughly 3% to 6%. Even with the bounce, most large-cap tokens remain sharply lower on a seven-day basis, with losses of up to 20%.

The recovery comes after broad capitulation swept through crypto markets over the weekend, marked by heavy long liquidations and thin liquidity. CF Benchmarks said the selloff may have завершed a longer bearish phase that began with the October 10, 2025 deleveraging event.

“Bitcoin has completed the bearish sequence that started with the October 10 deleveraging, with the latest washout retesting — and briefly undercutting — the April 2025 ‘Liberation Day’ lows around $74,000,” said Gabe Selby, head of research at CF Benchmarks, a Kraken affiliate.

Selby said the weekend drop was driven by “massive long liquidations” alongside broader risk-off flows and mixed earnings from U.S. technology firms. He added that bitcoin’s weakness remains tied to regulatory headwinds, including stalled U.S. crypto market structure legislation, and early signs of a hawkish repricing of Federal Reserve policy expectations.

By contrast, recent pullbacks in gold and silver were more closely linked to crowded positioning after strong rallies rather than shared macro drivers, Selby said.

“Now that the April lows have been taken out, bitcoin sits at a clear inflection point,” he said. “Sustained, high-volume buying is needed to establish a new bullish market structure. Failure to hold above these levels leaves downside risks intact, with liquidation clusters below $70,000.”

Elsewhere, Asian equities rebounded after their sharpest selloff in more than two months. The MSCI Asia Pacific Index rose 2.4%, its strongest session since April’s ‘Liberation Day’ rebound, while South Korean stocks jumped more than 5%.

U.S. equity futures edged higher following upbeat guidance from Palantir, though uncertainty continues to surround Federal Reserve leadership and the outlook for monetary policy.