The cryptocurrency market is showing signs of recovery, with notable gains in both Bitcoin and several altcoins. Notably, the meme coin Notcoin (NOT) has surged by almost 50%, contributing to the market’s rebound.

Bitcoin’s Price Reclaims $57K

In the past 24 hours, Bitcoin (BTC) has continued its upward trajectory, surpassing the $57K mark. This follows a recent dip below $54K, where BTC experienced a significant decline. However, the market has rebounded, with Bitcoin gaining an additional 1% in the last day, as reported by CryptoPotato.

Despite this recovery, Bitcoin is still 6.5% down compared to its position seven days ago. The market remains volatile, and buyers will need to sustain their efforts to stage a more meaningful comeback.

Altcoins See Green

The broader cryptocurrency market is also witnessing positive momentum, with almost all altcoins recording gains. Notable performers include:

• Polkadot (DOT): Gained 6.4% in the past 24 hours.
• NEAR: Increased by 4.5%.
• Avalanche (AVAX): Rose by 3.6%.

Source: Quantify Crypto

Notcoin (NOT) Leads the Rally

The standout performer in the altcoin market is Notcoin (NOT), a TON-based meme coin launched earlier this year. NOT has surged by an impressive 42% in the past 24 hours, leading all other coins in the top 100 by market capitalization. This surge has helped NOT recover from recent losses and achieve a 5% increase over the past seven days.

While Notcoin has enjoyed significant gains, other popular meme coins have not fared as well. Dogwifhat (WIF), a dog-themed coin, has declined by 7.2% in the past 24 hours, making it one of the worst performers among the top 100 cryptocurrencies.

Market Sentiment Remains Uncertain

Overall, the cryptocurrency market appears to be on a recovery path, but sentiment remains uncertain. The next few days will be crucial in determining whether this positive momentum can be sustained or if further volatility is on the horizon.