Bitcoin Rebounds Above $62K as Crypto Market Stabilizes, Altcoins Show Mixed Performance

Bitcoin (BTC) climbed to around $62,800 on Monday, recovering strongly after falling below $58,000 on July 1, its lowest level since September 2024. The rebound eased fears of a deeper correction toward the $50,000 mark and signaled renewed confidence across the cryptocurrency market.

Ether (ETH) also recovered, rising to approximately $1,760 after dropping to nearly $1,550 last week. Both leading cryptocurrencies surged when futures markets reopened on Sunday but later trimmed part of those gains, slipping about 1% since midnight UTC.

The crypto market's performance contrasted with traditional financial markets, where Nasdaq 100 and S&P 500 futures gained roughly 1% and 0.5%, respectively, following the U.S. holiday weekend.

Altcoins delivered mixed results. Lighter's LIT token remained one of the strongest performers, gaining more than 50% over the past week and adding another 13.5% in the last 24 hours. Meanwhile, Morpho (MORPHO) and Cardano (ADA) each declined about 4%, reflecting uneven investor sentiment across smaller digital assets.

In the derivatives market, open interest for Bitcoin, Ether, Solana (SOL), and XRP remained largely unchanged, likely due to reduced trading activity during the extended U.S. holiday. Litecoin (LTC), however, recorded a notable increase in open interest, reaching 7.14 million tokens, its highest level since May. While positive funding rates suggest bullish positioning, a negative cumulative volume delta indicates sellers have remained active.

Bitcoin and Ether's 30-day implied volatility indices continued to decline, signaling expectations for calmer price action. Although BTC and ETH put options still trade at a premium to call options on Deribit, the gap has narrowed, suggesting bearish sentiment has eased. The $60,000 Bitcoin put and $70,000 call remain among the platform's most actively traded contracts.

LIT continued attracting attention after Lighter's decentralized derivatives exchange processed roughly $40 billion in trading volume over the past month. PYTH also gained about 6%, while CoinMarketCap's Altcoin Season Index climbed to 52, its highest reading in three months, indicating improving optimism despite continued weakness in tokens such as JITO, BEAT, and STABLE.