Bitcoin reclaims $79,000 as XRP rebounds and VVV leads altcoin surge

Bitcoin climbed back above $79,000 on Sept. 9, lifting XRP and sending VVV up more than 50 percent in 24 hours as buying returned across the crypto market.

The move extends a recovery that began after bitcoin fell below $58,000 in late June, with the token climbing roughly 40 percent to top $81,000 before consolidating. CoinGecko data showed bitcoin trading near $79,100 as of 03:44 UTC, up about 0.5 percent over 24 hours, with volume of $33.9 billion and a market capitalization of $1.58 trillion. Bitcoin dominance eased to 58.34 percent as capital rotated into smaller tokens.

XRP climbed to about $1.42, up 1.78 percent in 24 hours, after a swift rebound from an earlier decline. Its market cap stood near $89.25 billion, with traders watching a test of $1.50 ahead of a Sept. 11 event. Altcoin open interest in perpetual futures moved above bitcoin's for the first time since December 2024, according to exchange data, with Zcash, XRP and Solana drawing the heaviest leveraged bets.

VVV led 24-hour gains, jumping more than 50 percent, with LIT, ATOM and DOT following. The rotation pushed the Crypto Fear and Greed Index to 66, in "Greed" territory, after it sat at 29 a week earlier.

Bitcoin's daily chart remains constructive, with 13 of 15 moving averages flashing bullish signals even as momentum cools. Support sits at $79,013, with resistance at $80,537 and then $82,108. A break below $79,013 would put the $76,300-$77,000 region back in play, while a move through $80,537 would reopen the path toward the Sept. 3 high near $82,100.

The rebound has reignited debate over whether the bear market has ended. Investor didier, speaking on the WuBlockchain Podcast, called the move the opening phase of a bull market, citing bitcoin's reclaim of its 200-day moving average. Portfolio manager Griffin Ardern countered that the rally reflected a short squeeze and that a true bull market needs clearer dollar-liquidity and Treasury signals.

For now, direction hinges on whether bitcoin holds $79,013. A sustained push through $80,537 would likely extend the altcoin rotation, while a break lower could unwind leveraged positions that have piled into XRP, Solana and Zcash.

This article is for informational purposes only and does not constitute investment advice.