The price of Bitcoin continues to recover after the recent market collapse, as it witnessed a significant rise over the past 24 hours, reaching around $62,500.

However, the price could not maintain this level and fell below the $62,000 level again.

Altcoins also saw slight gains throughout the day, with Ethereum (ETH) approaching $3,400 and Binance Coin (BNB) closing near $580.

Bitcoin targets $62,000:
Less than a week ago, specifically last Thursday, the price of Bitcoin reached more than $66,000.

However, the coin saw a sharp decline on Friday, with the coin's price falling below $64,000 before bouncing slightly over the weekend.

Saturday and Sunday passed relatively calmly, without major movements.

The situation changed dramatically on Monday, when speculators took control of the market after disturbing news related to Mt.Gox, pushing Bitcoin down significantly.

Within hours, the price of the cryptocurrency fell to $58,450 for the first time in about two months.

Despite warnings that Bitcoin could fall to $50,000 or even $45,000, the currency reversed course and jumped to $61,000 yesterday morning.

It continued to rise during the day, touching $62,400 (on Bitstamp).

But Bitcoin could not maintain this rise and the price fell by nearly a thousand dollars.

With this decline, the market value of Bitcoin has become less than $1.210 trillion, while its dominance over alternative currencies has declined to 50.7%.

Altcoins suffered similar declines to Bitcoin at the beginning of the week, reaching multi-month lows.

However, the situation has improved a bit now, with some coins recording slight gains such as Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Tron (TRX), and Polkadot (DOT).

PEPE and STX emerged as the best performing coins among the 36 largest cryptocurrencies, rising by 9%.

While NOT currency recorded an increase of 14% over the past day.

The total cryptocurrency market cap reached $2.38 trillion on CoinGecko, representing a 1.1% increase over the past 24 hours.