Crypto Market Rebounds, BTC Breaks Above $109,000

The cryptocurrency market has shown strong resilience, quickly reclaiming lost ground after two consecutive days of corrections. Green has returned to cover most segments on July 2nd, signaling that investor optimism has made a decisive comeback. Data from SoSoValue paints a picture of a comprehensive recovery, with widespread gains of 2% to 9% across various sectors.

The two market leaders had an impressive session. Bitcoin (BTC), after falling to the $105,000 region, gained 3.12% over the past 24 hours, decisively breaking through the key $109,000 level. Ethereum (ETH) showed even more outstanding strength with a 7.03% rally, approaching the psychological $2,600 mark. ETH's outperformance is often seen as a positive signal for the entire altcoin market.

However, the highlight of this recovery was the leadership from high-beta sectors, indicating that investor risk appetite has increased significantly.

The AI Sector: Recorded explosive growth of 9.06%, becoming the best-performing sector. Tokens such as VIRTUAL and AI16Z rose by 13.33% and 16.05%, respectively.

The Meme Sector: Was not far behind with a collective 8.57% gain. Familiar tokens like WIF jumped 16.56%. Notably, BONK soared 20.06% following news of a forthcoming 2x leveraged ETF for the token, demonstrating the power of specific narratives.

The Layer-2 and RWA Sectors: Also showed strong recoveries with gains of 8.23% and 8.06%, respectively, with standout projects like TIA (+17.67%) and KTA (+24.07%) posting massive gains.

The strength spread across the entire market, with other key sectors also posting solid recoveries. The DeFi segment gained 6.59%, led by a 12.28% increase from Uniswap (UNI). The Layer-1 sector rose 4.27%, with Cardano (ADA) up 7.88%. Data from SoSoValue's indices confirmed this trend, with the ssiAI, ssiGameFi, and ssiLayer2 indices among the top performers.

Overall, the two-day correction appears to have been a short-lived profit-taking event, quickly followed by a powerful wave of buying. The fact that high-risk sectors are leading the recovery suggests that investors are confident and ready to bet on a new growth cycle for the crypto market.