Bitcoin (CRYPTO:BTC) stabilised around $57,000 following a volatile trading day that saw significant liquidations in the derivatives market, totaling $240 million.

Despite the stability, market sentiment remains cautious, influenced by the Fear and Greed index indicating fear among investors.

Meanwhile, the overall cryptocurrency market cap surpassed $2.2 trillion, buoyed by altcoins showing widespread recovery.

Solana (CRYPTO:SOL) led the charge with an 8% gain, nearing the $150 mark, while other top altcoins like ADA (CRYPTO:ADA) and UNI (CRYPTO:UNI) saw increases of 6%.

Ethereum (CRYPTO:ETH) reclaimed $3,000, and BNB (CRYPTO:BNB) surpassed $500, contributing to the broader market's positive sentiment.