- STX rebounds to $2.94, up 13.56% in 24 hours amid market turbulence.
- Bitcoin’s dip below $62k triggers altcoin market correction.
- STX shows bullish signs with RSI at 59.95 and MACD crossing positive.
Cryptocurrency markets have faced a challenging week as investors opted to secure profits, leading to a pause in the macro uptrend. In the same way, Stacks (STX), the layer 2 network aimed at making Bitcoin more functional, has been subject to high volatility. However, after a steep fall to $2.47, STX made a rebound towards $2.90, amid market instability.
Bitcoin Leads Market Correction
The selloff was led by Bitcoin, which suffered a huge pullback from its previous week’s high above $73,000. The fall pushed Bitcoin below the $62,000 level, causing a big correction across the altcoin market.
During the market downturn, Stacks demonstrated great resilience, rebounding to $2.96 before encountering some selling pressure. This recovery is reflected in the digital asset’s 24-hour trading volume, which reached approximately $513,366,116, up 248%.
The rebound represents a favorable market reacti…
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