Source: https://news.bitcoin.com/from-red-to-rocket-fuel-crypto-market-valuation-climbs-post-turbulence/

The digital asset market saw a notable surge on Wednesday, with its total valuation increasing by over 9%. Bitcoin, the leading cryptocurrency, broke through the $83,000 mark during afternoon trading, marking an 8.4% rise. However, it was not just bitcoin that experienced significant gains; several alternative cryptocurrencies also outperformed expectations, leading to a varied and dynamic market landscape.

This sudden upswing came as a relief to investors and traders who had weathered a week of steep declines in the crypto market. The previous week had seen significant volatility and price fluctuations, causing concern among market participants. The sudden turnaround and bullish momentum on Wednesday provided a much-needed boost to market sentiment and confidence.

Altcoins, which refer to any cryptocurrency other than