Bitcoin has bounced back above $28,000 after a brief dip, indicating that the cryptocurrency’s decline was short-lived. Altcoins have also seen slight gains, with Stacks (STX) leading the pack with a 7% daily surge.

After a volatile week, Bitcoin had reached a weekly high of nearly $29,000 on Wednesday, but the bears soon took control and pushed it back to around $28,000.

Despite yesterday’s dip, Bitcoin has rebounded strongly and briefly reached $28,500. Ethereum is also up by 1.5% and is trading at $1,860.

Most altcoins, including Ripple, Cardano, Dogecoin, MATIC, Solana, Polkadot, Litecoin, Shiba Inu, Tron, and Avalanche, have all posted similar gains. The total crypto market cap now stands at $1.185 trillion, having erased yesterday’s losses.