Bitcoin has experienced significant volatility over the past 24 hours, dropping below $60,000 before recovering to trade above $62,000. The cryptocurrency fell to a low of $58,000, prompting a sell-off that resulted in $196 million in liquidations. This decline was attributed to increased selling pressure and renewed scrutiny from the SEC. However, Bitcoin's price rebounded, with traders facing $191 million in losses during the downturn. Analysts suggest that Bitcoin must demonstrate resilience around the $61,000 resistance level to sustain upward momentum. Additionally, the memecoin sector has shown notable strength, particularly with the memecoin $DOG, which has surpassed a market cap of $500 million, reflecting a 36.4% increase. Overall, the market is closely watching Bitcoin's recovery and potential for future gains.