Baku:Bitcoin has seen a slight increase in value, though it remains below the $75,000 mark following recent declines in the cryptocurrency market. The modest uptick comes as the market shows signs of a weak recovery.

According to Azeri-Press news agency, Bitcoin's price rose by 0.39% over the past 24 hours, reaching $74,682.18. Despite this increase, the cryptocurrency's price has fallen by 2.42% over the past week, reflecting ongoing market challenges.

In contrast, Ethereum experienced a decline of 0.39% to $2,120.70, and Zcash dropped by 5.81% to $1,153.04. Meanwhile, BNB saw a gain of 0.54%, reaching $689.21. Other cryptocurrencies also showed mixed performance, with Monero declining by 5.10% to $568.60, Bitcoin Cash falling by 0.34% to $238.80, and Quant dropping by 3.90% to $191.18. Bittensor, however, increased by 2.45% to $221.39.

Gold-backed cryptocurrencies saw slight declines, with PAX Gold (PAXG) falling by 0.09% to $4,105.10 and Tether Gold (XAUT) declining by 0.08% to $4,102.26. The overall cryptocurrency market capitalization rose by 0.14% over the past 24 hours, standing at $2.49 trillion. The CoinMarketCap 20 index increased by 0.12% to 151.54 points.

Over the same period, liquidations in the cryptocurrency market totaled $257.56 million, and the Fear and Greed Index indicated prevailing fear among investors, standing at 28 points. Analysts suggest that the market's weak recovery might be due to a partial increase in buying activity following recent price declines, although the negative weekly performance of major cryptocurrencies and ongoing caution among investors suggest that selling pressure has not fully dissipated.