Cryptocurrencies
Bitcoin Snaps Slide With Biggest One-Day Gain Since November
- Cryptocurrency had slumped about 30% since hitting record high
- Token may have put in a ‘floor’ at $45,000, BI’s McGlone says
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Bitcoin rose the most in more than a month, briefly climbing back above $49,000 for the first time in five days, amid a general rebound in risk sentiment.
The largest cryptocurrency by market value gained as much as 5% to $49,331 in New York trading before paring the increase. Bitcoin had slumped about 30% over the past five weeks after setting a record high of almost $69,000 in early November.