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Bitcoin Touches Highest in Two Weeks as Traders Look for Bottom

  • Largest cryptocurrency by market value briefly breaks $39,000
  • DailyFX analyst Cawley sees $39,600 as an important level

Bitcoin breached $39,000 for the first time in two weeks as traders speculate the largest cryptocurrency may have reached a bottom following its recent collapse from record highs. 

The digital asset gained as much as 2% to $39,267 before paring the increase. It hit a record of almost $69,000 in November. Ether outperformed its larger rival, rising as much as 5% to $2,814. Solana gained even more, jumping about 15% in the past 24 hours.