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Bitcoin Holds Rebound as Crypto World Awaits Stablecoin Rescue

  • World’s largest token hovers around $31,000 in Asian trading
  • Steps are expected to bolster the ailing TerraUSD stablecoin
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Bitcoin Snaps 5-Day Slide in Choppy Trading
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Bitcoin held a partial rebound from this week’s selloff amid steadier sentiment in global markets and expectations of help for a stablecoin whose struggles have cast a cloud over the cryptocurrency sector.

The world’s largest token hovered around $31,000 as of 12:50 p.m. in Singapore on Wednesday after bouncing from a brief dip below $30,000 a day earlier. Ether, Solana and other coins fluctuated in somewhat narrow ranges.