Cryptocurrencies
Bitcoin Bounces Above $20,000 in Swift Rebound; Caution Advised
- World’s largest token recoups all of Saturday’s steep losses
- Experts caution on dip-buying as tone remains downbeat
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Bitcoin snapped a 12-day slide on Sunday, clawing its way back above $20,000 and leading the cryptocurrency market in a swift turnaround after a record-breaking string of declines.
The world’s largest cryptocurrency climbed 16% Sunday, recouping its losses from a steep drop Saturday that sent the token to as low as $17,599. Ether, which touched as low as $881 in the selloff, climbed 26% to $1,140, while alternative coins from Avalanche to Solana also enjoyed gains. Bitcoin stood at about $20,500 as of 8 a.m. on Monday in Singapore, largely holding onto Sunday’s rally.