Bitcoin Recovers After Hitting A Two-Year Low
November 23, 2022
Bitcoin has recovered some ground on Wednesday after hitting its previous day’s two-year low, even as traders remain cautious over the possible contagion from the FTX collapse.
The world’s largest digital currency rose more than 5% to trade at $16,497.19 at around 3:34 a.m.
The global cryptocurrency market cap was $862 billion, up 5.9% from a day earlier.
Ethereum registered a gain of 7% in the past 24 hours to reach $1,163.91. Meanwhile, Dogecoin jumped more than 10% to $0.08176.
However, on a weekly basis, the top cryptocurrencies still had a way to go to make up for shortfalls.
Bitcoin hit its lowest point since November 2020 on Tuesday amid a perfect storm of high-profile bankruptcies, regulatory pressure, and short selling.
Crypto Market remain on edge after the collapse of world’s largest cryptocurrency exchange FTX.