Seeking Alpha
2022-06-21 13:32:50

Bitcoin, ether continue rebound, leading other cryptos higher

Bitcoin (BTC-USD) is further recovering from its deep slump at the beginning of the long weekend, as speculators' risk appetite appears to be widening. The world's largest digital coin be market cap on Tuesday is up and over $21K, climbing 3.4% to $21.2K as of shortly before 10:00 a.m. ET. That compares with an intraday low of $17.6K on Saturday, marking the first time when bitcoin (BTC-USD) fell below a previous cycle peak ($19.5K in 2017). And ethereum (ETH-USD) +3.6% is also extending its rebound to $1.15K after dipping to as low as $901 on Saturday. The relief in crypto comes as all three major stock indices open higher, with the tech-heavy Nasdaq (+1.9%) in the lead. If bitcoin (BTC-USD) can finish off a day over $22K, "I believe we head back to $30K," said Jim Iuorio, host of the Futures Edge podcast in a Twitter post. Some are pointing to a healthy bear market

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