Bitcoin surges 6% to top $20,000, its highest level in more than a week, even as stocks hit 2022 lows

Bitcoin topped $20,000 on Tuesday, hitting its highest level in the more than a week, but is still struggling to break out of its tight trading range.

The world’s largest cryptocurrency was more than 6% higher at $20,306.55 at around 9:01 a.m. ET, according to data from CoinDesk.

Bitcoin’s rally lifted the broader cryptocurrency market. Ether was up around 6% at $1,391.66.

Still, bitcoin has struggled for direction, trading between $18,000 and $25,000 since mid-June after a crash saw nearly $2 trillion wiped off the entire crypto market since its peak in November.

That market decline was driven by interest rate rises from central banks aimed a controlling rampant inflation as well as a wave of bankruptcies and insolvency issues that filtered through the crypto industry.

Source https://www.cnbc.com/2022/09/27/bitcoin-btc-price-surges-to-top-20000-even-as-stocks-hit-2022-lows.html

Coin Marketplace

STEEM 0.18
TRX 0.14
JST 0.030
BTC 58679.35
ETH 3155.04
USDT 1.00
SBD 2.44