Bitcoin’s price recovered above the US$20,000 mark Monday morning in Asia after falling to as low as US$17,708 on Sunday — its lowest point since December 2020 — according to CoinMarketCap.
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- The world’s largest cryptocurrency gained more than 7% in the past day to trade at US$20,504 at publishing time.
- Ethereum had a 14% surge in the past 24 hours after dipping to US$896, and was changing hands at US$1,125 at publishing time.
- The cryptocurrency market has been valued under US$1 trillion for the seventh day, as chills of a “crypto winter” continued setting in.
- Markets remain on edge as the troubled hedge fund Three Arrows Capital reportedly had trading positions liquidated by some major crypto exchanges after it failed to meet margin calls, and investor funds in cryptocurrency lender Celsius Network remain frozen.
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