Bitcoin and Ethereum continued to rebound and enjoy some much-needed respite as China’s plans to lift COVID-19 restrictions sent positive waves through the global economy.
Bitcoin edged cautiously higher by 2.7% to US$31,479, while its closest rival, Ethereum, slightly outpaced the more popular coin, advancing 3.0% to US$1,964.
“Bitcoin and Ethereum prices see a relief rally and the price action shows some optimism among traders,” commented Naeem Aslam, Avatrade's chief market analyst.