截至发稿，比特币稍有回落，现报61280美元。
Cryptos have recovered from a significant sell-off earlier this week, with Bitcoin breaking through $62,000 on Friday.
Cryptos have recovered from a significant sell-off earlier this week, with Bitcoin breaking through $62,000 on Friday.
Data shows that Bitcoin rose nearly 12% earlier, at one point exceeding $62,000, well above the support level of $55,000 for much of this year. Ethereum soared over 14%, nearing $2,700. On Wednesday, Bitcoin and Ethereum briefly led the decline in the crypto market and related Stocks.
As of the time of writing, Bitcoin has slightly retreated, currently reported at $61,280.
As of Thursday's close, $Coinbase (COIN.US)$ and $MicroStrategy (MSTR.US)$The stock prices rose by 7.50% and 9.07% respectively. Both continued to rise in after-hours trading.
As yen arbitrage trading unwound and led to deleveraging in the market, while U.S. Treasury yields rose due to concerns about an economic recession, the market seems to be trying to find its footing after Monday's plunge. Bitcoin briefly dropped below $0.05 million, after trading close to $0.07 million the previous week. However, market concerns began to emerge late last week after the July employment report fell short of expectations.
Ryan Rasmussen, an Analyst at Bitwise Asset Management, stated: "In the next month or two, the macro economy will dominate. From escalating tensions in the Middle East to the collapse of yen arbitrage trading, and concerns over a U.S. recession, everyone is worried about when the next shoe will drop."
August has always been considered a month of high volatility in crypto trading. Rasmussen indicated that before these concerns dissipate, most institutional investors may prioritize their stock portfolios over the 1% to 5% of assets allocated to Cryptos.
"Multiple forces and reactions are causing a sideways rebound in the crypto market," said Chris Kline, co-founder and Chief Operation Officer of Bitcoin IRA. "Cryptos continue to feel lethargic, primarily because investors are cautious about whether the Fed will cut rates and whether this adjustment is just a flash in the pan or will raise further concerns."
Since the beginning of this year, Bitcoin has accumulated an increase of nearly 44%.
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