Tuesday saw cryptocurrencies recoup some of the losses from the previous day, when bitcoin briefly dropped below $50,000 for the first time in six months.
The flagship cryptocurrency’s price increased by 6% to $56,438.59. Ether saw a 6% increase to $2,546.77. All markets saw a rise, including cryptocurrency stocks.
MicroStrategy increased by 2%, while Coinbase added 1%. There was minimal change in the mining businesses Riot Platforms and Marathon Digital.
On Monday, there was a sell-off in cryptocurrency as a result of carry traders unwinding their positions, which raised concerns about a potential recession in the United States, escalated tensions in the Middle East, and raised uncertainty about the outcome of the U.S. presidential election.
Source (CNBC)
