Bitcoin (BTC), the leading cryptocurrency, has risen again after the sharp fall on Friday, returning to the $ 58,000 levels.
Bitcoin managed to make an impressive comeback and hit $58,000 earlier today. Although the largest cryptocurrency has wiped out some of its gains, it is currently still 5% in the last 24 hours. It is trading at $57,361 with a gain of 8.
On November 26, the leading cryptocurrency tumbled more than 9% amid concerns that the pandemic could worsen due to a new variant of Covid-19 called Omicron.
But on Sunday, Bitcoin rallied over 7%, putting the bulls in the driver’s seat and invalidating bearish scenarios. Bitcoin needs to rise a little more to avoid a red monthly candle in November. Bitcoin is also 16% from reclaiming its all-time high. 8 percent away.
The largest cryptocurrency is back, along with other major markets. U.S. stock futures are currently in rally mode and the S&P 500 index is on track to gain 0.69%. Oil rebounded after the WTI price fell to negative in April 2020, the biggest one-day drop. Spot gold dropped $10 at the open but later the bulls managed to gain some ground.