The world’s largest cryptocurrency is up 7.2% in the last 24 hours, having returned to the levels above $31,500 last seen on Monday morning. This is the second time since the mid-April crash that Bitcoin has tested the $29,000 support level and successfully bounced back.
Other major cryptocurrencies have also seen a recovery, with Ethereum (ETH) rising by 9.4% above $1,920. Other notable gainers include Polygon (+27.3%), Dogecoin (+19.1%), Polkadot (+13.2%), Cardano (+12,2%), and Binance Coin (+9.4%).
The move marks a swift reversal from the bearish sentiments that dominated the market over the last 48 hours when Bitcoin fell below $30,000, dragging many other cryptocurrencies into the red.
Some investors feared Bitcoin would drop deeper toward $25,000 as the broader stock markets plunged amid fears that a spike in the Delta variant of COVID-19 cases would again halt the global economy.
Delta Variant Fears Drag Global Stock Markets Down as Bitcoin Slips
The bearish news continued af
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