Bitcoin jumped back above the $70,000 mark on Friday as investors piled back into the asset class following a volatile week for the cryptocurrency market at large. The $1.3 trillion digital asset is up over 6% today after plunging to nearly $60,000 earlier on Thursday. Ether has jumped more than 7% to above $2,000 while XRP trades at $1.46, up nearly 20%. Market watchers say the worst is over. “While it is difficult to say, conditions appear to be aligning for crypto to bottom,” David Duong, global hea ...

Bitcoin tumbled to nearly $60,000 on Friday, extending a 30% drawdown over the past month amid another $2 billion in liquidations. The top crypto is now down nearly 50% from its peak, erasing gains made after the election of US President Donald Trump, who supports the industry. Trump’s 2024 election victory and subsequent backing triggered a boom-and-bust cycle, argues Bloomberg Intelligence strategist Mike McGlone. “Cryptos got Trumped,” he said on Bloomberg Television. The selloff comes after fresh ...