Bitcoin surged back above $90,000 on Tuesday, recovering from a bruising selloff that caught Wall Street off guard and erased nearly $1 billion in fresh leveraged bets. The rebound offered a brief respite in a months-long rout, but traders remain cautious, with sentiment still fragile and signs of stress persisting across crypto markets.
The original cryptocurrency rallied as much as 6.8% to $92,323, while its next biggest rival - Ether - rebounded by more than 8% to briefly push its price back above $3,000. Smaller, less liquid tokens such as Cardano, Solana and Chainlink jumped more than 10%.
Is Bitcoin approaching its true value? As prices fall around 16% in six months many are questioning the hype. Merryn Somerset Webb explains. Source: Bloomberg
